Post-Market Recap November 25, 2025

Volatility was the theme of the day—front and center. The indexes chopped around in a wide consolidation range, and if your game plan hinged on index direction, hopefully you navigated it well..

Here are todays markets:

We did get a batch of strong earnings this morning, and that sparked some impressive bullish action in a handful of names. I kept my eye on KSS, ANF, ZM, SYM, and AMTM. All five rallied throughout the day, providing ample opportunity for longs to take a position for a continuation.

GOOG continues its powerful run, fueled by momentum around Gemini 3 and speculation that Meta could opt for Google’s TPUs over Nvidia or AMD. The catch, of course, is that adopting TPUs means committing to Google Cloud’s tightly integrated stack. Some companies may prefer the modularity that AMD and Nvidia offer.

Intraday, GOOG just isn’t my kind of trade. I rarely have an edge in it—99.9% of the time it’s not worth the attempt for me. Even with the Gemini 3 headlines, it’s not an easy intraday name. Longer term, though? Completely different story. The trend is accelerating higher with real volume behind the move.

The bigger strategic takeaway from the TPU chatter is this: Nvidia is a $5T company largely because of AI and its datacenter GPU monopoly

If Google opens TPUs for purchase outside their own ecosystem, that could unlock trillions in market-cap potential as Nvidia’s dominance erodes.

If Google keeps TPUs fully in-house, the upside is more limited—simply because adoption would require full migration into Google Cloud’s walled garden.

A potential drawback of Google offering TPUs more broadly is the ecosystem challenge. Python and key machine-learning libraries would need to be adapted for TPU support. Nvidia avoids this problem because CUDA has dominated for years, giving its hardware near-universal compatibility. AMD’s ROCm has made progress, but complaints about spotty support still surface. Google, however, has had more than a decade to build out its TPU cloud platform, so it’s likely they’ve already ported—or fully rewritten—the major libraries needed to make their stack work smoothly.

Year-to-date performance:

Technology is still strong despite the recent sell-off in big tech. Consumer discretionary/cyclical is positive, but only slightly. Inflation is hovering at 3%, FedNow indicated GDP growth at 3.9%, tariffs had a substantial impact on consumer spend. Its been tough for the discretionary spend sector.