📢 Flash
Ahead of the Fed’s decision, the AI rally continues: the Philadelphia Semiconductor Index rises 3.6%, and CoreWeave jumps 8%.
On October 28, U.S. equities extended gains for the second consecutive trading day, with technology stocks leading the rally. According to BIT Stock Platform data: the S&P 500 rose 0.60% to 7,722.65; the Nasdaq Composite gained 1.18%, while the Nasdaq-100 advanced 1.29%; the Dow Jones Industrial Average edged up 0.03%; the Philadelphia Semiconductor Index surged 3.60%; and the Russell 2000 rose 1.16%. AI-related stocks posted broad-based strength—among emerging cloud providers, Nebius, CoreWeave, and IREN jumped 11.22%, 7.94%, and 7.90%, respectively; memory and optical communications names also rallied collectively, with Western Digital, Applied Optoelectronics, Coherent, and SanDisk rising 6.95%, 6.96%, 6.45%, and 3.92%, respectively.
A key catalyst behind the AI sector’s rebound was financing progress: Broadcom, together with Bank of America, Citigroup, Morgan Stanley, and Blackstone, formed an institutional consortium to secure a $63 billion financing package—intended to procure Broadcom’s AI accelerators and networking equipment and lease them to Anthropic, with initial deliveries expected to begin in 2027. Meanwhile, Oracle expanded its cloud services partnership with OpenAI, and Meta’s $25 billion equity offering drew five times oversubscription. Goldman Sachs’ tech trading desk noted that the day’s market rebound was driven by three factors: easing financing pressure, improved earnings expectations for tech giants, optimistic capital expenditure signals, and oversold corrections among select stocks that beat earnings estimates.
Market attention now turns to the Federal Reserve’s interest-rate decision and major tech earnings releases: the Fed is set to announce its policy decision on Wednesday (U.S. time), with rates widely expected to remain unchanged at 3.75%–4.00%; however, the probability of a December rate hike remains above 70%. Earnings reports from Microsoft, Alphabet, and Amazon are due shortly.
On the geopolitical front, officials from Saudi Arabia, Turkey, and Pakistan traveled to Tehran for diplomatic talks—sparking heightened market expectations of de-escalation in the Persian Gulf. As a result, WTI crude oil fell roughly 1.8%, slipping below the $100-per-barrel threshold, while Brent crude settled below $114 per barrel. The 10-year U.S. Treasury yield held steady near 4.99%, the U.S. Dollar Index rose 0.35% to 102.319.
A key catalyst behind the AI sector’s rebound was financing progress: Broadcom, together with Bank of America, Citigroup, Morgan Stanley, and Blackstone, formed an institutional consortium to secure a $63 billion financing package—intended to procure Broadcom’s AI accelerators and networking equipment and lease them to Anthropic, with initial deliveries expected to begin in 2027. Meanwhile, Oracle expanded its cloud services partnership with OpenAI, and Meta’s $25 billion equity offering drew five times oversubscription. Goldman Sachs’ tech trading desk noted that the day’s market rebound was driven by three factors: easing financing pressure, improved earnings expectations for tech giants, optimistic capital expenditure signals, and oversold corrections among select stocks that beat earnings estimates.
Market attention now turns to the Federal Reserve’s interest-rate decision and major tech earnings releases: the Fed is set to announce its policy decision on Wednesday (U.S. time), with rates widely expected to remain unchanged at 3.75%–4.00%; however, the probability of a December rate hike remains above 70%. Earnings reports from Microsoft, Alphabet, and Amazon are due shortly.
On the geopolitical front, officials from Saudi Arabia, Turkey, and Pakistan traveled to Tehran for diplomatic talks—sparking heightened market expectations of de-escalation in the Persian Gulf. As a result, WTI crude oil fell roughly 1.8%, slipping below the $100-per-barrel threshold, while Brent crude settled below $114 per barrel. The 10-year U.S. Treasury yield held steady near 4.99%, the U.S. Dollar Index rose 0.35% to 102.319.
