New Delhi, Dec. 2 -- It's a less than merry start to December on Wall Street, with all red and no green. Yet there is still plenty of optimism about 2026 for stocks as a whole and the recently rocky tech trade.

After a stellar Thanksgiving week for stocks, investors are feeling cautious again at the start of the last month of the year. The worries about the artificial-intelligence trade that dogged the market for much of November-concern over the vast capital spending involved, plus increased competition-are back, if they ever really went away.

Monday's announcement of an expanded partnership between Nvidia and Synopsis, for example, helped those stocks at the expense of Broadcom, the design partner for Alphabet's Tensor Processing Unit...