Nvidia Surges Past $5 Trillion

Fed cuts rates, U.S.–China de-escalate tariffs, and tech strength pushes the Nasdaq to a seventh straight monthly gain. Momentum stays in megacap tech as earnings and policy ease support risk.

TL;DR:

🚀 Nvidia tops $5T market cap
🏦 Fed cuts rates 25 bps
🤝 U.S.–China to reduce tariffs
📈 Nasdaq logs seventh monthly gain

Nvidia Tops $5 Trillion Market Cap

Nvidia’s valuation crossed $5 trillion, up from $4 trillion just three months ago—an unprecedented climb that kept semis in the lead and reinforced AI as the core market narrative. The milestone lifted broader tech sentiment and added fuel to year-end momentum plays. Traders leaned into high-beta names while watching for consolidation near highs. Source

Fed Cuts Rates 25 bps

The Federal Reserve delivered a 25 bp rate cut, with Chair Jay Powell signaling uncertainty on further easing. Lower policy rates supported duration-sensitive assets and kept the soft-landing case intact, but the path remains data-dependent. Keep an eye on core inflation and labor prints to gauge follow-through. Source

U.S.–China To Reduce Tariffs

Presidents Trump and Xi agreed to lower tariffs and delay China’s rare earth export restrictions, easing a key geopolitical overhang. The de-escalation improved risk appetite for cyclicals and exporters and helped steady global futures into month-end. Watch industrials and materials for relative strength on improved trade visibility. Source

Nasdaq Logs Seventh Monthly Gain

The Nasdaq closed October with its seventh straight monthly advance, edging toward record territory. Leadership stayed narrow in megacap tech, while breadth lagged—an important tell for durability. Into November, watch reactions to Apple and Amazon earnings as key drivers of trend continuation. Source

Federal Reserve Cuts Interest Rates 25 Basis Points