AI, interest rate cuts, and tariff relief boost market sentiment; global stock markets rise across the board, LME copper hits a new high, and gold stabilizes.

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Artificial intelligence continues to boost the performance of tech giants. Market expectations for a Fed rate cut tonight are heating up, coupled with positive progress in trade tariff negotiations. Multiple favorable factors are jointly driving optimism, and global stock markets are generally rising.

On October 29, U.S. stock index futures were mixed, with most Asian stock markets up. The U.S. dollar index edged higher, gold rebounded after falling, London copper hit a new high, and cryptocurrencies rose.

The technology sector remains the focus for market participants. On Wednesday and Thursday, Microsoft, Alphabet, Meta, Amazon, and Apple will all announce earnings. According to data compiled by Bloomberg Industry Research, profits for these seven tech giants are expected to grow by 14% in the third quarter. Tonight, the Fed will announce its interest rate decision, and the market is widely betting on a 25 basis point rate cut, adding momentum to this week’s market trend.

U.S. stock index futures were mixed: Nasdaq 100 futures rose over 0.4%, S&P 500 futures rose over 0.2%, Dow Jones futures fell nearly 0.1%.The Nikkei 225 closed up 2.2% at 51,307.65 points. Seoul Composite Index closed up 1.76% at 4,081.15 points.Spot gold rose 1.0% during the day, quoted at $3,993.81/oz.London copper hit a record high, up nearly 1% during the day, as operational issues at major mines heightened supply risks.

U.S. stock index futures were mixed: Nasdaq 100 futures rose over 0.4%, S&P 500 futures rose over 0.2%, Dow Jones futures fell nearly 0.1%. The market is closely watching the earnings data of tech giants and the Fed’s interest rate decision.

Clark Belling from Bellwether Wealth said: “Given the ongoing demand for AI technology and infrastructure, we expect another strong earnings season for large tech companies. Although the profitability of AI remains uncertain, as the AI arms race heats up, investors are currently willing to overlook this.”

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