US consumer confidence rose to a 111.7 index in November, the highest in 16 months, the Conference Board said, citing positive expectations for jobs, low inflation and high stock prices. A record 56.4% of respondents expect stock prices to rise next year. The rise in confidence followed the November 5 election, which returned Donald Trump to the White House and gave Republicans control of Congress. Although the Conference Board did not directly link the rise to the election, it said political sentiment also played a role.

New home sales in the United States fell to their lowest level in two years in October. This was mainly due to the fact that mortgage interest rates rose and hurricanes caused delays. According to the Commerce Department, sales fell 17.3% to 610,000 homes, which is the lowest since December 2022. In September, 738,000 new home sales were recorded.

Meanwhile, U.S. home prices rose 0.7 percent in September. Prices rose 4.4 percent from September last year. Although the Federal Reserve cut its benchmark interest rate, mortgage rates rose on strong economic data and concerns that President-elect Trump's import tariffs and mass deportations could fuel inflation. The 30-year mortgage rate is now just under 7 percent.

Since Donald Trump’s election victory, U.S. financial experts have shifted their focus from inflation to rising U.S. debt, a potential recession and global trade risks as the top threats to financial stability, according to a recent Federal Reserve survey. The biggest concern is about the U.S. fiscal debt: There are fears that more government borrowing could hurt private investment and limit economic responses to a downturn. Concerns about a global trade war and weaker economic growth have also increased. These concerns are reflected in recent moves in the bond market. The yield on the U.S. 10-year Treasury note has risen sharply, even though the Federal Reserve has recently cut interest rates twice.

Eurozone business activity fell sharply in November, as the region's core services sector shrank and manufacturing slipped deeper into recession. The PMI index fell to 48.1, its lowest in 10 months. The decline reflected weaker demand, especially from abroad. Both manufacturing and services saw sharp declines in new business and export orders. The data pushed eurozone bond yields lower and the euro to its lowest level against the dollar since December 2022, as investors expect the European Central Bank to cut its key interest rate more quickly.

Stock markets rose to new highs on November 26. The S&P 500 rose 0.57% to 6,021.63, while the Dow Jones Industrial Average rose 123.74 points to 44,860.31. The Nasdaq Composite also rose 0.63% to 19,174.30. This suggests that markets have largely ignored the threat of Donald Trump’s tariff policies. Trump’s tariff plan, which calls for a 25% tariff on goods imported from Mexico and Canada and a 10% tariff on Chinese goods, initially raised concerns. However, many investors believe that the tariffs will not be fully implemented, viewing them more as a negotiating tactic than an actual policy.

OpenAI has allowed its employees to sell $1.5 billion in shares to Japan's SoftBank. SoftBank CEO, billionaire Masayoshi Son, wants to buy a larger stake in OpenAI after investing in the company in its latest funding round. Employees have until December 24 to decide whether they want to sell their shares at the same price as in the last funding round. In October, OpenAI raised $500 million from SoftBank, valuing the company at $157 billion. SoftBank is looking to increase its investments in the artificial intelligence sector, including in OpenAI. Since the launch of ChatGPT, OpenAI has grown rapidly and now has 250 million weekly active users.

On November 27, Dell and HP shares fell after both companies issued disappointing quarterly forecasts, raising doubts among investors about the recovery of the PC market. Dell's share price fell by 13%, the company lost about $ 13 billion in value. HP shares fell by 9%, as a result of which the company lost more than $ 3 billion in value. Demand for traditional computers has decreased since the pandemic, and computers running on USB are not yet very widespread.

HP CEO Enrique Lores said that sales growth from the Windows 11 update was slower than expected, with the impact likely to be felt in 2025. Dell's server business is doing well, with revenue up 58%, thanks to strong demand for servers with AI. However, some analysts are concerned that the slow rollout of Nvidia's new AI chips could impact Dell's sales.

Are you interested in investing? Discover their opportunities with Apricot Capital.

Apricot Capital is controlled by the Central Bank of RA.