Global Markets Rally as Tech and Commodities Drive Investor Optimism
Global markets opened November with robust gains, extending October's rally as investors doubled down on growth stocks. The S&P 500, Dow Jones, and Nasdaq Composite posted monthly gains of 2.3%, 2.5%, and 4.7% respectively, fueled by AI enthusiasm and dominance from the 'Magnificent Seven' tech giants. With over 300 S&P 500 companies already reporting earnings, market participants are scrutinizing remaining results while bracing for delayed economic data due to the U.S. government shutdown.
Asian markets mirrored Wall Street's momentum, with South Korea's Kospi surging 2.8% to a record high as semiconductor stocks like SK Hynix and Samsung Electronics rallied. The partnership between SK Hynix and Nvidia to bolster AI infrastructure sparked an 11% single-day surge for the chipmaker, underscoring the region's tech-driven momentum.
