Global mega-caps rise led by tech giants as inflation declines

November saw a spike in the market capitalizations of global mega-cap businesses, primarily technology giants, as a result of falling U.S. rates and mounting expectations of possible rate cuts by central banks across the world as concerns about inflation subsided.

Over the previous month, Apple's market worth increased by 11.2% to $2.95 trillion, while Microsoft's market cap increased by 12.1% to $2.8 trillion.

Following its report of a 206% year-over-year sales gain to $18.1 billion in the third quarter, Nvidia Corp.'s market worth jumped 14.7% to $1.15 trillion. The company also predicted better-than-expected revenue for the fourth quarter of its fiscal year, pointing to stronger demand for its AI processors and better supply chain circumstances.

Reducing inflation worries also significantly increased the value of bank stocks. By the end of November, JPMorgan's market capitalization had increased by 12.2% to $451 billion.

Outside of this area, Tesla's market valuation increased by about 20% to $763.2 billion last month as a result of a price increase for its Model 3 and Y cars in China. According to market research firm Rho Motion, China saw a spike in sales of electric vehicles in October despite the removal of incentives.

On the other hand, a decrease in oil prices caused the market capitalizations of significant oil companies to fall. The market caps of Exxon Mobil and Saudi Arabian Oil. decreased by 2.9% and 0.3%, respectively.

(Sources: investing.com, reuters.com)