FEAR & GREED | Business News Afternoon Report | ASX soars after Nvidia results
Nov 20, 2025
Markets surged after Nvidia's impressive results, igniting gains in tech, materials, and banks. Turkey snagged hosting rights for COP31, outbidding Australia. The RBA expressed surprise at the housing market's quick rebound following rate cuts. In Darwin, preparations ramp up for Cyclone Fina as it strengthens, raising concerns about damaging winds and flooding. Additionally, major developments loom with the impending release of Epstein files, mandated by a new law.
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Nvidia Sparks Broad Market Rally
- Nvidia's blockbuster results drove a strong rally, lifting the ASX 200 by 1.2% as tech and materials led gains.
- Major miners and banks also rose, showing the Nvidia effect rippled through local markets.
Turkey Wins COP31 Hosting Rights
- Turkey won hosting rights for COP31 by positioning itself as a bridge between developed and emerging economies.
- Australia had campaigned strongly with Pacific partners but lost out despite a $7 million promotion push.
RBA Surprised By Housing Bounce
- The RBA admitted it underestimated how fast Australians returned to the housing market after rate cuts.
- House prices rose nine consecutive months and the board faces uncertainty over future rate moves after inflation surprises.