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Market Summary

Stocks closed the month with a late rally as the S&P 500 and Dow logged gains and the Nasdaq steadied after a volatile stretch. Investors chased risk-on names in tech and energy while precious metals rallied on rate-cut hopes. Volatility spikes from a CME outage and geopolitical headlines kept traders cautious; retail and AI catalysts drove sector rotation.

Airbus has ordered an urgent software recall across its A320 family after a flight-control incident; regulators and airlines face potential holiday travel disruption as thousands of jets require updates before flying.

Figure of the Day

6,000 – Number of A320-family aircraft Airbus says need software modifications before flying.

Airlines and carriers warn of knock-on effects from Airbus’s bulletin; major operators and cargo fleets expect grounded aircraft and capacity hits during peak holiday logistics.

A cooling failure at a major data centre triggered a multi-hour CME Group outage that halted futures and options trading globally, raising resilience questions across market infrastructure.

Bullish

MediaTek rallies — best week since 2002

MediaTek shares posted their strongest weekly surge since 2002 as Google AI demand and chip deals lifted investor sentiment across the supply chain.
More on bloomberg.com

Ukraine’s presidency was hit by anti-corruption raids that forced Andriy Yermak — a top aide to President Zelenskyy — to resign, raising questions about governance as Kyiv navigates diplomacy with the US.

A devastating high-rise blaze in Hong Kong has killed scores and prompted arrests and safety probes; investigators are focusing on building renovations and alarm-system failures as the death toll rises.

Bearish

Meituan posts deep quarterly loss — price war erodes margins

China’s Meituan swung to a heavy adjusted net loss after subsidized battles with rivals, underscoring margin pressure in instant commerce and weakening investor confidence.
More on bloomberg.com

A lone gunman shot two National Guard members near the White House; one died and the suspect now faces upgraded homicide charges, prompting security reviews and political fallout in Washington.

The White House moved to tighten immigration rules after the Washington shooting, while the president announced plans to void executive actions signed by autopen — political shifts that could reshape border and administrative policy.

Regulatory Impact

FAA and airline directives now require A320 software remediation before flight; EU negotiators advanced rules making payment and platform firms share liability for some customer losses; US legislation tucked into recent bills could ban THC-infused beverages, reshaping hemp product markets.

Wall Street staged a late November comeback as benchmark indices recovered; month-end volatility gave way to gains driven by rate-cut expectations and retail strength on Black Friday.

Black Friday digital sales rose sharply even as shoppers questioned deal quality; labor unrest at major chains added pressure to holiday operations and consumer sentiment.

Quote

“We will permanently pause migration from all Third World countries to allow the U.S. system to fully recover.”

— President Donald Trump

Amazon faced coordinated protests and internal pushback over rapid AI expansion and ties to immigration enforcement, with thousands of employees warning of job and climate risks.

Precious metals rallied as investors weighed Fed rate-cut odds and safe-haven demand; silver hit fresh highs even as trading outages complicated flows.

Concerns about concentration and valuations in the AI supply chain deepened as analysts flagged Nvidia risks and OpenAI’s ecosystem showed heavy debt loads among partners.

South Korea’s crypto exchange Upbit disclosed a major breach and internal vulnerabilities, and investigators suspect state-linked hacking groups — a fresh reminder of security risks in crypto markets.

Stablecoin and ETF developers reshuffled plans as regulators in Abu Dhabi cleared Ripple’s RLUSD while asset managers trimmed or withdrew ETF registrations ahead of US listings.

Big tech legal and regulatory maneuvers continued in Europe as Google withdrew an EU antitrust complaint after the Commission opened probes — the tug-of-war over cloud licensing intensifies.

Hungary deepened energy ties with Russia as Prime Minister Orbán pressed for more oil and gas during Kremlin talks, underscoring fissures in EU unity on Moscow relations.

Severe flooding and landslides across Indonesia and the region have killed scores and left many missing, triggering large-scale rescue and relief operations amid worsening weather risks.

China’s robotics boom is drawing regulatory and investor scrutiny amid bubble warnings — policymakers and planners flagged risks as dozens of firms chase humanoid and industrial robot opportunities.

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