Market Rally Amid Earnings Strength and Trade Optimism
U.S. equities closed a turbulent week on a strong note, buoyed by robust corporate earnings and easing U.S.-China trade tensions. The Dow Jones Industrial Average ROSE 1.56%, while the S&P 500 and Nasdaq-100 gained 1.70% and 2.46% respectively. October's historical volatility manifested again, with early-week AI sector deals and dovish Fed commentary fueling momentum.
Tech stocks led the charge as strategic AI investments and cloud infrastructure contracts lifted sentiment. Banking giants outperformed expectations, further supporting the rally. Federal Reserve Chair Jerome Powell's remarks reinforced market expectations for a dovish policy pivot, though his truncated statement left traders parsing for clues.