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Global equity markets showed mixed movements by midday in New York as investors prepared for a critical week of corporate earnings and central bank decisions. The S&P 500 showed slight changes at 6,895, holding near record highs, while the NASDAQ 100 advanced 0.7%, supported by strength in large technology firms. The Dow Jones Industrial Average rose 0.6%, but the Russell 2000 Index slipped 1,4%, signaling weakness among smaller companies.
In Europe, the Stoxx Europe 600 fell 0.2%, and the MSCI World Index held steady. The Bloomberg Magnificent 7 Total Return Index gained 0.7%, reflecting continued momentum in the leading technology names. Analysts noted that the market’s recent surge left it sensitive to any sign of disappointment in upcoming results, especially from the major tech firms that dominate US benchmarks.
Beyond equities, government bonds remained stable. The yield on 10-year US Treasuries held at 3.98%, while Germany’s and Britain’s 10-year yields were unchanged at 2.62% and 4.39%, respectively. In currencies, the Bloomberg Dollar Spot Index fell 0.2%. The euro rose to $1.1660, and the yen strengthened 0.5% to 152.04 per dollar. Commodity markets softened, with West Texas Intermediate crude dropping 2.4% to $59.84 a barrel and spot gold falling 0.4% to $3,967 an ounce.
Market strategists said positioning in the NASDAQ 100 has risen sharply, reflecting renewed investor appetite for technology exposure. According to Citigroup, traders added about $2.7 billion in new long positions to the S&P 500, while small-cap stocks showed signs of profit-taking.
Analysts at UBS and Goldman Sachs noted that seasonal trends could continue to support equities through the end of the year. Historically, late October and November have been among the strongest periods for US markets.
The rally in the technology sector continued to lift broader sentiment.
Microsoft shares rose 2% after the company finalized a deal with OpenAI, giving it a 27% ownership stake valued at approximately $135 billion.
Apple briefly achieved a $4 trillion market capitalization, reflecting strong investor confidence.
NVIDIA announced a $1 billion equity investment in Nokia, expanding its presence in the communications technology sector.
These developments reinforced investor expectations that artificial intelligence remains a significant growth driver across industries.
Amazon revealed plans to cut 14,000 corporate jobs as part of its restructuring toward AI integration and efficiency.
Intel’s CEO, Lip-Bu Tan, stated that the company will refocus on engineering to address past issues with management and execution.
NXP Semiconductors issued an optimistic forecast, indicating recovery in automotive and industrial chip demand.
Skyworks Solutions agreed to acquire Qorvo in a $10 billion cash-and-stock deal, expected to bolster the US semiconductor supply chain.
Attention now turns to the Federal Reserve’s policy meeting, where officials are expected to approve a quarter-point rate cut. Investors also await earnings from several major technology companies, which together represent nearly a quarter of the S&P 500’s total market capitalization.
Market analysts said optimistic corporate reports, calming trade tensions between the US and China, and a positive seasonal pattern could drive the S&P 500 above the 7,000 level. However, analysts warned that if the leading tech companies fail to meet expectations, it could spark a market correction.
Although there are valuation concerns, analysts remain optimistic that the AI-driven investment cycle sustains the market's positive outlook, helping the bull market enter its fourth year.
Also Read: US Stock Market Today: Global Stocks Rally as US-China Trade Deal Nears and Tech Earnings Surge
