Too much is not enough

NAB Morning Call · Nov 20, 2025 · 16m

Friday 21st November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABWhat do equity markets want? NVIDIA yesterday delivered strong earnings and talked up the opportunity. ‘We’ve entered the virtuous cycle of AI’, their CEO said yesterday. After some initial enthusiasm, US shares fell today, including a 1.5% drop in NVIDIA’s price. NAB’s Ken Crompton joins Phil to talk through the caution in equities as well as deciphering a mix of jobs data, including the not-so-monthly on-farm payrolls, and a dump of weekly jobless claims. However you decipher…