Market Snapshot October 29th 2025

Data

– Global equities reached record highs, with the S&P 500 (+0.87%), Dow Jones (+0.62%), and Nasdaq (+1.21%) all closing at new peaks, fueled by strong corporate earnings and optimism ahead of the Federal Reserve’s rate decision.

– Apple Inc. briefly touched a US$ 4 trillion market capitalization — becoming only the third global company to achieve the mark — driven by robust iPhone 16 Pro demand in Asia.

– NVIDIA Corp. also surged, closing above a US$ 4 trillion valuation after gaining roughly +50 % YTD, adding nearly US$ 230 billion in market cap during Monday’s session alone.

– Gold prices declined to around US$ 3,964 / oz, marking a three-week low as traders rotated out of safe-haven assets amid easing geopolitical risk and firming risk sentiment.

– Oil markets firmed: Brent crude climbed +1.6 % to US$ 67.02 / bbl, while WTI advanced +1.4 % to US$ 62.80 / bbl, supported by optimism over a U.S.–China trade framework and sustained supply restrictions from OPEC+.

– U.S.–China trade negotiations progressed with both sides agreeing to a “framework deal” that could avert the planned 100 % U.S. tariffs on Chinese goods; discussions now center on rare-earths, semiconductors, and agricultural trade.

– ASEAN and China signed the upgraded “ASEAN–China FTA 3.0”, deepening cooperation in digital trade, green technology, and pharmaceuticals — viewed as a counterbalance to Western trade blocs.

– Donald Trump arrived in South Korea for high-level meetings with Chinese officials amid renewed North Korean missile tensions, adding short-term volatility to regional markets.

– Microsoft and OpenAI reached a new governance and funding agreement allowing OpenAI to restructure and raise capital more freely, reinforcing Microsoft’s ~ 27 % ownership stake.

– U.S. market concentration debate: Analysts noted that the dominance of Big Tech, while elevated, is less extreme than perceived, as capital inflows broaden into semiconductors, renewables, and industrial AI applications.

 

Companies.

+) Global equities extended their record-breaking rally as technology stocks and AI optimism propelled the S&P 500 and Nasdaq to new all-time highs.

+) The S&P 500 gained +0.8%, the Nasdaq Composite added +1.2%, and the Dow Jones Industrial Average rose +0.5%, marking the fourth consecutive session of record closes.

+) Mega-cap tech names — Apple, Microsoft, Nvidia, and Alphabet — led gains as investors anticipated strong Q3 earnings and signs of AI-driven revenue acceleration.

+) Derivative markets showed heavy activity, with elevated open interest in Nasdaq futures and short-dated options ahead of major tech reports and the upcoming Fed decision.

+) The FTSE 100 reached a fresh record of 9,677.87 points, supported by HSBC’s +3.1% surge after raising its income outlook and announcing a share-buyback.

+) The U.S. 10-year Treasury yield stabilized near 3.98%, while the Dollar Index weakened to 98.1 as traders positioned for a potential rate cut before year-end.

+) Gold dipped below US$ 3,980/oz, while Brent crude consolidated near US$ 65.5/bbl as sanctions-driven supply risk balanced weak demand data.

+) Asia-Pacific markets traded mixed: Japan’s Nikkei 225 -0.2%, Hong Kong’s Hang Seng +0.28%, and China’s CSI 300 gained modestly after Beijing reaffirmed 2025 GDP targets.

+) Corporate bond spreads tightened slightly, while global issuance remained firm — reflecting broad-based investor risk-on sentiment.

+) Investor focus is now centered on “Mega Cap Earnings Week”, with Microsoft, Alphabet, and Visa releasing results after the close.

 

Company Highlights Key Metrics / Notes
Microsoft Corporation (MSFT) Beat across the board, driven by strong Azure and AI cloud revenue; announced new $50 bn buyback plan. EPS: US$ 3.78 (vs est 3.68). Revenue: US$ 76.4 bn (+16% YoY). Azure growth: +30%. Cloud segment margin: +120 bps.
Alphabet Inc. (GOOGL) Missed slightly on cloud profitability but beat on ad revenue; management highlighted sustained AI adoption. EPS: US$ 1.85 (vs 1.88 est). Revenue: US$ 90.8 bn (+11%). YouTube Ads: +16%. Google Cloud: +19%.
Visa Inc. (V) Reported record quarterly payment volume and raised FY 2025 EPS outlook; cross-border spending surged. EPS: US$ 2.74 (vs 2.71 est). Revenue: US$ 10.7 bn (+10%). Cross-border vol.: +13%.
HSBC Holdings (HSBA.L) Lifted FY income outlook and announced £2 bn buyback amid strong net-interest income and cost control. Profit before tax: US$ 6.1 bn (+28% YoY). Net-interest income: +14%. RoTE: 15.2%.
General Electric Co. (GE) Exceeded estimates on robust aerospace orders; raised FY guidance amid record commercial backlog. EPS: US$ 1.05 (vs 0.88 est). Revenue: US$ 17.2 bn (+7%). FY EPS guide: US$ 4.10–4.20 (from 3.90–4.00).

 

General

Global equities consolidate near record highs ahead of key Fed decision
 Global stock markets traded mixed but held close to record territory as investors awaited this week’s Federal Reserve policy meeting. The S&P 500 and Nasdaq 100 paused after recent gains, while European equities edged higher on optimism surrounding a possible U.S.–China trade framework. Asian markets were broadly positive, led by the Nikkei 225 and Hang Seng, though profit-taking limited upside momentum.

Gold dips as risk sentiment improves and dollar holds firm
 Spot gold slipped to around USD 3,970/oz, its lowest in three weeks, as easing trade tensions and a stronger U.S. dollar reduced safe-haven demand. Market participants expect volatility to remain subdued until the Fed delivers its rate decision, with traders pricing in a 25 bps cut but watching for signals on the timing of quantitative easing resumption.

Oil steady as investors weigh OPEC+ output signals and demand outlook
 Oil prices were little changed, with Brent crude hovering near USD 62 per barrel. Investors remained cautious ahead of the next OPEC+ meeting, where discussions on potential December output adjustments are underway. The market also monitored the impact of U.S. sanctions on Russian firms and signs of slowing Chinese refinery demand.

Global investment focus remains U.S.-centric amid rising fiscal risks
 At the Future Investment Initiative (FII) summit in Riyadh, global asset managers reaffirmed their overweight positions in U.S. markets, citing structural economic resilience despite high debt levels. Delegates from BlackRock, JPMorgan, and Goldman Sachs emphasized that AI-driven innovation and productivity gains continue to attract long-term inflows to dollar-based assets.

FX markets stabilize as traders position for Fed guidance
 The U.S. Dollar Index (DXY) held steady near 98.9, supported by pre-Fed positioning and expectations of continued rate differentials favoring the dollar. The yen weakened modestly to 150.1 per USD, while the euro traded near 1.1720, constrained by mixed Eurozone data. Emerging-market currencies remained range-bound amid subdued risk volatility.

Tech optimism drives sentiment but valuation risks rise
 Investor attention stayed on the technology sector, where several megacaps—Microsoft, Alphabet, and Meta Platforms—are set to report earnings this week. Analysts noted that expectations for AI and semiconductor profits remain elevated, but market valuations are nearing overbought territory. The Philadelphia Semiconductor Index (SOX) touched a record high, reflecting confidence in future capex expansion.

Geopolitical tensions linger as U.S.–China officials prepare for APEC meeting
 U.S. and Chinese trade envoys continued technical discussions ahead of the APEC Leaders’ Summit in South Korea, where Presidents Trump and Xi Jinping are expected to finalize elements of a trade agreement. Although officials described progress as “constructive,” both sides remain divided on enforcement mechanisms and tech-transfer provisions.

 

Upcoming News

All eyes are on the Federal Reserve today as it concludes its two-day policy meeting — one of the most consequential events of the month. Markets are widely expecting a 25-basis-point rate cut, the first since 2024, aimed at cushioning growth amid subdued inflation and data disruptions caused by the ongoing U.S. government shutdown. With much of the recent economic data frozen or delayed, Chair Jerome Powell’s tone in the post-meeting press conference will be the key driver for sentiment, offering critical clues on whether the easing cycle may extend into early 2026. A dovish statement could trigger a broad risk-on reaction, pressuring the U.S. dollar and supporting equities and emerging-market currencies.

In Canada, the Bank of Canada (BoC) will also deliver its rate decision later today, with markets leaning toward a similar quarter-point cut. Should both the Fed and BoC strike a softer tone, the move could mark the first synchronized easing step among major central banks since the pandemic era, further shaping global yield expectations.

Across Asia, focus shifts to the Bank of Japan (BoJ), which begins its two-day meeting amid renewed speculation over potential tweaks to its yield-curve-control policy. Meanwhile, Australia’s Q3 CPI released earlier in the day showed inflation holding above 3%, reinforcing the challenge facing regional policymakers trying to balance growth support with price stability.

 

G7 – Index (NQ + ES + DJ) – Gold – (BTC + ETH)

G7 FX

The U.S. Dollar Index (DXY) slipped to 98.45, marking its weakest level in two weeks, as investor optimism over renewed U.S.–China trade dialogue and softer inflation expectations encouraged risk-taking.

Analysis:
 FX markets were broadly risk-positive. The dollar softened as safe-haven demand faded, while commodity-linked and European currencies gained on improved trade prospects. The yen’s limited rise suggests capital inflows into Japanese equities are offsetting traditional safe-haven dynamics. The overall bias remains mildly bearish for the dollar if global optimism holds.

 

Metals

Metals diverged sharply as capital rotated into equities and energy.

Analysis:
 Gold’s correction reflected profit-taking and a shift in investor preference toward risk assets. With U.S.–China trade optimism dominating, precious metals lost their safe-haven appeal. Industrial metals outperformed on renewed demand optimism, with copper leading gains — signaling investors’ return to growth-sensitive sectors.

 

Global Equities (NQ / S&P 500 / DJ / JPN 225 / UK 100)

Global stocks extended their rally, driven by U.S.–China trade thaw hopes and dovish central-bank expectations.

Analysis:
 Global equities rallied across all regions, reflecting synchronized optimism over trade détente and dovish monetary signals. Japan’s market led gains with historic highs, while U.S. indices benefited from earnings strength and easing inflation expectations. Europe followed on commodity strength. The challenge ahead lies in sustaining momentum without overheating valuations.

 

Crypto Markets

Digital assets mirrored the broader risk-on environment, with major coins rebounding strongly.

Analysis:
 Crypto traded firmly higher as risk appetite improved and dollar softness drove speculative inflows. Bitcoin reclaimed the $114K level amid renewed ETF accumulation, while Ethereum outperformed on rising DeFi activity. Market sentiment remains bullish in the short term, though upside could stall if macro volatility resurfaces.

 

This report is provided to The Concept Trading from Van Hung Nguyen

Tagged , ,
Promotion Popup
Ends in:
0d 0h 0m 0s