The S&P 500 surged 1.07% to close near the all-time high, optimism is growing after President Trump’s comments that “high tariffs on China are unsustainable,” with in-person talks slated for late October ahead of the APEC summit (Oct 31–Nov 1). This has eased fears from earlier escalations, supporting a rebound in tech and export-heavy stocks like Apple. However, watch for rhetoric on rare earths, soybeans, and fentanyl—key sticking points. Also boosting sentiment is the earnings season. Today is a blockbuster day for reports, with results from over 20 major companies expected to set the tone for the week. Focus on consumer spending, tech resilience, and industrial health amid the ongoing government shutdown (now in its third week). Key names include Netflix (NFLX), Texas Instruments (TXN), Philip Morris (PM), Coca-Cola (KO).
Despite US markets trading near all-time highs, gold and Bitcoin are sending a warning. Bitcoin is still correcting which is not the norm when the S&P rallies. This divergence is an indication that investors are moving to safer assets like gold, they are likely to sell stocks too.