12/01 U.S. stocks digested again ahead of market close after pared losses on Nvidia’s strength

12/01 U.S. stocks digested again ahead of market close after pared losses on Nvidia’s strength

The U.S. stock market started lower on the back of profit-taking sales and a sharp drop in bitcoin, citing the possibility of a rate hike in Japan. Poor manufacturing indicators are also on the back. However, as Nvidia (+1.65%) which had fallen by nearly 2 percent turned upward due to Jensen’s remarks, related companies showed solidity and positive impact on the index. However, anxiety continued as a number of thematic stocks hedging before the market closed and expanding their declines again (-0.89 percent, Nasdaq -0.38 percent, S&P 500 -0.53 percent, Russell 2000 -1.25% and Philadelphia Semiconductor Index -0.07 percent)

*Variants: Google Team Vs. OpenAI Team, ISM Manufacturing Index, Bitcoin

Broadcom (-4.19%) was recently highlighted by the news of Google Gemini 3.0’s use of its own chip (TPU), while Nvidia (+1.65%) slowed down due to competition concerns, but the market is paying attention to the difference in areas of learning and reasoning. In other words, in the learning stage, chips with high versatility and scalability, such as Nvidia’s GPU, are essential, but in the reasoning stage, price efficiency is more important because each company has a different purpose. Nvidia had been expecting a dominant share in the inference stage, but its own chip issue was highlighted, which affected the decline in Nvidia’s stock price. However, Nvidia CEO Jensen Huang said today that competition with ASICs such as Google TPU has always been about and respects their technology. However, Nvidia’s GPU and CUDA platform are overwhelming in versatility, flexibility and scalability, strongly insisting on their competitive advantage

After the related remarks, the stock price of the Google team and the OpenAI team, which were regulated in the market, were mixed, and the differentiation proceeded. In the end, most Google teams such as Alphabet (-1.56%), Broadcom (-4.19%), Celestica (-7.56%), Lumentum Holdings (-2.22%), and TTM Tech (-3.25%) fell. On the other hand, OpenAI teams such as Nvidia (+1.65%), MS (-1.07%), Softbank, Oracle (-0.50%), AMD (+1.03%), and Coreweave (+5.39%) have differentiation that increases or decreases their fall

Meanwhile, the US ISM manufacturing index recorded 48.2, falling from the previous month (48.7), continuing its contraction for nine consecutive months. In detail, the production index rebounded to 51.4, entering an expansion phase, but the new order (47.4) and employment (44.0) index fell 2.0p month-on-month. In particular, supplier transportation time fell 4.9p to 49.3, suggesting a slowdown in demand, and companies seem to have focused on reducing inventory and employment rather than investing in policy uncertainties such as tariff hikes and government shutdowns. Meanwhile, the price index (58.5) remained on the rise, indicating that the U.S. manufacturing economy continues to shrink due to lingering cost pressures

The yen strengthened and Japanese government bond rates soared due to comments by BOJ Governor Ueda suggesting a rate hike. Interest rates on U.S. government bonds also rose due to related changes and Bitcoin fell sharply, which is a negative factor in the cryptocurrency market. As interest rates on Japanese government bonds soared, the market was liquidated due to unstable yen carry trade. On top of that, CEO Strategies mentioned that if the stock price premium to the company’s net asset value falls below a certain level, liquidation of long positions, and strengthening China’s crackdown on stablecoins caused the market to fall sharply. As a result, the stock market fell sharply in early trading. In particular, the fact that the plunge in Bitcoin negatively affected major theme stocks and fell is also burdensome

*Featured stocks: Nvidia, Apple rise Vs. Broadcom, Alphabet, pharma slump

Semiconductors: Nvidia up Vs. Broadcom down and Creed jump 14% after-hours
Nvidia (+1.65%) succeeded in shifting upward after Jensen Huang strongly claimed competitive advantage over Nvidia’s GPUs and CUDA platforms, saying they have overwhelming versatility, flexibility, and scalability. Broadcom (-4.19%), which had been on the rise in related remarks, fell as it went up for sale. AMD (+1.03%) rose while Micron (+1.68%) announced expansion of HBM chip production facilities by investing 1.5 trillion yen to build next-generation AI memory chip plants in western Japan. Philadelphia’s semiconductor index fell 0.07%. After the market closed, Credo (-3.64%), a high-speed data transmission semiconductor company, announced better-than-expected earnings and guidance.

AI Server: MongoDB Jumps 14% After Hours
AI server-related companies, such as Arista Network (-1.97%), Dell (-0.94 percent), and Super Microcomputer (-1.30 percent), fell, reflecting concerns about increased input costs due to rising semiconductor chip prices. Expectations for a rebound reflecting expectations for expansion of the AI industry remain, but cost instability is a burden. Coreweave (+5.39%) and Nevis (+5.57%) are also differentiated by stock, rising on the back of Nvidia’s strength. Wolfspeed (+8.63 percent), which used to be a CREE, surged on the news of about $700 million in tax refunds related to tax credits from the U.S. National Tax Service. MongoDB (-1.05 percent), a database platform company, surged 14% after-hours due to better-than-expected earnings and guidance announcements after the market closed

Cars: Tesla’s Digestion Process Amid Vehicle Sales Concerns
Tesla (-0.01%) rose 10% last week alone, falling due to the opening of profit-taking sales due to a short-term surge, but it was weak due to the influx of backlash buying just before the market closed. The fact that Chinese electric vehicle companies’ combined sales increased only 6% year-on-year in November was also a burden, as Tesla fell 7% year-on-year between January and October. Rivian (+1.79 percent) gains after Fazel, the key player in the Rivian-Volkswagen joint venture, worked as Volkswagen’s new general manager of strategy and product strategy. Lucid (-7.81 percent) fell in 2026 after worries about survival led to smaller subsidies. GM (-0.78 percent) and Ford (-0.90 percent) also slumped

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