
US stocks started the week strong with the Dow Jones jumping 0.6% at the open and closing at a new record high of 47,575 by the end of the trading session 47,575. Nasdaq and S&P500 also gained as the earnings season continues and many companies beat expectations for Q3.
Nasdaq 100 rose almost 2% on Monday and closed at a fresh high of 25,854. S&P500 gained 1.3% and closed at 6,878 by the end of the trading day.
Markets responded positively to easing tensions between the US and China. U.S. President Donald Trump said the United States and China are close to securing a trade deal ahead of his upcoming meeting with Chinese President Xi Jinping, and he suggested a TikTok agreement could be finalized soon.
In early trading today, Stock futures were mostly moving sideways after a strong market rally yesterday. Investors are focused on major catalysts ahead, including Big Tech earnings, a Federal Reserve rate decision, and a possible U.S.–China trade deal.
The Fed begins a two-day meeting today and is expected to cut rates on Wednesday 29 October, with markets watching for signals of another cut in December. Earnings from major tech giants such as Alphabet, Amazon, Apple, Meta, and Microsoft are due mid-week.
In Asia, markets slipped on Tuesday as investors awaited U.S. President Donald Trump’s meeting with Japan’s new Prime Minister Sanae Takaichi. Japan’s Nikkei 225 and Topix both edged lower, with similar declines seen across Australia and South Korea. Hong Kong’s Hang Seng was mostly flat, while mainland China’s CSI 300 managed a modest gain.
Gold was down 2.75% yesterday as the precious metal fell below the $4,000 psychlological level and now trading at $3,981 per ounce. Silver has so far declined nearly 15% from its record high seen two weeks ago. It’s currently trading at $46.20 per ounce.
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