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US stocks ended the week with a mixed performance. Weekly market recap, trading week 46/2025

Summary of the trading week using the most popular posts from the X platform

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Global Markets Investor
November 16, 2025

šŸ”„šŸ”„ GLOBAL MARKETS INVESTOR PORTFOLIO ā€” UP 56% SINCE JANUARY 2024 DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:

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globalmarketsinvestor.beehiiv.com/c/investment-portfolio

In this series, you can find financial markets posts with the highest number of interactions from my X platform feed over the most recent week. I am aware that not everybody uses X regularly, so I thought it could provide some value to your analysis, and investment process. These posts are surrounded by extra charts, commentary and explanations of complicated topics.

US stocks saw a mixed performance this week with dip-buyers stepping in after almost every notable drop with thin liquidity amplifying the most recent move higher.

Bitcoin underperformed while Gold and silver rebounded slightly despite Friday's decline.

Meanwhile, core bullish narratives have been challenged over the last two weeks including:

1) The duration and pace of AI spending are now being questioned, especially as credit financing rises and return on investment remains uncertain.

2) Expectations for Fed cuts in December and a dovish path into 2026 have weakened following a wave of Fed speakers and mixed policy signals.

3) The durability of economic activity is becoming less certain, with pressure on low-income consumers and weakening labor trends raising concerns about a K-shaped economy into 2026.

Whether equities can resume their year-end rally now hinges largely on Nvidiaā€™s earnings next week, where investors will look for confirmation that the AI trade still has momentum.

The options market is already pricing in major volatility next week, especially after the BLS announced it will release the September payrolls on November 20th, one day after Nvidia reports.

In case you missed it, other posts from this week are listed below.

āš ļøWall Street is winning over Main Street like never before

The average American is struggling while the stock market keeps rising

globalmarketsinvestor.beehiiv.com/p/wall-street-is-winning-over-main-street-like-never-before

šŸšØUS technology stocks capital spending is exploding

Is this sustainable and will it pay off?

globalmarketsinvestor.beehiiv.com/p/us-technology-stocks-capital-spending-is-exploding

šŸšØFinancial engineering, reminiscent of what was seen before the 2008 Financial Crisis, is rising among AI companies:

AIā€™s capital boom is being fueled by debt many investors cannot easily see.

globalmarketsinvestor.beehiiv.com/p/financial-engineering-reminiscent-of-what-was-seen-before-the-2008-financial-crisis-is-rising-among

āš ļøCollege graduates unemployment is rising

Such an unemployment rate for young people has previously been seen during recessions.

globalmarketsinvestor.beehiiv.com/p/college-graduates-unemployment-is-rising

šŸšØUS bankruptcies are surging

Large companies are going bankrupt as if there is a recession

globalmarketsinvestor.beehiiv.com/p/financial-engineering-reminiscent-of-what-was-seen-before-the-2008-financial-crisis-is-rising-among-

āš ļøCHART OF THE WEEK: The US stock market has never been this expensive

Relative to US wages, the market is at its highest valuation in history.

globalmarketsinvestor.beehiiv.com/p/chart-of-the-week-the-us-stock-market-has-never-been-this-expensive

1) Weekly performance. In the first post attached, you can see last weekā€™s performance of the major US indexes, the VIX volatility index, 10-year Treasury yield, the US Dollar, gold, silver, WTI Crude oil and Bitcoin.

- S&P 500 +0.1%
- Nasdaq -0.5%
- Dow Jones +0.3%
- Russell 2000 (small caps) -1.9%
- US 10-year Treasury yield +6 bps
- VIX +5%, front month VIX futures +1%
- US Dollar index -0.3%
- Silver +4.9%
- Gold +1.8%
- WTI Crude Oil +0.3%

Gold and silver are making history

What's next for the most in-demand precious metals?

globalmarketsinvestor.beehiiv.com/p/gold-and-silver-are-making-history

āš ļøCHART OF THE WEEK: Will the gold outperformance of the S&P 500 continue for years?

Food for thought regarding gold and the S&P 500 relative performance

globalmarketsinvestor.beehiiv.com/p/chart-of-the-week-will-the-gold-outperformance-of-the-s-p-500-continue-for-years

- Bitcoin -7.3%

Is Bitcoin going to $1,000,000?

What to expect from the world's largest cryptocurrency in the coming months and years

globalmarketsinvestor.beehiiv.com/p/is-bitcoin-going-to-1000000

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For the trading week ending November 21, key events are:

- FOMC minutes on Wednesday

- NVIDIA Fiscal Year Q3 2026 earnings results on Thursday

- US Non-Farm Payrolls for September on Thursday

- US Consumer Sentiment for November on Friday

- At least 10 Fed Speeches

2) Retail investors buying spree continues.

3) Oracle's risk of default is still surging.

4) Other AI companiesā€™ debt is also rising. A warning sign?

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