Market Rally

The Nasdaq fell 0.84% due to tech stock declines, including Apple, Meta, and Oracle. Investors are wary of tech valuations and capital expenditure, particularly for Nvidia, despite strong future order claims. Analysts are closely watching Nvidia’s upcoming earnings call. While some see potential for a year-end rally driven by rate adjustments and macro data, Bitcoin’s weakness is a concern. Other news includes India’s energy deal with the US and Fed officials’ divided views on interest rate cuts.

Anticipation of a U.S.-China trade agreement spurred global market rallies, with major indices reaching record highs. Tech and agriculture sectors are poised for potential boosts. Amazon is reportedly planning significant layoffs, while Tesla’s CEO’s future hinges on shareholder approval of his compensation. Gold retains investor appeal amidst geopolitical uncertainty and as a popular investment in India during Diwali. Trump indicated a China trade deal is within reach and a resolution regarding TikTok might materialize soon.