| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 46,190.61 | 238.37 | 0.52% |
| S&P 500 | 6,664.01 | 34.94 | 0.53% |
| Nasdaq | 22,679.97 | 117.44 | 0.52% |
| VIX | 20.78 | -4.53 | -17.90% |
| Gold | 4,267.80 | 54.5 | 1.29% |
| Oil | 57.64 | 0.1 | 0.17% |
OVERVIEW OF THE US MARKET
Wall Street ended higher on October 17, 2025, buoyed by President Donald Trump’s optimistic comments on US-China trade talks that eased concerns over escalating tensions. The S&P 500 rose 0.53% to close at 6664.01, marking its best week since August, while the Nasdaq Composite gained 0.52% and the Dow Jones Industrial Average advanced 0.52% or 238 points. Regional banks rebounded after a recent rout, with solid earnings helping to restore confidence, though Oracle tumbled on AI demand worries. Nvidia and Intel were among the most active stocks, with Nvidia up 0.78% amid continued AI enthusiasm.
Trump’s remarks suggesting progress in negotiations and a potential meeting with President Xi Jinping helped calm markets rattled by tariff fears. Regional lenders like Zions Bancorp and Western Alliance rallied sharply, up 5.8% and 3.1% respectively, following better-than-expected provisions for loan losses despite fraud-related concerns. American Express beat earnings forecasts, but Novo Nordisk and Eli Lilly slipped after Trump hinted at lower Ozempic prices. Broadcom’s deal with OpenAI provided a lift to tech sentiment.
Consumer staples led sector gains with a 1.23% rise, followed by financials at 0.84%, while materials and utilities lagged, down 0.35% and 0.38%. Equity inflows remained strong at $28.1 billion for the week, per Bank of America data, even as the government shutdown delayed key releases. Applications for unemployment benefits fell to around 215,000, signaling labor market resilience, though non-farm payrolls earlier in the month disappointed at levels below expectations.
Keith Lerner at Truist Advisory Services noted the market’s vulnerability to surprises after an extended rally, viewing pullbacks as buying opportunities. Fed speakers like Alberto Musalem supported potential rate cuts amid economic uncertainty, with markets pricing in a 25-basis-point reduction at the October meeting per Morgan Stanley economists. Looking ahead, the September consumer price index on October 24 is expected to show modest core inflation cooling, potentially bolstering dovish bets.
Strategists at UBS Global Wealth Management upgraded equities to attractive, citing AI momentum and Fed support, urging investors to reallocate from cash or bonds. Charles Schwab’s CEO highlighted retail traders buying dips amid volatility.
OVERVIEW OF THE AUSTRALIAN MARKET
The Australian sharemarket closed lower on October 17, 2025, snapping a record run as global credit concerns and falling oil prices weighed on sentiment. The S&P/ASX 200 fell 0.81% to 8995.3, while the All Ordinaries dropped 0.88% to 9293.2. Financials led declines with a 1.20% slide, echoing US regional bank jitters from fraud-linked losses, and energy tumbled 2.80% as crude hit five-month lows amid US-China tensions and Ukraine peace talks.
Consumer staples bucked the trend, up 0.33%, with utilities and materials edging higher by 0.07%. Gold miners shone amid broader precious metals strength, with Emerald Resources up 4.1% and Vaneck Gold Miners ETF gaining 4.1%. Cufe and Lode Resources surged over 21% on sector momentum and project updates, but uranium and critical minerals stocks like Lotus Resources and Cobalt Blue plunged, down 14.3% and 19.6% amid pullbacks from recent rallies.
Treasury Wine Estates rose 3.7% ahead of its AGM, while QBE Insurance fell 9.3% on broader financial weakness. Weekly gains for the ASX 200 stood at 0.41%, but far from intraweek highs, reflecting risk aversion tied to US banking echoes from 2023.
Employment data showed a softer-than-expected 14.9 thousand rise for September, below the 20 thousand poll, with unemployment at 4.5% versus 4.3% expected, pressuring the RBA’s stance. Composite leading index dipped 0.03%, signaling modest slowdown risks.