[New York Market Briefing](20th) < New York Market < Article

November 19 (local time)

New York Stock Exchange: Dow up 0.10%, S&P 500 up 0.38%, Nasdaq up 0.59%
US 10-year Treasury yield: Rose 1.10bp from previous session's 3 p.m. close to 4.1320%
US Dollar: Strengthened against the yen and euro; Dollar Index (DXY) climbed 0.602 points (0.604%) to 100.190 from 99.588
WTI crude: Fell $1.30 (2.14%) to $59.44 per barrel

Market Overview

All three major US indices closed higher. Despite ongoing concerns over an artificial intelligence (AI) bubble, a rebound in oversold tech stocks and bargain hunting drove gains. However, volatility increased during the session amid caution ahead of Nvidia's earnings and fading expectations for a Federal Reserve rate cut in December.

After the close, Nvidia Corp. reported earnings that beat expectations, sending its shares sharply higher in after-hours trading. Alphabet Inc. Class A shares rose 3.00% as its newly launched AI model Gemini 3 received positive market feedback. In contrast, Target Corp. fell 2.77% after reporting earnings below market expectations.

US Treasury prices declined, led by weakness in short-term maturities. The Bureau of Labor Statistics (BLS) canceled the release of its October employment report, and the Federal Open Market Committee (FOMC) minutes for October showed a hawkish tone, increasing the likelihood that the Fed will hold rates steady next month and putting pressure on Treasury prices.

The US dollar extended its rally for a fourth consecutive session. The DXY, which tracks the greenback against six major currencies, climbed back above the 100 mark, supported by rising Treasury yields and expectations that the Fed will keep rates unchanged in December.

New York oil prices plunged more than 2%, ending a three-day winning streak. The decline was driven by reports that the US is making renewed efforts to end the war in Ukraine and by news of rising gasoline inventories.

Daily Focus

Nvidia beats earnings estimates and raises revenue guidance; shares jump 4% after hours (comprehensive)
October FOMC minutes reveal clear divisions—"Many participants see rate hold appropriate this year" (update)
US Department of Labor cancels October employment report release; December rate cut expectations decline (update)

Key Indicators in Asia Time Zone

08:50 – Japan October exports and trade balance
10:15 – China November People's Bank of China Loan Prime Rate (LPR) for 1-year and 5-year
16:00 – Germany October Producer Price Index (PPI)
17:00 – Eurozone European Central Bank (ECB) General Council meeting

US Indicators / Corporate Earnings

22:30 – US November Philadelphia Fed Manufacturing Index
22:30 – US weekly initial jobless claims
22:45 – Speech by Beth Hammack, President of the Federal Reserve Bank of Cleveland
00:00 (21st) – US October existing home sales
01:00 – US November Kansas City Fed Manufacturing Index
01:00 – Speech by Lisa Cook, Federal Reserve Board Governor
03:00 – US 10-year TIPS auction
03:40 – Speech by Austan Goolsbee, President of the Federal Reserve Bank of Chicago

(End)

Min Jae Lee