A sharp decrease saw Bitcoin shed 5.4% of its value, last valued at roughly $86,435 at 11:30 a.m. in London (6:30 a.m. ET). Furthermore, Ethereum fell by approximately 6.1% early in the trading day, descending to $2,843, according to CNBC.

Solana's value dropped by over 7%, trading near $127, and several other widely monitored tokens also showed losses, including Dogecoin, which slipped by about 8.6%.

Following a statement released Saturday by the People's Bank of China warning of illicit activities concerning digital currencies, Hong Kong-listed shares of companies involved in digital assets suffered a retreat during Monday's session, which amplified the pressure, as reported by CNBC.

A wider aversion to risk in the global markets at the start of the month is mirrored by this fresh erosion of digital asset values.

Ben Emons, the founder and Chief Investment Officer of Fedwatch Advisors, indicated that following the recent Bitcoin sell-off, individuals remain "nervous," adding that a $400 million exchange liquidation is widely believed to be the reason for Monday's price reversal.

Emons, speaking on CNBC's "Squawk Box Europe" Monday, highlighted the enormous leverage prevalent across Bitcoin exchanges, which reaches up to 200x in certain instances. With an estimated $787 billion in outstanding leverage within perpetual crypto futures, against the approximately $135 billion outstanding in ETFs, "you can do the math," Emons stated. He additionally cautioned that "There is still a lot of leverage in Bitcoin out there. We can expect to some more of these liquidations if Bitcoin prices don't get off the lows from here."

The Monday price dip transpired on the heels of a pronounced sell-off in October, which Emons noted also transferred to the stock market, with Bitcoin displaying a higher correlation with indices such as the Nasdaq. Citing the decentralized and opaque character of the asset class and crypto exchanges, he contended that "It's predominantly retail driven, that's the worrying part of it, because retail reacts very differently than institutional [investors]." The CNBC report concluded, "That is something to reckon with going forward from here, as more and more leverage is used in this space." Investor apprehension continues to be fueled by macroeconomic uncertainties – which include speculation about a possible US interest rate cut – while persistent questions over the inflated valuations of artificial intelligence-related stocks contributed to November's turbulent markets as crypto volatility grew.

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This significant upswing demonstrates a marked shift in attitudes toward Alphabet after the 2022 introduction of ChatGPT led certain investors to worry the firm had lost its AI advantage, despite having invented much of the foundational technology for generative AI. Alphabet recovered its momentum this year by making its cloud division a key contributor to growth, which attracted an investment from Warren Buffett's Berkshire Hathaway, and its new Gemini 3 model is garnering excellent initial reviews.

The milestone, however, could intensify anxieties among some executives who caution that rising valuations have detached market trends from business reality, prompting concerns over an economic bubble reminiscent of the 1990s dot-com era. These bubble fears are also amplified by circular transactions involving OpenAI and Nvidia, two prominent firms in the AI sector. Analysts, nevertheless, maintain that Google is strongly positioned in the AI competition because of its ample cash reserves, its own in-house chip production offering an alternative to Nvidia's expensive processors, and its massive internet search operation, which is already experiencing benefits from AI incorporation.

In October, the moment of truth arrived for the AI tech titans as investors worldwide held their breath after Wall Street's close when Microsoft, Alphabet (Google), and Meta (Facebook) – collectively worth nearly 10 trillion dollars – began releasing their quarterly earnings reports in another attempt to beat forecasts.

Google (through its parent company Alphabet) beat forecasts by 26% ($2.87 per share compared to the $2.27 expected) with revenues of 100 billion dollars. Microsoft also beat forecasts by 14% ($3.72 per share compared to the $3.6 expected). Meta on the other hand had to pay 15 billions in a one-time payment, which resulted in a miss of 84% in the earnings.

Alphabet reported more than $100 Billion of revenue in a quarter for the first time ever. Google parent company Alphabet also reported strong third-quarter results, with revenue climbing 16% year-over-year. Google Search & Other grew 15%, while YouTube Ads increased 15% during the period. Google Cloud posted the strongest growth at 34%, though Google Network saw a 3% decline. The company's EBIT rose 9.5% with a margin of 31%, and earnings per share jumped 35%.

The head of Google's parent firm Alphabet, Sundar Pichai, has recently cautioned the BBC that every company would be impacted if the AI bubble were to burst. Speaking exclusively to BBC News, Pichai acknowledged that while AI investment growth is an "extraordinary moment," there is some "irrationality" in the current boom. Amid fears in Silicon Valley of soaring valuations, Pichai warned, "I think no company is going to be immune, including us."

His wide-ranging interview at Google's California headquarters, reported by the BBC, touched on energy needs, climate targets, UK investment, and AI's effect on jobs, coming as market scrutiny intensifies. Alphabet's shares have doubled in seven months to $3.5 trillion as market confidence in its ability to counter OpenAI grows. A specific focus remains on Alphabet's competition with Nvidia, run by Jensen Huang, which recently hit a $5 trillion valuation, even as analysts question the $1.4 trillion in deals surrounding OpenAI.

Pichai's remarks about "irrationality" echoed Alan Greenspan's 1996 "irrational exuberance" warning during the dotcom boom. Pichai told the BBC the industry can "overshoot" in such cycles. "We can look back at the internet right now. There was clearly a lot of excess investment, but none of us would question whether the internet was profound," he said. "I expect AI to be the same. So I think it's both rational and there are elements of irrationality through a moment like this." His comments follow a similar warning from JP Morgan's Jamie Dimon, who told the BBC some AI investments would "probably be lost." Pichai argued Google's "full stack" model provides a better position to handle turbulence.

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The decision was largely anticipated by market analysts, as recent economic data indicated a continued moderation in inflation and mounting pressure on the real estate sector. The last time the Bank of Israel lowered its rate was in January 2024, when it reduced the rate by 25 basis points from 4.75% to 4.50% Since that time, the rate had been held constant for 14 consecutive meetings.

The Bank of Israel's monetary policy over the past two years was dominated by two primary factors: high domestic inflation and the geopolitical instability arising from the war that began in late 2023.

Aggressive tightening cycle, then war

From 2022 into 2023, the central bank engaged in an aggressive tightening cycle, raising the interest rate from a near-zero level to a peak of 4.75% by May 2023. This was a direct response to global and domestic inflationary pressures, which saw Israel's annual inflation peak above 5 in early 2023.

Following the January 2024 cut to 4.5%, the Monetary Committee adopted a cautious "wait-and-see" approach. Throughout 2024 and most of 2025, the rate remained at 4.5%. The rationale for this prolonged hold was a need to maintain financial stability and reduce uncertainty amid the ongoing conflict.

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At 4 p.m. ET (right after the markets close on Wall St.), the company is expected to release the figures for Q3 and guidance for the current quarter and year ahead on its investor relations section on its website. The conference call, which people can join through the site, will be held an hour later (at 5 p.m. ET), as unease regarding Silicon Valley's massive artificial intelligence spending grows. Financial Times notes options trading implies a 6.4% price shift for the chipmaker on Thursday. 

This volatility follows an 11% share price drop for the firm, which briefly hit a $5 trillion market cap in late October, driven by a broader sell-off among major artificial intelligence players.

Julian Emanuel, Evercore ISI's chief equities strategist, was quoted by FT as saying, "The angst around 'peak AI' has been palpable." The California firm's disclosures heavily influence the tech-dominated US market given its central role in the artificial intelligence boom, according to Financial Times. Wednesday's figures arrive as sector enthusiasm cools, with the Nasdaq Composite falling over 4% recently and major drops for Meta and Oracle.

The company stock has demonstrated remarkable consistency in exceeding Wall Street expectations across its last three earnings reports, reinforcing investor confidence in the company's execution amid record demand for AI infrastructure, but the most recent earnings beat was not enough to assuage investors concerns of a slowdown after it said that data center sales of $41.1 billion fell slightly short of expectations, resulting in a market sell-off. However, it then pared its losses and even reached new high. In recent days it shed some gains because of the macro concerns in the industry and overall investor sentiment on the so-called "AI bubble" and potential funding obligations for various players in the field. The following table documents the company's projected versus actual earnings results:

Here are the figures for Nvidia's most recent earnings reports.

Fiscal Quarter	Projected EPS	Actual EPS	Beat/Miss	Projected Revenue	Actual Revenue	Result
Q2 FY2026 (Aug 2025)	$1.01	$1.05	Beat (+$0.04)	$46.05B	$46.74B	Beat
Q1 FY2026 (May 2025)	~$0.94	$0.81 (GAAP) / $0.96*	Beat*	$43.2B	$44.1B	Beat
Q4 FY2025 (Feb 2025)	$0.84	$0.89	Beat (+$0.05)	$38.32B	$39.3B	Beat

Why Nvidia earnings matter

Nvidia's quarterly results carry outsized significance for the broader market due to the company's commanding position in AI infrastructure and its substantial weight in major indexes. Nvidia's grip on the AI chip market is extraordinarily tight: The company controls roughly four of every five AI GPU dollars spent globally in 2025, a competitive moat that positions it as the essential infrastructure vendor for every organization building AI systems. The result is dramatic revenue concentration within a single business: The data center division generated $41.1 billion over the second quarter, a figure that represents nearly nine of every ten dollars the company collected and implies the segment is expanding at a 56% annual rate.

The company's GPU shipments and data center revenue serve as critical barometers for the health of AI capital expenditures, with CEO Jensen Huang projecting $3-4 trillion in global AI infrastructure spending through the end of the decade. Consequently, Nvidia's earnings reports provide investors with authoritative insights into AI adoption trends, cloud spending patterns among hyperscalers like Microsoft and Amazon, and the sustainability of the AI boom that has propelled technology stocks to record valuations.​

Mike Zigmont, co-head of trading at Visdom Investment Group, told FT: "In the run-up to Nvidia's earnings announcement, we're experiencing cold feet and worry that prices went too high to justify." He added, "If Nvidia delivers disappointing guidance Wednesday, the [market] is going to sink significantly."

What analysts expect

The Street is bracing for Nvidia to deliver $1.26 in adjusted EPS, which would translate to roughly 6-in-10 earnings growth compared to year-ago levels and represent an 18% step-up from the prior quarter's $1.05.

Wall Street's consensus revenue target clusters in the $54.6 to $55.2 billion band – a range that embeds roughly 56% growth versus the prior year and approximately 17% sequential expansion from Q2's $46.74 billion run rate. The critical nuance: Street participants are signaling that anything in the $55 billion vicinity would represent a meaningful outcome, with sub-$55 billion results likely disappointing investors who have front-loaded such elevated expectations. Bull-case scenarios from major investment banks like Morgan Stanley and JPMorgan suggest potential for Q3 revenues to approach or exceed $56 billion, contingent on Blackwell shipment acceleration outpacing prior guidance.

Wednesday saw Asian exchanges faltering as apprehension regarding AI-focused tech valuations depressed the mood prior to Nvidia's earnings release. Overnight drops of 1.2% hit the Nasdaq, stretching declines into a second session and pulling back over 6% from record highs set in late October. While futures for the S&P 500 and Nasdaq 100 dipped deeper, European futures showed mixed results. Japan's Nikkei, suffering the region's sharpest monthly fall of roughly 7% in US dollar terms, erased initial advances to flatline. Both Hong Kong stocks, down 0.5%, and mainland China indexes, which held steady, reacted to the shift.

Nvidia's contribution to the artificial intelligence surge has driven the global rally lifting AI-connected shares and the tech sector for many months, but there is concern this at some point will have to plateau as demand ultimately declines, with the Q2 Nvidia figures (a slight miss on the data centers) being one such indication, although this was explained as a direct result of the restrictions on doing business with China. Compounding investor uneasiness are uncertainties regarding potential December interest rate cuts by the US Federal Reserve, alongside fears that President Donald Trump's slipping approval numbers might trigger inflationary fiscal spending. These elements prevented safe-haven US Treasuries from rallying, keeping the 10-year benchmark yield at 4.12%.

What to watch in the results: Key metrics that will drive the stock

The earnings report will reveal several critical metrics that traders and institutional investors will dissect for clues about Nvidia's near-term trajectory and the health of the broader AI infrastructure cycle. Blackwell GPU execution represents the highest-stakes metric, as successful production ramp and early shipments of the B200 and B100 processors will validate management's guidance and signal whether the company can overcome previous supply-chain constraints. Analysts expect Blackwell to contribute meaningfully to Q3 results, with Morgan Stanley noting that the acute supply-side friction that plagued Nvidia's operations has substantially eased at the GPU level, though the company now faces competing limitations in complementary infrastructure – particularly power delivery, server architecture, data center real estate, and storage systems – rather than chip fabrication capacity.​

Data center revenue and margin integrity will determine whether Nvidia can maintain premium pricing despite increased competition. Investors expect the segment to deliver approximately $48 billion in revenue, or roughly 87-89% of total company sales. Additionally, traders will scrutinize inventory levels and order pipeline visibility, as hyperscaler overcapacity or hesitation to place new orders could signal that the AI investment cycle is moderating.​

Forward guidance for Q4 represents the single most important catalyst for the stock's immediate reaction. Analysts project between $61.29 billion and $61.57 billion, but guidance below $60 billion would be viewed as severely disappointing and likely trigger a sharp selloff. Management commentary on several qualitative factors will also matter enormously: The confidence level around continued cloud provider commitment to AI capex, commentary on China market prospects amid export restrictions, and clarity on the competitive landscape as AMD, Intel, and custom chips from hyperscalers gain adoption. Finally, traders will listen closely for any discussion of the $500 billion in chip orders Jensen Huang announced in September, attempting to gauge when those commitments will convert to actual revenue.​

Nvidia stock volatility: Historical reactions to earnings

Nvidia's share price has historically exhibited significant volatility around earnings announcements, with single-day moves often exceeding 5-10% depending on whether results meet or miss expectations relative to the elevated consensus forecasts. Market participants are bracing for a 6% to 8% implied move in the stock immediately following the Q3 report, based on options market pricing. Historical patterns reveal that Nvidia's post-earnings performance varies considerably depending on the magnitude of earnings beats and guidance revisions.

 

Over the past four quarters, Nvidia has experienced highly disparate outcomes depending on whether management commentary reinforced or tempered market optimism about AI demand durability.

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The undisputed headline of the week is Nvidia's Wednesday after-market earnings report, which has become the single most anticipated corporate announcement of Q3. The AI chipmaker, which recently made history by reaching a $5 trillion market cap, is expected to report revenue of $54.8 billion with 56% year-over-year growth, driven primarily by a staggering $500 billion order backlog for fiscal years 2025 and 2026 from hyperscalers seeking artificial intelligence accelerators. However, the company faces an unprecedented headwind: US export restrictions have effectively eliminated its market access in China, erasing what was once a 95% market share and representing an estimated annual revenue loss in the tens of billions. Wall Street remains bullish despite these geopolitical challenges, viewing the report as a validation of the AI revolution's ongoing momentum, though any signs of demand deceleration could trigger significant market volatility.​

Retail earnings take center stage with 11 major retailers reporting throughout the week, offering a comprehensive window into consumer spending patterns as the holiday season approaches. Home Depot and Lowe's report early in the week, and their results will reveal whether consumers remain willing to fund big-ticket home improvement projects despite elevated mortgage rates dampening housing turnover. More significantly, the week culminates with reports from Walmart and Target, which are two bellwether retailers whose results on Wednesday and Thursday will definitively signal whether consumers are genuinely healthy or merely masking weakness behind a bifurcated economy where higher-income households spend at 2.7% growth while lower-income groups lag at just 0.7%. The National Retail Federation is forecasting that holiday sales will exceed $1 trillion for the first time in history, growing 3.7-4.2% over 2024, but these retail earnings will either validate or challenge that optimistic outlook.​

Beyond retail, the technology sector features several significant reports beyond Nvidia, including Snowflake's cloud data platform results on Wednesday after-market, where investors will scrutinize whether the company's recent artificial intelligence partnerships with Nvidia are translating into accelerated customer adoption. Palo Alto Networks, Intuit, and Veeva Systems round out the software earnings wave, with all three reporting around Nvidia's results on Wednesday and Thursday. These companies collectively represent the infrastructure and application layer of the artificial intelligence boom, and their results will help investors determine whether the AI spending is truly multi-layered across chips, software, and services, or whether it remains concentrated in chip suppliers.​

Chinese technology and e-commerce companies dominate Monday and Tuesday, with PDD Holdings, Baidu, Trip.com, and later Alibaba providing crucial insights into consumer behavior in the world's second-largest economy. These reports come as Chinese tech firms navigate intense domestic competition, regulatory scrutiny, and ongoing US-China trade tensions, making their results particularly important for understanding global technology trends. Additionally, Chinese electric vehicle manufacturers including XPeng, Li Auto, and NIO report this week, offering a window into the brutally competitive EV market where domestic manufacturers are racing to capture market share amid slowing overall demand.​

The earnings released this week will ultimately answer a fundamental question facing markets: Can the artificial intelligence boom sustain its explosive trajectory while consumers remain resilient enough to support the holiday shopping season and beyond? With profit margins at their highest levels since 2009 despite significant tariff pressures, companies have demonstrated remarkable pricing power. However, potential headwinds including geopolitical tensions, potential changes in trade policy, and questions about whether enterprises will sustain their unprecedented AI infrastructure spending could quickly shift the earnings momentum that has carried markets higher. The next five trading days will provide critical data points that will either confirm the bullish narrative underpinning current market valuations or suggest that caution may be warranted as 2025 winds down.

A half-trillion dollar chip order disclosure from Nvidia chief executive Jensen Huang in October has prompted Wall Street analysts to significantly elevate their 2026 revenue expectations for the AI semiconductor leader. The statement at the company's Washington GTC conference revealed combined 2025-2026 bookings worth $500 billion, encompassing current Blackwell GPU sales, next year's Rubin chip deliveries and networking components. Wolfe Research analyst Chris Caso calculated the data suggested potential data center revenue exceeding prior calendar 2026 projections by $60 billion, noting, "NVDA's disclosures suggest clear upside to current consensus estimates."

Despite Huang's bullish disclosure, shares currently trade 5% beneath their October 28 levels, reflecting investor uncertainty about whether hyperscalers and AI laboratories are overcommitting capital to infrastructure. Wednesday's third-quarter results are expected by LSEG-surveyed analysts to deliver $54.9 billion in sales with $1.25 earnings per share, marking 56% year-over-year expansion. January quarter guidance projections stand at $61.44 billion. Any Huang commentary addressing the sales pipeline and 2026 outlook will face intense scrutiny given current analyst consensus of $286.7 billion in 2026 revenue.

Huang's customer base encompasses every major technology company worth multiple trillion dollars, with Google, Amazon, Microsoft and Meta all announcing elevated AI infrastructure capital expenditure during October earnings. Oppenheimer analyst Rick Schafer characterized the spending pattern as demonstrating "insatiable AI appetite." Major dealmaking marked the quarter, led by Nvidia's $10 billion OpenAI equity commitment in exchange for the startup purchasing 4 million to 5 million GPUs across multiple years. Additional investments included $5 billion in Intel and $1 billion in Nokia. Citi analyst Atif Malik identified the OpenAI arrangement as Wednesday's key investor focus, writing, "Although concerns around the mix of debt and circular financing around AI capex froth exist, we fundamentally see AI supply below demand."

Nvidia commands more than 90% of the AI GPU market despite growing custom chip promotion from customers including Amazon's Tranium processors, Google's TPU chips, and forthcoming OpenAI semiconductors developed with Broadcom. Current projections exclude China sales following the H20 chip's export restrictions earlier this year, though Huang secured August licenses from President Donald Trump exchanging government receipt of 15% China revenue for export approval. Oppenheimer's Schafer estimates China represents potential annual revenue exceeding $50 billion. When CNBC inquired in late October about selling Blackwell-generation chips to China, Huang stated: "I hope so. But that's a decision for President Trump to make."

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Nvidia shares declined 0.95% in premarket trading following the announcement, which contributed to SoftBank's doubled fiscal second-quarter profits alongside a $19 billion Vision Fund gain. The chipmaker exit marks SoftBank's second divestment from Nvidia since initially accumulating a $4 billion position in 2017 before selling in January 2019, though the Tokyo-based firm maintains operational ties through AI ventures including the $500 billion Stargate data center project, CNBC reported.

New Street Research analyst Rolf Bulk told CNBC the sale should be interpreted not as skepticism toward Nvidia but rather "in the context of SoftBank needing at least $30.5B of capital for investments in the Oct-Dec quarter, including $22.5B for OpenAI and $6.5B for Ampere" – representing "more in a single quarter than it has invested in aggregate over the two prior years combined."

SoftBank's Vision Fund generated its $19 billion quarterly gain primarily through OpenAI and electronic payment service PayPay investments as the vehicle aggressively expanded across artificial intelligence technologies from semiconductors to language models and robotics. Goto credited the timing of SoftBank's initial OpenAI investment in September of the previous year for the results, noting the startup's $500 billion valuation ranks among the world's highest, CNBC reported.

The Japanese conglomerate experienced recent stock volatility amid broader market concerns about artificial intelligence valuations, prompting Goto to tell shareholders Tuesday: "Our share price recently has been going up and down dynamically… we want to provide as many invest opportunities as possible." The company's announced four-for-one stock split aims to expand shareholder investment access, according to CNBC.

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Deployment of the GPUs is expected in phases through 2026. This rollout will occur at IREN's 750MW Childress, Texas campus, alongside new liquid-cooled data centers supporting 200MW of IT load. IREN anticipates funding these capital expenditures through existing cash, customer prepayments, operating cashflows, and other financing initiatives.

"This agreement not only validates IREN's position as a trusted provider of AI Cloud services, but also opens access to a new customer segment among global hyperscalers," Roberts continued, according to GLOBE NEWSWIRE. "It marks another major step forward for IREN as we continue to expand large-scale GPU deployments across our 3GW secured power portfolio in North America, reinforcing our position as a leading AI Cloud Service Provider."

Jonathan Tinter, Microsoft's President of Business Development and Ventures, also provided commentary, GLOBE NEWSWIRE reported. "Together with IREN, Microsoft is delivering cutting-edge AI infrastructure for our customers.

"IREN's expertise in building and operating a fully integrated AI cloud – from data centers to GPU stack – combined with their secured power capacity makes them a strategic partner," Tinter stated, according to GLOBE NEWSWIRE. "This collaboration unlocks new growth opportunities for both companies and the customers we serve," he concluded, as per GLOBE NEWSWIRE.

Meanwhile, Microsoft Corp. said on Monday that it has committed to a substantial $7.9 billion investment in the United Arab Emirates over the next four years, a move set to significantly advance the nation's status as a global technology hub, according to reporting by Bloomberg.

Microsoft stated it intends to expend in excess of $7.9 billion on data centers, cloud-computing, and personnel within the United Arab Emirates during the upcoming four years, Bloomberg reported. This initiative supports the Gulf state's objective of transforming into an international technology center.

The commitment was announced by Microsoft president Brad Smith on Monday in Abu Dhabi, according to Bloomberg. This pledge encompasses intentions to nearly treble the quantity of Nvidia Corp. advanced chips that Microsoft utilizes in the country, importing essential equipment that has faced restrictions from the US government.

"This is not money we're raising here. It's money we're investing and spending here," Smith conveyed to Bloomberg Television during the Adipec oil conference in Abu Dhabi. "We are seeing demand here explode," the Bloomberg Television interview noted.

Access to leading semiconductors in the Gulf state remains a complex issue. Bloomberg reported in October the US approved chip exports to American firms in the UAE following a deal that sparked security concerns, though not yet to Emirati firms like G42. Some US officials have criticized placing critical equipment in the Middle East, fearing the tech could move to China. Microsoft, however, said it received US licenses in September to ship AI chips to the UAE. "They're not just acts of faith," Smith stated, per Bloomberg. "We had to satisfy very strict conditions about the cybersecurity, the physical security, the other security protection of these chips to ensure that they stay under our control."

The company previously deployed 21,500 Nvidia A100-equivalent chips in the UAE and plans to ship 60,400 more, including the GB300, arriving "in months, not years," according to Smith, as cited by Bloomberg. In a separate move reported by Reuters, Microsoft struck a $9.7 billion deal with data-center operator IREN for Nvidia's advanced chips. That agreement, aimed at easing the AI boom's computing crunch, sent IREN shares up over 20%. Dell will provide IREN with $5.8 billion in equipment, including GB300 chips, for Microsoft's use.

The five-year IREN deal highlights the AI industry's need for computing power, Reuters noted, as capacity shortages limit major tech firms. The partnership allows Microsoft to expand capacity without building new data centers or securing power, and it avoids heavy spending on chips that will quickly lose value. IREN, valued at $16.52 billion, operates renewable-energy-powered data centers in North America. IREN said the new processors will be deployed at its Texas campus by 2026, alongside new liquid-cooled data centers. A filing indicated Microsoft's prepayment helps finance IREN's $5.8 billion Dell deal.

Microsoft CFO Amy Hood stated last week that the company's AI capacity crunch is now expected to extend until at least mid-2026, revising an earlier prediction, according to Reuters. Reporting was provided by Deborah Sophia and Aditya Soni in Bengaluru, and the piece was edited by Arun Koyyur for Reuters.

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Futures contracts for the S&P 500 advanced 0.1% while Dow Jones Industrial Average futures remained unchanged after both benchmarks finished the previous month with gains, Wall Street Journal stated. The ongoing government shutdown, now in its 34th day, will keep investor attention focused on corporate earnings, with approximately one-quarter of S&P 500 constituent companies scheduled to release quarterly results during the coming week.

Asian equity markets closed Monday's session with gains, Wall Street Journal reported. South Korea's Kospi index surged 2.8%, propelled by semiconductor manufacturers and major technology-related companies. Mainland Chinese stock markets finished higher, receiving support from petroleum and banking sector shares. Shanghai's composite index led the regional advances with a 0.6% gain, while the Shenzhen and ChiNext indexes climbed 0.4% and 0.3% respectively, according to Wall Street Journal. Hong Kong's Hang Seng index rose 1%. Japan's Nikkei remained closed due to a public holiday.

European equity indexes opened the new month with advances, Wall Street Journal stated. London's FTSE 100 index gained 0.2%, Germany's DAX climbed 0.7%, France's CAC 40 advanced 0.1%, and the pan-European Stoxx 600 rose 0.3%. Energy sector shares boosted the markets following OPEC+'s decision to halt production increases for the opening three months of 2026, according to Wall Street Journal. BP shares advanced over 1% after the oil major completed the sale of interests in certain US midstream assets for $1.5 billion. Ryanair shares disappointed investors, declining 1.5% after the airline failed to provide concrete guidance for fiscal year 2026, though the company indicated expectations to recover previous year declines and report reasonable net profit growth.

The dollar retreated slightly from recent gains due to uncertainty regarding whether the Federal Reserve will implement another interest rate reduction in December, Wall Street Journal reported. The Fed reduced rates by 25 basis points as anticipated last week, but Fed Chair Jerome Powell stated a December reduction was not a foregone conclusion. Comments from Fed members since the meeting revealed differing viewpoints. Market pricing indicates a 68% probability of another cut in December, according to LSEG data. The DXY dollar index fell 0.1% to 99.745 but remained near the three-month peak of 99.844 reached Friday.

Eurozone government bond yields registered marginally higher levels in early trading, searching for new catalysts, Wall Street Journal stated. "In the coming days, data, central bank comments and [bond] supply are likely to amplify the background noise rather than provide new direction," Commerzbank Research's Rainer Guntermann said in a note, according to Wall Street Journal. The 10-year German Bund yield climbed 1.1 basis points to 2.647%, while the 10-year Italian BTP yield edged up 0.5 basis points to 3.391%, based on Tradeweb data.\

US Treasury yields exhibited mixed trading patterns as European markets opened, Wall Street Journal reported. While the US government shutdown continues, potential catalysts for Treasury markets this week include Wednesday's quarterly refunding announcement. Markets also continue processing Powell's message from last week that a December rate cut was not guaranteed. The two-year Treasury yield declined 1.8 basis points to 3.587%, the 10-year Treasury yield rose 0.4 basis points to 4.103%, and the 30-year yield increased 1.2 basis points to 4.680%, according to Tradeweb data.

Bitcoin declined as doubts over whether the Fed will reduce interest rates in December curtailed demand for riskier assets, Wall Street Journal stated. Bitcoin fell 2.3% to $107,490, LSEG data showed.

Oil prices advanced after OPEC+ agreed to pause output increases for the first quarter of next year, easing concerns about a growing supply surplus, according to Wall Street Journal. Brent crude rose 0.3% to $65 per barrel, while West Texas Intermediate climbed 0.4% to $61.21 per barrel. Key members of the producer group decided to raise production by 137,000 barrels daily for December before pausing increases from January through March.

Gold rose in early trading, with New York futures advancing 0.7% to $4,026.50 per troy ounce, Wall Street Journal reported. Investors continued digesting last week's US-China trade agreement, which provided short-term market relief but addressed few fundamental divergences between the two nations. Spot gold declined 0.5% to $4,002.81 per ounce after China reportedly eliminated a longstanding gold-tax incentive, according to reports cited by Wall Street Journal.

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An unforeseen 10% tax on payments Brazilian entities make to foreign operations created the expense not factored into earlier forecasts, CNBC reported. Chief Financial Officer Spence Neumann explained during the earnings call that "It's not a tax that's specific to Netflix. It's not even specific to streaming," adding "Absent this expense, we would have exceeded our Q325 operating income and operating margin forecast, and we don't expect this matter to have a have a material impact on our results going," as quoted by CNBC.

Third-quarter revenue climbed 17% to $11.51 billion, matching analyst projections, while earnings reached $5.87 per share against the $6.97 estimate, according to CNBC. Netflix forecasts full-year revenue of $45.1 billion, a 16% increase, though operating margin expectations dropped to 29% from 30% due to the Brazilian matter.

Despite the earnings shortfall, Netflix achieved record advertising sales during the quarter, with co-CEO Greg Peters noting the company will more than double ad revenue this year, CNBC reported. EMarketer senior analyst Ross Benes observed that "Netflix had its best ad sales quarter to date, but still did not provide a figure for how large the ad business is," suggesting "This gives the impression that the sustained revenue growth achieved this quarter, and forecasted for next quarter, will predominantly continue to come from subscription fees," as quoted by CNBC.

The platform's fourth-quarter content roster features the final "Strangers Things" season, new installments of "The Diplomat" and "Nobody Wants This," plus Guillermo del Toro's "Frankenstein" and Rian Johnson's "Wake Up Dead Man: A Knives out Mystery," CNBC noted. Meanwhile, "KPop Demon Hunters" has generated over 325 million views since its June release, becoming Netflix's most-watched film.

Netflix announced Tuesday it's expanding "KPop Demon Hunters" into consumer products through partnerships with Hasbro and Mattel, with dolls, plush toys and games arriving at retailers spring 2026, according to CNBC. The company also explores opportunities in live experiences, publishing, beauty, lifestyle, food and beverages connected to the film, with theatrical screenings returning during Halloween weekend.

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The collaboration focuses on seamlessly connecting NVIDIA and Intel architectures using NVIDIA NVLink technology, integrating NVIDIA's AI and accelerated computing capabilities with Intel's CPU technologies and x86 ecosystem to deliver advanced solutions for customers.

NVIDIA produces its chips mainly in Taiwan through Taiwan Semiconductor Manufacturing Company. Intel's expanded role in chip manufacturing, particularly through the NVIDIA partnership, offers a critical pathway to reducing the geopolitical risks associated with Taiwan's semiconductor dominance and the fragility of the industry should there be a cross-strait escalation between mainland China and the island, which Beijing considers a renegade province.

As one of the few companies globally with advanced foundry capabilities, Intel provides a geographically diversified alternative to Taiwan Semiconductor Manufacturing Company (TSMC), which currently dominates global chip production. Intel's manufacturing infrastructure is primarily based in the United States, with major facilities in Oregon, Arizona, New Mexico, and planned expansions funded by the CHIPS Act.

For data centers, Intel will build NVIDIA-custom x86 CPUs that NVIDIA will integrate into its AI infrastructure platforms and offer to the market. In the personal computing space, Intel will build and market x86 system-on-chips (SOCs) that integrate NVIDIA RTX GPU chiplets. These new x86 RTX SOCs will power a wide range of PCs requiring integrated high-performance CPUs and GPUs.

As part of the agreement, NVIDIA will invest $5 billion in Intel's common stock at a purchase price of $23.28 per share. The investment remains subject to customary closing conditions, including required regulatory approvals.

"AI is powering a new industrial revolution and reinventing every layer of the computing stack – from silicon to systems to software. At the heart of this reinvention is NVIDIA's CUDA architecture," said NVIDIA founder and CEO Jensen Huang. "This historic collaboration tightly couples NVIDIA's AI and accelerated computing stack with Intel's CPUs and the vast x86 ecosystem – a fusion of two world-class platforms. Together, we will expand our ecosystems and lay the foundation for the next era of computing."

Intel CEO Lip-Bu Tan commented: "Intel's x86 architecture has been foundational to modern computing for decades – and we are innovating across our portfolio to enable the workloads of the future. Intel's leading data center and client computing platforms, combined with our process technology, manufacturing and advanced packaging capabilities, will complement NVIDIA's AI and accelerated computing leadership to enable new breakthroughs for the industry. We appreciate the confidence Jensen and the NVIDIA team have placed in us with their investment and look forward to the work ahead as we innovate for customers and grow our business."

NVIDIA produces its chips mainly in Taiwan through Taiwan Semiconductor Manufacturing Company . Intel's expanded role in chip manufacturing, particularly through the NVIDIA partnership, offers a critical pathway to reducing the geopolitical risks associated with Taiwan's semiconductor dominance. As one of the few companies globally with advanced foundry capabilities, Intel provides a geographically diversified alternative to Taiwan Semiconductor Manufacturing Company (TSMC), which currently dominates global chip production. tel's manufacturing infrastructure is primarily based in the United States, with major facilities in Oregon, Arizona, New Mexico, and planned expansions funded by the CHIPS Act.

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