With the triple positive sentiment of AI, interest rate cuts, and tariffs, global stock markets rose broadly, London copper hit a new high, and gold stabilized
U.S. stock index futures showed mixed results, with the Nasdaq 100 futures rising over 0.4%, the S&P 500 futures up over 0.2%, and the Dow Jones futures down nearly 0.1%. Operational issues at major mines have exacerbated supply risks, leading to a new high for London copper. Gold has rebounded, with spot gold increasing by 1.0% during the day, reported at $3,993.81 per ounce. The U.S. dollar index has rebounded, and the market is closely watching the earnings reports of tech giants and the Federal Reserve's interest rate decision to be announced early this morning
Artificial intelligence continues to boost the performance of tech giants, and market expectations for a rate cut by the Federal Reserve tonight are heating up. Coupled with positive progress in trade tariff negotiations, multiple favorable factors are driving optimistic sentiment, leading to a general rise in global stock markets.
On October 29, U.S. stock index futures showed mixed results, with most Asian stock markets rising. The U.S. dollar index edged higher, gold rebounded from its decline, London copper reached a new high, and cryptocurrencies rose.
The tech sector remains the focus of market participants. On Wednesday and Thursday, Microsoft, Alphabet, Meta, Amazon, and Apple will all announce their earnings. According to data compiled by Bloomberg Industry Research, these seven giants are expected to see a 14% increase in profits for the third quarter. The Federal Reserve will announce its interest rate decision tonight, with the market generally betting on a 25 basis point rate cut, adding momentum to this week's market trends.
U.S. stock index futures showed mixed results, with the Nasdaq 100 futures up over 0.4%, S&P 500 futures up over 0.2%, and Dow Jones futures down nearly 0.1%.
The Nikkei 225 index closed up 2.2%, at 51,307.65 points. The Seoul Composite Index closed up 1.76%, at 4,081.15 points.
Spot gold rose by 1.0% during the day, priced at $3,993.81 per ounce.
London copper hit a record high, rising nearly 1% during the day, as operational issues at major mines exacerbated supply risks.
U.S. stock index futures showed mixed results, with the Nasdaq 100 futures up over 0.4%, S&P 500 futures up over 0.2%, and Dow Jones futures down nearly 0.1%. The market is closely watching the earnings data of U.S. tech giants and the Federal Reserve's interest rate decision.
Clark Belling of Bellwether Wealth stated, "Given the ongoing demand for AI technology and infrastructure, we expect large tech companies to experience another round of strong earnings reports. Although the profitability of AI remains an unknown, investors are currently willing to overlook this as the AI arms race heats up."
