Wall Street indexes soared more than 5% in November amid a raft of positive economic reports and post-election euphoria. Semiconductor equipment and technology stocks rallied more than 2% on speculation that President Biden's additional trade restrictions on China are likely to be less stringent than previously expected.
The S&P 500 and the Nasdaq Composite reversed morning losses as investors reviewed the latest quarterly results from Nvidia. European markets extended gains for the fifth session in a row, and passenger car sales gained in October after falling in the previous two months. The yen's decline is likely to prompt another intervention by the Bank of Japan.