November began strong for global markets as stock indices rallied across the board in both the US and Asia. The Dow Jones, S&P 500, and Nasdaq saw double-digit gains last month, fueled by AI optimism, tech strength, and a renewed appetite for growth stocks. The US government shutdown continues to disrupt economic data releases, while the Supreme Court prepares to rule on former President Trump’s tariffs. Investors are eagerly awaiting earnings season, with over 300 S&P 500 companies already reporting, and another 100+ set to follow. This lack of fresh economic data has led investors to focus on upcoming manufacturing and services reports that could provide key insights. Meanwhile, consumer sentiment data this Friday may reveal how resilient spending remains heading into year-end. Across Asia, markets saw strong gains fueled by optimism about technology and trade. South Korea’s Kospi surged to a record high, driven by tech shares, particularly chipmaker SK Hynix and Samsung Electronics, both benefiting from collaborations with AI companies. Japan’s markets were closed for a holiday but regional sentiment remained upbeat, with the Hang Seng gaining 1.1% and the Shanghai Composite rising slightly. In contrast, gold-related stocks in China dropped sharply after Beijing reduced tax rebates for retailers, triggering a selloff in jewelry companies like Chow Tai Fook and Laopu Gold. Geopolitical concerns lingered as President Trump claimed that Chinese leader Xi Jinping promised to refrain from actions against Taiwan during his presidency. The US dollar rose slightly against the yen, while the euro gained modestly against the greenback, reflecting cautious optimism in Asia.