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The World in a Week: How Major Markets Moved
United States | U.S. markets ended the week higher as softer economic data and dovish remarks from Federal Reserve officials supported expectations for a December rate cut. Small caps outperformed, and the Nasdaq recovered as AI valuation concerns eased. Retail sales and PPI showed slower momentum, while jobless claims hit a seven-month low. Treasury yields moved lower, lifting overall risk sentiment.
Europe | European equities rose, with the STOXX 600 gaining more than 2 per cent. Inflation readings in France, Spain, and Italy stayed close to the ECB’s target. The UK budget introduced higher taxes to stabilise public finances, and German business sentiment softened even as consumer confidence improved slightly.
Japan | Japan’s markets advanced, helped by a rebound in tech shares and expectations of U.S. rate cuts. Core inflation held at 2.8 percent, and strong October data signaled resilience.
China | Chinese markets gained as investors rotated into tech and AI themes. The CSI 300 rose over 1.5 per cent. Industrial profits fell and producer prices stayed weak, but growth is still expected to meet the 5 per cent target.
India | Indian indices rose about 0.6 per cent, led by financials. Pharma and PSU banks outperformed, while PSU stocks lagged.
Commodities | Gold held near 4,200 dollars per ounce. Brent crude hovered around 66 dollars as supply concerns eased.
Stock market closing data for the week of Nov 24 to Nov 28, 2025
Index information: STOXX 600 (tracks 600 large, mid- & small-cap EU firms), DAX (top 40 German blue chips), CAC 40 (leading French stocks), Nikkei 225 (225 top Japanese stocks), CSI 300 & SSEC (mainland China A-shares), and Hang Seng (large-cap Hong Kong-listed firms). For these indices, we track 1-week returns to capture how global sentiment is shifting.
News Summaries
Best Buy Is Catching the First Real Signal of a Tech Upgrade Wave
Best Buy lifted its full-year forecast because something important is starting to happen in consumer electronics. After two quiet years, certain categories are waking up again. Laptops, gaming consoles, new smartphones and AI-enabled devices are pulling customers back into stores. Best Buy’s management has been waiting for this moment, and the latest quarter shows the first proof that a refresh cycle is forming.
Comparable sales rose 2.7 per cent. This is modest on the surface, but it is meaningful because it reflects genuine demand for new technology, not just promotions. Shoppers are still careful, yet they are willing to spend when the product feels like a real upgrade.
Best Buy is positioning itself for this shift. The company is expanding in-store demos, building vendor showcases and growing its marketplace to add more brands and accessories. These moves suggest a long-term plan. Best Buy is trying to anchor itself as the place where customers come when the next wave of consumer hardware finally arrives.
AI Demand Is Rewriting the Global Memory Market
A clear shift is underway in the electronics supply chain. Companies like Dell, HP, Xiaomi and Lenovo are warning that memory chips are becoming harder to secure and more expensive. The reason is not weak planning or temporary disruption. The reason is that AI infrastructure is pulling the entire memory industry into a new pricing cycle.
Manufacturers are diverting capacity to high-bandwidth memory used in AI servers, which leaves fewer DRAM and NAND chips for mainstream devices. Prices for memory modules are expected to rise by nearly 50 per cent through next year. Large tech firms are already stockpiling inventory because they know this is not a short event. It is the early stage of a multi-year reset.
Suppliers like Samsung, SK Hynix and Micron have sold most of next year’s output. PC and phone makers are preparing for higher production costs in 2026. The message is simple. AI is becoming the anchor customer for the semiconductor industry, and every consumer device will feel the ripple.
Alibaba Leans Harder Into AI As Cloud Momentum Builds
Alibaba signaled that it is preparing for a long AI cycle. The company said demand for its AI products is rising faster than it can add new servers. This matters because it shows Alibaba is no longer treating AI as an add-on to its cloud business. It is building the core engine of its future growth.
Cloud revenue grew 34 per cent in the September quarter. This is the strongest pace in several quarters and above expectations. AI-related products have now delivered triple-digit growth for nine straight quarters. The early traction of the Qwen app, which crossed 10 million downloads in its first week, supports this shift.
Alibaba has spent about 120 billion yuan ($17 billion) on AI and cloud infrastructure in the past year. CEO Eddie Wu said its earlier three-year plan of 380 billion yuan ($54 billion) may not be enough, and investment could rise further.
The company is absorbing short-term profit pressure from quick commerce expansion, but the strategy is clear. Alibaba wants its cloud and AI stack to define its next decade.
GIG Pune: Our Community Meetup Is Here
GIG is coming to Pune.
After successful sessions in Mumbai and Bengaluru, we are bringing the Global Investor Group (GIG) meetup to Pune. It is an in-person gathering designed for investors who want clearer guidance on global markets, portfolio construction, and the right routes to invest abroad.
Expect real conversations, useful ideas, and a chance to learn from the Vested team and fellow investors. Seats are limited to keep the discussion meaningful.
👉 Confirm your spot for GIG Pune
Theme of the Week: India’s Latest GDP Print Shows a Shift Investors Cannot Ignore
Alphabet is up 19 per cent this month while Nvidia is down 7 per cent, and it took just one rumor to shake the AI world.
Meta might buy Google’s AI chips instead of Nvidia’s and suddenly Nvidia lost $150 billion in value and Alphabet jumped.
Is Wall Street shifting its bet from Nvidia GPUs to Google’s secret weapon TPUs?
Key Headlines of the Week
India’s GDP Grows 8.2 Percent | India’s economy expanded 8.2 percent in the September quarter, driven by strong manufacturing, construction and a 10 percent rise in services. Tax cuts lifted demand in October, adding momentum despite weaker exports. The IMF expects India to stay one of the fastest growing major economies and reach five trillion dollars by fiscal 2029.
Airbus Glitch Grounds Flights Worldwide | A software fault affecting more than 6,500 Airbus A320 jets forced airlines across the world to cancel flights and update systems. The issue stems from a data error triggered by solar radiation that could affect flight controls. Carriers including Avianca, ANA, Wizz Air and Jetstar faced disruptions, with older jets requiring hardware fixes as well.
Adani to Invest up to $5 Billion in Google’s AI Hub | The Adani Group plans to invest as much as 5 billion dollars in Google’s new AI data center campus in Visakhapatnam. The project aligns with India’s fast-growing data center sector, where investments may cross 100 billion dollars by 2027. Reliance and TCS have also announced large AI infrastructure commitments in recent weeks.
