Week Recap: Nvidia released results, but it were not enough for the market. On the final day, rate cut hopes lift the indexes. Does the stock market have a bubble? Nov. 17, 2025 – Nov. 21, 2025

First of all, I don't want to be misunderstood. This heat map is weekly that it visualized via closing prices from November 14 to November 21.

This week, our agenda had 3 main topics: Nvidia's results, Fed rate cut expectations, and tariffs. Tariff pressures decreased compare to recent weeks, but it's still on the table.

📊 Here are the S&P 500's week-by-week results for the last 4 week,

October 24 close at 6,791.69 – October 31 close at 6,840.20 🟢 (+0.71%)

October 31 close at 6,840.20 – November 7 close at 6,728.81 🔴 (-1.63%)

November 7 close at 6,728.81 – November 14 close at 6,734.11 🟢 (+0.08%)

November 14 close at 6,734.11 – November 21 close at 6,602.96 🔴 (-1.95%)

🔸 Monday: After the last two negative days of the previous week, the stock market opened in same path and lower. The economical datas had started from this week. The main focus is Nvidia's result that came after the session of Wednesday's. The flight operations returned to normal. Warren Buffett released his portfolio and revealed $4.9B Google stake, and Google gained more than 3% at the close. It was a bad day. The stock market closed lower more than 1%. The Nasdaq led. 🔴

🔸 Tuesday: The government was closed for 43 days and a lot of data could not be released. Before the session, Jobless Claims for the week ended October 18 were released on the government website at 232K. Meanwhile, Trump said we want 1% inflation. The stock market opened lower again. Fed's Barkin said he agrees with Powell that a December interest rate cut is not a foregone conclusion. Trump also said he has chosen next Fed chair. The stock market closed lower and extended losing streak to 4-day. Gold drooped and jumped $4,000 again. 🔴

🔸 Wednesday: The big day of the week arrived. Nvidia's result had released after the session. Bessent said Trump to decide on the next Federal Reserve Chair before Christmas. The stock market opened higher after 4-day losing streak. During the session, Fed minutes were released and shows that several participants were against rate cut. The stock market closed higher. 🟢

🔸 Thursday: Nvidia released results and Q4 revenue outlook topped estimates. The stock gained more than 5% in the futures market. U.S. continuing jobless claims rise to 1.974M and it's highest since November 2021. The stock market opened higher more than 1%, but it could not hold gains and closed lower more than 1.5% in final hour. The S&P 500 closed at the support around 6,500. It's lowest level since October 14. Nvidia closed lower more than 3%. It has high volatility from 5% to -3%. Gold held steady, but silver crashed. 🔴

🔸 Friday: Trump removed 40% tariff on Brazilian beef and coffee. Fed's Williams said that we don't have insights on whether market overvalued. He also said support for rate cut. The stock market opened higher after Thursday's heavy selling. Michigan 1-Year Inflation Expectations came at 4.5%. It was 4.7% in previous month. The stock market closed higher on renewed rate cut hopes. The S&P 500 gained 1%. 🟢

Nvidia's result was strong. The investors preferred to bull side in futures market, but during the session, it turned to opposite. Rate cut expectations remains uncertain. During the week, The possibility of 25 point rate cut fell below 50% on The CME FedWatch tool, but now it's up to 71%. It was tough week. The S&P 500 dropped 1.95% and it's biggest lost since the week of October 5. It seems that volatility will continue until the Fed rate cut decision. Overall, I'm still optimistic side especially Nasdaq.

What do you think? What do you think? How was your week?

❓ Note: Many people have asked where screenshots come from in my previous posts. I'm using Stock+ on iPhone and iPad. You can find it on the App Store. If you're using Android, I'm now sure if it's available, but you can try searching "Stock Map" or "Heat Map".