S&P 500 Futures Edge Higher as November Trading Begins; Nvidia, Micron, and AI Stocks Lead Rally

U.S. stock futures kicked off November 2025 on a strong note, buoyed by tech stocks and renewed optimism in artificial intelligence.

S&P 500 futures rose 0.3%, Nasdaq-100 gained 0.6%, while Dow Jones futures slipped slightly by 0.1% as investors balanced upbeat earnings with political uncertainty in Washington.

Highlights

S&P 500 futures rose 0.3% to start November trading.

Tech stocks led the rally — Nvidia, Micron, AMD up over 1–3%.

Microsoft gains export license to ship Nvidia chips to UAE.

Berkshire Hathaway reports 200% jump in insurance earnings.

Kimberly-Clark to acquire Kenvue in a $48.7 billion deal.

Wall Street Opens November on a Positive Note

Tech Stocks Drive Gains

Micron Technology led the semiconductor rally, rising 3%, followed by Nvidia (+2%) and AMD (+1%). The VanEck Semiconductor ETF (SMH) also gained 1%.

Other major tech names such as Meta Platforms and Palantir advanced in premarket trading.

Nvidia’s rally came after Microsoft announced that it had secured export licenses from the U.S. Commerce Department to ship Nvidia GPUs to the UAE, expanding its regional investment to $15.2 billion through 2029. The move reinforces Microsoft’s growing footprint in global AI infrastructure.

Strong Earnings Season Lifts Investor Sentiment

Wall Street continues to ride on strong third-quarter earnings. Out of 300+ S&P 500 companies that have reported so far, over 80% have beaten analyst expectations, according to FactSet.

This week, more than 100 major firms, including McDonald’s, Palantir, and AMD, are set to announce their results.

Analyst Tom Lee from Fundstrat noted,

“The U.S. earnings picture remains strong — AI spending visibility is high, financials are innovating via blockchain, the Fed is dovish, and quantitative tightening ends on December 1.”

Seasonal Tailwinds for November

Historically, November has been the best month for the S&P 500, with an average 1.8% gain, according to data from the Stock Trader’s Almanac. This “seasonality effect” often drives investor optimism toward year-end.

Corporate Highlights

On Semiconductor (ON): Shares surged nearly 4% in premarket after posting Q3 earnings of $0.63/share on $1.55 billion in revenue, beating expectations.

Berkshire Hathaway: Warren Buffett’s firm reported a 34% rise in profits to $13.48 billion, with insurance underwriting income jumping over 200%. Cash reserves hit a record $381.6 billion.

Kimberly-Clark & Kenvue: Kimberly-Clark will acquire Kenvue — the maker of Tylenol and Motrin — in a $48.7 billion cash-and-stock deal, aiming for $1.9 billion in cost synergies within three years.

Iren Ltd: Shares rallied 22% after securing a $9.7 billion AI cloud deal with Microsoft to provide Nvidia GPUs over five years, strengthening its position in global AI infrastructure.

Market Outlook

Despite a temporary U.S. government shutdown delaying key economic data such as the monthly jobs report, investors remain optimistic about the broader economic trajectory.

With AI investments soaring, corporate earnings solid, and interest rates easing, analysts expect November to deliver steady gains across Wall Street.