Financial Summary: Wednesday, October 29, 2025

Nvidia becomes the first company to achieve a $5 trillion valuation, underscoring its dominance in the chipmaking industry amid the AI surge.

Apple's new iPhone lineup has driven the company to a $4 trillion valuation, reflecting robust consumer demand.

SK Hynix reports a record 62% profit increase in Q3, fueled by high demand for AI-related memory products.

Amazon opens an $11 billion AI data center in Indiana, enhancing its capabilities in AI model training.

Boeing beats revenue expectations in Q3 but faces a $4.9 billion charge due to delays in the 777X program.

CVS exceeds earnings estimates and raises its guidance, indicating a positive turnaround under new CEO David Joyner.

Adidas shares drop 10% as CEO highlights heavy discounting and cautious ordering from US retailers amid tariff uncertainties.

Meta's shares fall 9% despite beating earnings expectations, impacted by a one-time tax charge affecting investor sentiment.

ServiceNow surpasses earnings estimates and announces a 5-for-1 stock split, indicating strong performance in the tech sector.

Microsoft reports a strong earnings beat with a 40% increase in Azure revenue, leading the cloud market.

Fiserv's stock plummets 44% after the company slashes its guidance, marking its worst trading day ever.

Elon Musk has launched Grokipedia to compete with Wikipedia, raising concerns about its impact on information sharing.

GitHub has unveiled Agent HQ, a new platform leveraging AI agents to enhance software development efficiency.

Nvidia has invested $1 billion for a 2.9% stake in Nokia to collaborate on AI-driven telecom and 6G infrastructure.

Microsoft experienced outages in its Azure and 365 services just before its quarterly earnings report.

Alphabet reports a record quarterly revenue exceeding $100 billion for the first time, raising investor hopes for returns on AI investments.

Meta's shares decline as the company increases its spending on AI, while Microsoft faces disappointing growth in its cloud services.

Reeves emphasizes the importance of improving living standards to support modern democracy.

Airlines are providing rescue fares to help travelers stranded due to an unexpected shutdown.

Federal Reserve Chair Jerome Powell highlights AI as a key factor in economic growth, unlike the dotcom bubble.

Asia-Pacific markets, including Japan's Nikkei, are rising on optimism over AI investments and an anticipated Fed rate cut.

Wall Street closed at record highs, driven by Nvidia's strong performance and a positive outlook for tech earnings.

The US Federal Reserve cut interest rates by 25 basis points for the second time this year to support economic growth.

Shares of major asset management companies fell up to 10% following SEBI's proposed changes to mutual fund fee structures.

Copper prices surged to record highs due to supply fears from production disruptions and tariffs.

Indian equities surged, with the Sensex and Nifty gaining significantly on optimism over a potential U.S.-China trade deal.

Adani Group stocks rallied significantly, adding nearly ₹48,550 crore in market value following strong Q2 earnings reports.

Mortgage rates have dropped to their lowest level in over a year, leading to a significant increase in refinancing demand.

Gold prices rose 0.4%, breaking a three-day losing streak, as market participants reacted to the Fed's monetary policy changes.

A notable fintech stock plummeted 40%, raising concerns among investors about market volatility.

US stocks fell sharply after Fed Chair Jerome Powell indicated that a December rate cut is not guaranteed, raising economic concerns.

The 10-year Treasury yield surged above 4% following the Fed's rate cut announcement, marking its largest one-day gain since July.

The UK is nearing a trade agreement with Gulf states ahead of its Budget announcement.

WeFi's CEO predicts that the next billion cryptocurrency users will emerge from the Global South.

Norway reports a 30% increase in crypto tax reporting, with citizens declaring $4 billion in digital assets.

The U.S. government shutdown, now the second-longest in history, could cost the economy up to $14 billion.

The Dutch parliamentary elections are projected to be won by the liberal D66 party, with the far-right Freedom party in second place.

The Indian government plans to sell a stake in LIC worth $1-1.5 billion by year-end to increase public ownership to 10%.

India achieved its highest-ever credit card spending in September, exceeding ₹2.16 lakh crore, driven by festive spending and tax cuts.

The RBI has repatriated 64 tonnes of gold, raising its total holdings to 274 tonnes amid global economic uncertainties.