Key Takeaways
- The Trump administration is reportedly considering allowing the sale of Nvidia's (NVDA) H200 chips to China, a move that could significantly alter current export restrictions and impact the global AI chip market.
- Major U.S. stock indices, including the S&P 500 and NASDAQ 100, climbed to session highs on Friday, November 21, 2025, with Nvidia (NVDA) shares also rising by 1.9% after a volatile week.
- Ford Motor Company (F) extended its gains to a session high of 4.3% after reaffirming its full-year 2025 adjusted EBIT guidance of $6 billion to $6.5 billion and adjusted free cash flow outlook of $2 billion to $3 billion.
- Brazil's Vice President Geraldo Alckmin indicated that tariff negotiations with the U.S. are progressing, with an estimated 22% of Brazilian exports still subject to a 40% tariff.
- The Federal Reserve announced an extension of the public comment period for its proposal to enhance stress test model transparency until February 21, 2026.
The financial markets saw a notable rebound on Friday, November 21, 2025, driven by positive developments surrounding U.S.-China trade relations and strong corporate affirmations. The S&P 500 and NASDAQ 100 both climbed to session highs, recovering from earlier volatility in the week. This market upswing was partly fueled by signals from New York Fed President John Williams suggesting potential support for an additional rate cut by the Federal Reserve in December.
A key factor contributing to market optimism was news that the Trump administration is internally floating the idea of permitting the sale of Nvidia's (NVDA) H200 chips to China. This consideration comes amidst ongoing U.S. efforts to restrict China's access to advanced AI hardware, with previous bans impacting Nvidia's H100 and H200 processors. While Nvidia had previously designed the H20 chip to comply with export rules, its sales were later frozen by the Trump administration before clearance was granted for exports to resume under stricter conditions. Reports also suggest discussions about a "toned-down" version of Nvidia's latest Blackwell AI chip for the Chinese market. Despite expressing "disappointment" over current restrictions that have significantly reduced its market share in China, Nvidia (NVDA) shares climbed 1.9% to a session high.
In corporate news, Ford Motor Company (F) saw its shares surge by 4.3% to a session high after reaffirming its 2025 adjusted EBIT guidance in the range of $6 billion to $6.5 billion and its adjusted free cash flow outlook of $2 billion to $3 billion. This reaffirmation provided a boost to investors, especially coming after a fire at a key aluminum supplier, Novelis Oswego.
On the international trade front, Brazil's Vice President Geraldo Alckmin reported progress in tariff negotiations with the United States. While the U.S. recently rolled back tariffs on over 200 Brazilian products, an estimated 22% of Brazil's exports to the U.S. are still subject to a 40% tariff, down from 36% previously. Alckmin expressed the government's commitment to further reduce or eliminate these remaining tariffs.
Finally, the Federal Reserve Board announced an extension until February 21, 2026, for the public comment period on its proposal aimed at improving transparency and accountability in its stress test models and scenarios. This extension was granted following requests from several financial trade associations, citing the comprehensive and technical nature of the proposed changes.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.