The market capitalization of global large companies, led by prominent technology firms, increased in November, driven by a decline in yields in the U.S. and growing anticipation of potential rate cuts by global central banks amid decreasing concerns about inflation.
Apple’s market value jumped 11.2% to $2.95 trillion last month, while Microsoft recorded a market capitalization increase of 12.1%, reaching $2.8 trillion.
Nvidia Corp’s market capitalization rose by 14.7% to $1.15 trillion, following the announcement of a 206% increase in revenue compared to last year. The company also projected revenue higher than expected for the fourth fiscal quarter, citing improved supply chain conditions and strong demand for artificial intelligence chips.
Decreasing concerns about inflation also provided a significant boost to banking stocks. JPMorgan Chase & Co recorded a market capitalization increase of 12.2% to $451 billion by the end of November.
In other sectors, Tesla’s market value rose nearly 20% last month to $763.2 billion, following price increases for Model 3 and Y vehicles in China. Despite the cessation of subsidies, China recorded an increase in electric vehicle sales in October, according to market research firm Rho Motion.
On the other hand, the decline in oil prices led to a decrease in the market capitalization of major oil companies. Saudi Arabian Oil Co and Exxon Mobil Corp recorded a market capitalization decline of 0.3% and 2.9%, respectively.
