S&P 500, Nasdaq futures rise as Dow stalls with Fed decision, Big Tech earnings on deck
October 29, 2025
Breaking News
Image source: Unsplash
US stocks traded mostly higher on Wednesday after another record-setting session on Wall Street as investors braced for the Federal Reserve’s policy decision to help set odds for future interest-rate cuts. S&P 500 futures rose 0.3%, while those on the tech-heavy Nasdaq 100 gained roughly 0.6%.
Meanwhile, Dow Jones Industrial Average futures were little changed following a strong session that lifted stocks to fresh all-time highs. Markets are in wait-and-see mode ahead of Wednesday’s Fed decision. The central bank is widely expected to deliver a quarter-point rate cut, its first since July, as investors watch closely for any hints from Chair Jerome Powell about the pace of additional easing.
Big Tech moves continue to grip markets this week. Nvidia's stock rose in premarket after closing at a record high as investors welcomed a flood of product updates, partnerships and other news from its GTC event.
The chipmaker is on the cusp of becoming the first company to cross $5 trillion in market value. The countdown is now on for earnings from "Magnificent Seven" tech megacaps, led out after the bell on Wednesday by reports from Alphabet, Meta Platforms, and Microsoft.
Quarterly results from Apple and Amazon follow on Thursday. Yahoo Finance reports.
EdgeUp
👁️ Altman touts trillion-dollar AI vision as OpenAI restructures to chase scale
Soon after ChatGPT was released to the public in late 2022, OpenAI CEO Sam Altman told employees they were on the cusp of a new technological revolution.
OpenAI could soon become "the most important company in the history of Silicon Valley," Altman said, according to two former OpenAI employees who heard his remarks.
There is no shortage of ambition in the U.S. tech industry. Meta boss Mark Zuckerberg and Amazon founder Jeff Bezos often speak of transforming the world. Tesla head Elon Musk aims to colonize Mars. Reuters reports.
🍎 Apple poised for iPhone sales boost on strong Pro demand
Apple's quarterly results on Thursday are expected to show the company can spark a strong iPhone upgrade cycle even without the flashy artificial intelligence tools it has been slow to release, a delay that has dulled its appeal on Wall Street.
The consumer tech giant's new iPhone 17 lineup that launched on September 19 has drawn strong early demand in crucial markets, including the US and China, as a sharper display, larger storage options and an upgraded processor attract buyers.
While the July – September period captured only a few days of the new iPhone sales, the trend bodes well for the holiday quarter – Apple's most lucrative as many consumers upgrade their devices then.
Apple shares clocked their best quarterly gain in more than two years in the July-September period, rising 24%. Yahoo Finance reports.
🚜 Caterpillar third-quarter profit drops on weak US construction activity, tariffs
Caterpillar reported a lower third-quarter profit on Wednesday, hit by weak construction activity in the US and tariffs imposed by the Trump administration.
The company, seen as a bellwether for the global industrial economy, reported an adjusted per share profit of $4.95, down from $5.17 a year earlier.
Its shares rose about 4.7% in premarket trading. Reuters reports.
📲 Meta’s earnings are on deck. These are the four biggest numbers to watch.
Meta Platforms Inc. has carved out a unique spot for itself in the world of artificial intelligence, leveraging the technology to drive improvements to its advertising business while spending heavily on things like AI talent and the creation of large-language models.
When Meta reports earnings on Wednesday, investors should focus on its capital-spending forecast, ad revenue, engagement trends and holiday-quarter expectations. MarketWatch reports.
🔡 Alphabet’s stock performance hinges on the answers to these 3 big AI questions
Alphabet Inc. has established itself as a formidable front-runner in the artificial-intelligence race. The company’s third-quarter earnings report on Wednesday will provide a status update on its position.
Shares of Alphabet have surged around 50% since the beginning of July. The stock’s 42% gain year to date puts Google neck-to-neck with Nvidia Corp. in terms of 2025 performance. MarketWatch reports.
💊 Eli Lilly Collaborates With Nvidia to Develop AI Supercomputer
Eli Lilly said late Tuesday that it collaborated with Nvidia to develop an artificial intelligence supercomputer.
The supercomputer will be the "most powerful" owned and operated by a pharmaceutical firm, the company said, adding that it will be equipped with Nvidia's DGX SuperPOD with DGX B300 systems.
Eli Lilly said it intends to utilize the supercomputer to reduce development cycles and deliver medicines faster.
Shares of Eli Lilly edged 0.2% higher in recent Wednesday premarket activity, while Nvidia's stock was up 3.1%. MarketScreener reports.
🤖 Microsoft Q3 2025 earnings preview
Microsoft Corporation is scheduled to report its fiscal year 2026 first-quarter earnings on Wednesday, October 29, after the market closes.
Analysts widely expect Microsoft to beat profit forecasts, extending its winning streak, primarily driven by strong demand for its cloud services and AI development tools.
The main focus for investors is the Intelligent Cloud segment, particularly the Azure platform, and the company's massive investments (CapEx) in new infrastructure to maintain its AI leadership.
Although the stock has outperformed the market this year, rising 23%, its recent climb has slowed due to investor concern over the accelerating capital expenditure required for AI. MarketPulse reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.
1) LINK: Interlink Electronics
Total gain: +24.73%
2) TER: Teradyne
Total gain: +21.09%
3) BE: Bloom Energy
Total gain: +16.61%
4) ZEUS: Olympic Steel
Total gain: +16.18%
5) WKEY: WISeKey Intl Holding
Total gain: +14.19%
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on October 28.
Stock Analysis reports.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1) MCTA: Charming Medical Limited
Total gain: +46.95%
The company announced, in connection with its previously announced initial public offering (the "Offering") of 1,600,000 Class A ordinary shares, par value $0.0001 per share (the "Class A Ordinary Shares") at a price of $4.00 per share (the "Public Offering Price"), Cathay Securities, Inc., the representative of the underwriters (the "Representative") of the Offering, has exercised its over-allotment option (the "Over-allotment") in full to purchase an additional 240,000 Class A Ordinary Shares at the Public Offering Price, and the closing of such issuance. PR Newswire reports.
2) WETH: Wetouch Technology Inc.
Total gain: +28.81%
The stock appeared to be moving on no notable news.
3) IPW: iPower Inc.
Total gain: +28.59%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
GSK: GSK
Q3 2025
Before Market Open
Estimate: 1.260
Actual: 1.484
UBS: UBS Gr
Q3 2025
Before Market Open
Estimate: 0.550
Actual: 0.760
EQNR: Equinor
Q3 2025
Before Market Open
Estimate: 0.570
Actual: 0.370
Today’s Economic Dates
Time (ET)/ Report/ Period
8:30 AM - *Advanced U.S. trade balance in goods - Sept.
8:30 AM - *Advanced retail inventories - Sept.
8:30 AM - *Advanced wholesale inventories - Sept.
Parting Thoughts
“The stock market is filled with individuals who know the price of everything, but the value of nothing.”
– Philip Fisher
Sourced in: Inspirational Trading Quotes Every Investor Should Remember
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