Your Evening Briefing

November 20, 2025

Stocks sink as strong Nvidia earnings fail to ease Wall Street’s AI anxiety

Stocks wiped out early gains from post-Nvidia earnings euphoria as the chip designer’s blowout earnings weren’t enough to ease investors’ concerns of bloated valuations and an AI bubble. SPY opened over 1.5% higher and closed over 1.5% lower, a feat seen only three other times since the fund’s inception.

All major US indexes dropped as the tech sector led the sell off. Every company in the Mag 7 fell, despite Alphabet notching a new intraday high in early trading.

Odds of a December rate cut crept higher after the September jobs report presented a mixed bag: much better job growth than anticipated, but the unemployment rate unexpectedly edged higher.

Stocks that moved higher:

Walmart spiked after reporting earnings and sales results that beat Wall Street estimates, showing American consumers are flocking to the company’s stores.

Stocks that moved lower:

Despite blowout earnings and CEO Jensen Huang and CFO Colette Kress dismantling most of the recent arguments and bear cases put forward by their naysayers in yesterday’s earnings call, Nvidia fell 3%.
Shares of US auto giant Ford ticked down following reports of another major fire at its primary aluminum supplier’s plant in Oswego County, New York.
Tesla initially spiked amid AI bullishness as Piper Sandler analyst Alexander Potter said Full Self-Driving software is “already better at driving than the average American” before closing lower along with the rest of the Magnificent 7.

Nvidia’s gaming division underwhelmed Wall Street: It’s still bringing in about as much money as Dr Pepper

It wasn’t too long ago that Nvidia’s gaming division was its primary money maker. Read more.

Retail traders’ success is thanks to doubling down on two things that have worked: “AI” and “buy the dip”

Main Street bought after weakness at three distinct moments early in the year.

Read more.

The expiry of electric vehicle tax credits didn’t just do wonders for the sales figures of automakers like Tesla; it also contributed to the best quarter of clean energy investment ever in Q3 this year, per a new report.

According to new data from the Clean Investment Monitor, a joint project from MIT and the Rhodium Group, clean energy investment across the US reached a record-breaking $75 billion last quarter, up 8% from the same period last year, as efforts to curb our economy’s emissions continue.

Read more.

Waymo to expand to Minneapolis, Tampa, and New Orleans
Waymo currently operates in five cities with plans for 20, while Tesla operates in two with named plans for seven so far.
Insurance against Oracle default becomes favorite AI-bust hedge, Bloomberg reports
The market for credit default swaps on the tech giant is getting busier.
Nintendo’s Switch 2 is outrunning the original’s US sales pace by 68%
The Switch 2 is outpacing even the sales velocity record of Sony’s PlayStation 4.
Bitcoin on its way to worst Q4 since 2018 as analysts see key signal for “bitcoin bear market”
The Crypto Fear & Greed Index is seeing “the longest Extreme Fear streak since the FTX collapse.”
Ethereum falls below a critical level
The last time ethereum was below $3,000 was in July 2025, after a number of corporate firms had begun to roll out their ethereum treasury strategies.

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