Earnings Heat, Oil Slips, AI Surges: What Moved Markets This Week

Daniel Ledenev
Nov 23, 2025
5 min read

👋 Welcome Back Investors! (November 17 to 21, 2025)

The third week of November brought plenty of action across markets. Nvidia grabbed headlines with another powerhouse earnings report that strengthened confidence in ongoing AI demand, while Cohere CEO Aidan Gomez stirred discussion after warning that automation could reshape white collar work. US jobless claims dipped slightly, signaling resilience in the labor market even as growth cools. Bank of America added to the AI narrative by reporting productivity gains from new AI tools. Meanwhile, crude oil saw a choppy week as shifting supply expectations and geopolitical risks kept energy traders on edge.

📌 Nvidia’s Q3 Earnings

Nvidia delivered another amazing quarter this week, reporting revenue and earnings that once again topped Wall Street’s expectations as demand for its AI chips remained extraordinarily strong. Q3 sales surged as data center revenue continued to dominate, driven by massive orders from cloud providers and AI focused enterprises. The company also issued guidance that came in above analyst estimates, underscoring confidence in its supply chain and continued AI investment across the industry. But despite the huge numbers, Nvidia’s stock moved lower as investors reacted to rising concerns about margin pressure and future competition in high end accelerators.

CEO Jensen Huang highlighted explosive demand for Nvidia’s newest AI platforms, noting that adoption is accelerating across cloud, enterprise, and sovereign AI customers. Data center strength remained the core growth engine, while gaming and professional visualization performed solidly. Still, investors were cautious: with the stock already up significantly this year, expectations were high, and even strong results faced scrutiny. Questions around supply constraints, regulatory risk, and intensifying AI chip competition kept sentiment mixed following the report.

💡 Aidan Gomez Sparks Debate: AI’s Next Big Disruption Could Hit Finance

Cohere CEO Aidan Gomez made headlines this week after warning that AI is poised to reshape white collar industries, and finance may be one of the first in line. In a new interview, Gomez said the rapid acceleration of large language model adoption is already changing how analysts, bankers, and professional service workers perform their day to day tasks. His comments added fresh urgency to a growing conversation about automation, productivity, and long term job stability across the financial sector. Markets reacted with mixed sentiment as investors weighed the opportunity for efficiency gains against the uncertainty surrounding workforce impact.

Gomez emphasized that AI is becoming deeply embedded in corporate workflows, from document analysis and compliance tasks to research, forecasting, and client communications. He noted increasing demand from major banks and financial institutions looking to streamline operations as competition intensifies. Still, he acknowledged that the shift won’t be without friction; regulation, data security concerns, and the pace of adoption continue to shape how quickly firms can transform. With productivity tools rapidly evolving and expectations for automation rising, Gomez’s remarks served as a reminder that the AI boom is not just about technology, but about the future of high skilled work itself.

📊 U.S. Jobless Claims Dip as Labor Market Shows Steady Resilience

U.S. weekly jobless claims fell more than expected this week, with initial filings easing to 220,000, down from 228,000 in the prior reading. The decline signals that the labor market remains surprisingly firm despite softer economic momentum heading into year end. However, continuing claims rose, indicating that once workers lose their jobs, finding new employment is becoming more challenging, a sign of gradually cooling conditions beneath the surface. Markets viewed the report as balanced, offering neither alarming weakness nor enough slowdown to shift Federal Reserve expectations meaningfully. Economists noted that the data aligns with a broader trend: hiring is slowing, but layoffs remain historically low. This dynamic has kept consumer spending afloat and helped stabilize recession fears, even as higher rates continue to pressure business activity. With the holidays approaching and inflation moderating, investors are watching job data more closely for clues on the Fed’s next move. For now, the modest drop in claims reinforces the idea that the U.S. labor market is cooling slowly rather than cracking sharply.

🤖 Bank of America Says AI Is Already Lifting Banker Productivity

Bank of America made waves this week after reporting that new AI tools are already improving productivity and revenue generation across several of its banking teams. Executives said AI has been helping employees work faster and with greater accuracy; streamlining tasks like document processing, client research, and internal communication. The comments added to a growing industry trend, as major financial institutions accelerate AI adoption to stay competitive and reduce operational friction. Investors responded positively, viewing the update as another sign that AI integration is shifting from experimental to impactful.

According to BofA, the technology is enhancing both front office and back office workflows, enabling bankers to spend more time on strategic decisions and relationship management. Analysts noted that these early gains could scale significantly as models improve and compliance guardrails strengthen. Still, questions remain about long term cost savings, regulatory oversight, and the pace at which AI can be applied across highly sensitive financial operations.

🛢️ Crude Oil Slips Under $60

Crude oil prices fell below the $60 mark this week, extending a steady decline as traders shifted focus toward upcoming economic data and signals about global demand. The drop reflected a mix of softer growth expectations, easing supply concerns, and cautious sentiment ahead of major U.S. releases. With energy markets already under pressure from slowing manufacturing activity and weaker transportation demand, the latest slide added to a growing narrative that the year-end outlook may remain subdued. Risk appetite stayed limited, and crude struggled to find momentum despite brief intraday rebounds.

Analysts noted that traders are watching indicators like U.S. inventory levels, inflation data, and global PMI numbers to gauge how supply and demand may balance heading into early 2026. At the same time, geopolitical tensions and OPEC+ policy decisions remain potential wild cards that could shift pricing quickly. For now, crude’s move below $60 highlights a fragile market environment, one where economic softness is outweighing supply risks, and every data release has the potential to reset investor expectations.

👀 Stocks to Watch: What This Week’s Moves Reveal

Markets moved on a wave of AI earnings, shifting labor data, fresh automation debates, and a sharp drop in crude oil. Nvidia’s results boosted confidence in the AI supply chain, while comments from Cohere’s Aidan Gomez put financial-sector automation back in the spotlight. With jobless claims easing and oil sliding under $60, several sectors saw renewed attention. Here are the five stocks that stood out:

Alphabet Inc. (GOOGL | 8.4% ) — Could gain more as Nvidia’s huge AI sales signal continued cloud-infrastructure spending. Alphabet’s TPU strategy and expanding AI services position it to benefit from rising enterprise demand.
Microsoft Corp. (MSFT | 7.5%) — Stands to benefit from accelerating AI adoption across cloud customers. Strong ties to major model developers and reliance on Nvidia hardware reinforce Azure’s growth outlook.
Bank of America Corp. (BAC | 2.0%) — In focus after reporting that AI tools are boosting banker productivity. Investors are watching for operational efficiency gains to support margins in upcoming quarters.
ConocoPhillips (COP | 4.4%) — Faces pressure as crude oil slipped below $60, raising concerns around upstream profitability. Lower price realizations could weigh on near-term financial guidance.

🛎️That’s a Wrap!

The week ended with Nvidia’s massive earnings fueling AI momentum, even as the stock slipped on margin worries. Aidan Gomez sparked fresh debate about automation’s impact on finance, while Bank of America said AI is already boosting banker productivity. Jobless claims dipped, showing the labor market remains steady, and crude oil slid under $60, signaling softer demand ahead. Investors closed the week cautious but engaged as AI, labor data, and commodities continued driving market sentiment.

Until then, stay focused and stay curious. Catch you next week 👋