| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 47,632.00 | -74.37 | -0.16% |
| S&P 500 | 6,890.59 | -0.3 | 0.00% |
| Nasdaq | 23,958.47 | 130.98 | 0.55% |
| VIX | 16.92 | 0.5 | 3.05% |
| Gold | 3,962.60 | -38.1 | -0.95% |
| Oil | 60.17 | -0.31 | -0.51% |
OVERVIEW OF THE US MARKET
Wall Street ended mixed on October 29, 2025, as the Federal Reserve cut interest rates by a quarter point but Chair Jerome Powell tempered expectations for further easing, citing divisions within the committee and ongoing data challenges from the government shutdown. The S&P 500 closed little changed at 6890.59 after erasing earlier gains, the Nasdaq Composite rose 0.55% to 23958.47 buoyed by tech strength, and the Dow Jones Industrial Average slipped 0.16% to 47632.00. Nvidia surged nearly 3% to become the first company to hit $5 trillion in market capitalization amid the AI boom, while Alphabet gained in after-hours trading on solid cloud sales. Meta Platforms tumbled in extended trading after forecasting sharply higher 2026 expenses for AI infrastructure.
Other movers included Fiserv plunging on a slashed outlook, Verizon rising despite subscriber losses, and Boeing posting a large accounting charge while delaying its 777X jet. Sector performance was uneven, with information technology and communication services up 1.05% each, but real estate down 2.66% and consumer staples off 2.00%. Actives saw heavy volume in Nvidia, Nokia ADR, and Plug Power. Traders reduced bets on a December Fed cut to about 65% from over 90% earlier, reflecting Powell’s comments that a further reduction is “far from a foregone conclusion” amid differing views on inflation and labor risks. The dollar strengthened, and Bitcoin fell 2%.
Corporate earnings highlighted AI-driven growth, with Alphabet’s cloud unit beating estimates at $15.2 billion in sales and $3.59 billion in profit, while Microsoft disappointed on Azure expansion. Meta projected 2025 capital expenditures of $70-72 billion, up slightly, and warned of notable increases in 2026. Broader sentiment was rattled by Fed dissents—Governor Stephen Miran for a larger cut and Kansas City President Jeff Schmid for none—underscoring uncertainty. Analysts like Neil Dutta noted the challenge in signaling a December move, while Bret Kenwell questioned the Fed’s focus between weakening jobs and sticky inflation. With earnings ongoing and a Trump-Xi meeting looming, pullbacks could present buying opportunities if consumer resilience holds.
OVERVIEW OF THE AUSTRALIAN MARKET
The Australian share market closed lower on October 29, 2025, with the S&P/ASX 200 dropping 0.96% to 8926.2 and the All Ordinaries down 0.83% to 9218.8, hitting a two-week low after hotter-than-expected September quarter inflation data dashed hopes for near-term rate cuts. The CPI rose 1.3% quarterly and 3.2% annually, beating forecasts of 1.1% and 3.0%, while the RBA’s trimmed mean measure climbed 1.0% quarterly to 3.0% annually, overshooting estimates and landing at the top of the 2-3% target band. This “material miss” relative to the RBA’s August forecasts, as noted by experts like Diana Mousina, reinforced a hold at next week’s meeting and eroded chances for easing before 2026, with Westpac’s Luci Ellis highlighting risks of delayed cuts leading to more aggressive moves later amid labor softening.
Interest-sensitive sectors led declines, with financials down 1.87%, industrials off 1.97%, health care falling 2.32% on CSL’s 4.0% drop, and real estate slipping 1.65%. Resources provided some offset, with materials up 1.15% on iron ore and copper strength, and energy gaining 0.52% amid US nuclear investment signals boosting uranium plays—Boss Energy surged 19.8%, Paladin Energy rose 11.3%, and uranium ETFs ATOM and URNM advanced 8.7% and 10.7%. Gold miners rebounded, supporting the XGD sub-index up 2.2%. Consumer staples edged up 0.30% on Woolworths’ rally after solid sales, but discretionary fell 1.10%. Standouts included Resolution Minerals up 28.8% on a gold discovery and Arafura Rare Earths down 20.0% after a discounted placement.
The Aussie dollar strengthened to 0.6603 against the US dollar. Broader sentiment reflects stagflationary concerns—a softening economy with sticky inflation—complicating the RBA’s path, as Kyle Rodda observed. With consumption brightening per internal data but unemployment at 4.5% in September, the board may wait for February’s CPI for clarity, though Westpac warns of potential 2026 surprises from latent labor slack and benign wages. Uranium’s boom ties to global AI and energy security, while China’s COFCO buying 180,000 tons of US soybeans ahead of Trump-Xi talks offers limited relief for farmers amid trade tensions.
