Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Trump, Xi Focus on Trade and AI at White House Summit 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
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European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
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U.S. stocks climbed Wednesday, driven by renewed interest in technology shares as the S&P 500 gained 0.4%, the Dow Jones Industrial Average rose 0.5%, and the NASDAQ Composite advanced 0.7%. Investors piled into major tech names following recent pullbacks, even as the Supreme Court began hearings on former President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs.
Advanced Micro Devices (NASDAQ: AMD) helped lead the rebound, cutting early losses to trade more than 2% higher after reporting strong sales and profit growth from its AI chip division. In contrast, Pinterest (NYSE: PINS) plunged after issuing weak revenue guidance, raising concerns about a slowdown in digital advertising. Among other notable movers, McDonald’s (NYSE: MCD) gained on stronger-than-expected U.S. same-store sales, while Novo Nordisk (NYSE: NVO) slipped 1% after trimming its full-year outlook. Humana (NYSE: HUM) dropped sharply following disappointing earnings and a reduced profit forecast due to rising medical costs.
Despite worries about overvalued tech stocks, earnings season has largely impressed — roughly 82% of the 360 S&P 500 companies reporting so far have beaten Wall Street expectations, according to FactSet. Still, analysts warn that the rally driven by the “Magnificent Seven” tech giants could be nearing exhaustion. Sean Peche of Ranmore Fund Management cautioned that “lofty valuations” make strong long-term returns unlikely.
On the economic front, the ADP employment report showed private payrolls rising by 42,000 in October, signaling labor market resilience amid ongoing uncertainty. Meanwhile, as Trump’s tariff powers face scrutiny in the Supreme Court, early reactions suggest skepticism toward executive authority under the IEEPA. A ruling against Trump could force the U.S. to repay roughly $90 billion in tariff revenue — a decision with far-reaching implications for trade and economic policy.
