Global Rally as Nvidia Revives AI Optimism; Delayed Jobs Report Arrives | Bloomberg Brief 11/20/2025

The G20 summit in South Africa concluded with President Cyril Ramaphosa emphasizing a renewed commitment to multilateral cooperation, despite the absence of the United States due to a boycott initiated by former President Donald Trump. The summit aimed to address global challenges and foster collaboration among the world's largest economies.

Cathie Wood's ARK Investment Management has made headlines by purchasing shares of CoreWeave, a cloud infrastructure company backed by Nvidia, amidst a significant downturn in its stock price following a revised sales outlook. This acquisition comes as CoreWeave faces challenges in the AI market, which has recently seen volatility due to investor concerns about an AI bubble.

This week, President Donald Trump met with New York Mayor-elect Zohran Mamdani, highlighting unexpected similarities between them. Concurrently, Nvidia reported its Q3 2026 earnings, exceeding expectations, which initially boosted market sentiment. However, Bitcoin experienced a significant crash, and concerns arose regarding the Federal Reserve's potential interest rate cuts, leading to volatility in the markets.

Nvidia recently reported record earnings of $57 billion, significantly exceeding analysts' expectations and alleviating concerns regarding a potential AI bubble. This strong performance has generated excitement among investors and positively impacted market sentiment, particularly in the tech sector.

Richard Kahn and Darren Indyke, who served as CPA and lawyer for Jeffrey Epstein, have been in the spotlight due to their long-term association with the convicted sex offender. Both men deny having knowledge of Epstein's criminal activities, raising questions about their professional ethics and judgment.

The G20 summit held in South Africa successfully adopted a declaration despite a boycott from the United States, highlighting ongoing tensions within the group. The declaration addresses critical global economic issues and includes references to climate change, which contradicts the US's recent stance on climate science.

Several international airlines have canceled their flights to Venezuela following a warning from the U.S. regarding potential hazards, reflecting escalating tensions in the region. The Federal Aviation Administration (FAA) has indicated that military buildups near the Caribbean coast could pose risks to aviation safety.

US retail sales growth showed signs of moderation in September, concluding a generally strong quarter despite ongoing consumer frustrations over high prices and job security concerns. This trend reflects the complexities of consumer behavior in a challenging economic environment.