🇺🇸 Market Summary – October 24, 2025
American politics and international diplomacy
Trump to discuss trade and geopolitics at next week’s APEC summit with Xi Jinping.
Trump Says Xi Jinping Talks “It’s Going to Go Well”
White House: Trump to meet with new Japanese prime minister Tuesday, South Korean president Wednesday and Xi Jinping Thursday.
White House: Bilateral meeting with Malaysian president.
U.S. launches investigation into China’s implementation of 2020 trade agreement – NYT.
U.S. Flights B-1 Bomber Near Venezuela – WSJ.
TRUMP: Venezuela report inaccurate, “China using Venezuela for fentanyl smuggling”
Trump: “You’ll see ground action in Venezuela”
White House: Summit with Putin not completely ruled out.
Putin: “Talks need to be prepared…Budapest is proposed as the venue.”
Putin: “Russia wants dialogue to continue, sanctions will not affect Russia’s economy”
Putin: “Deep attacks in Russia are escalations, response will be serious”
Ukraine targets full $300 billion transfer of Russia’s frozen assets.
EU leaders postpone decision to use Russian assets until December.
EU to keep assets frozen before Russia war ends and reparations.
EU pledges financial aid, including military support for Ukraine for two years.
Fed and U.S. economy
U.S. money market fund assets at $7.398T, all-time high – ICI.
U.S. 5-year TIPS bid yield of 1.182% and bid rate of 53.5%.
U.S. four-week Treasury bond rate of 3.945%, winning bid rate of 2.73 times.
30-year fixed mortgage rate at 6.19% – lowest in a year – Freddie Mac.
15-year fixed mortgage rate of 5.44%.
U.S. Inflation Expectations Hold, Tech Leads Higher A Day Ahead Of CPI Announcement.
U.S. stocks
Intel Q3 Revenue $13.65B (+2.8% Y/Y), EPS of $0.23, above estimates (0.01) and 4Q guidance of $12.8B to $13.8B.
Ford Q3 EPS of $0.45 (estimated $0.36), revenue of $17.4B, and FY EBITDA of $6B-$6.5B.
Target Cuts 1,800 Job Due To Big Restructuring In A Decade – CNBC.
Goldman Sachs seeks to acquire sports agency Excel Sports ($1B size).
Apple loses App Store exclusive lawsuit in UK (£1.5B claim for damages).
GSK Blendep Approves FDA For Treatment Of Multiple Myeloma.
Amazon Launches AI Shopping Recommendation Reason Explanation Feature.
Microsoft unveils 12 new features, including the addition of a ‘Mico’ character to Copilot.
Appride Materials cuts staff by 4% ($160M–$180M).
Anthropic Signs Agreement With Google Cloud To Use Up To 1 Million TPU.
Target Says CEO Is Trying To Resolve Complexity With Restructuring.
Nasdaq +0.89% (22,943.59), S&P 500 +0.60% (6,739.27), Dow +0.28% (46,719.67) closed.
Raw materials and energy
U.S. WTI oil price $61.79/barrel (+5.62%) and Brent crude oil $65.99/barrel (+5.43%).
Alaska Coast Oil and Gas Mining Resumes in U.S. – Interior Department.
Gasoline futures $1.9269/gallon, diesel $2.4030/gallon, natural gas $3.3440/MMBTU.
Putin: “A sharp drop in Russian oil will inevitably cause oil prices to soar”
Putin: “Russia, Saudi, greater contribution to energy market than US”
cryptocurrency
Trump Announces Pardon Of Binance Changfeng Zhao (CZ) — Former BitMex, Pro-Crypto Move Following Silk Road Personnel.
CZ “Deeply grateful for amnesty, will make US crypto capital”
TRUMP “CZ was innocent and persecuted by Biden administration”
Binance BNB Token Jumps 8%.
Coinbase CEO “Cryptocurrency Legislative Momentum Highest Ever, 90% Complete Stage”
CZ Agrees With Peter Schiff On Bitcoin vs Gold Open Debate.
international politics and trade
U.S., China launch investigation into implementation of 2020 trade agreement – NYT.
U.S. Treasury Secretary Bessent to discuss trade with China’s Deputy Prime Minister Heifeng.
White House: Besent to travel to Malaysia, Japan and South Korea.
Canadian Prime Minister Mark Carney hopes to meet with China’s Xi Jinping next week.
Macron, “EU should consider the strongest means of trade for China”
German Chancellor Merz announces the holding of a special EU competitiveness summit on February 12.
Belgian PM: “I don’t want to return a euro of Russian funds.”
EU Promises Continuing Financial Assistance to Ukraine 2026-2027.
Other news
NVIDIA Announces Cooperation with Uber in Autonomous Driving Development.
Trump, “Got a call from NVIDIA Jensen Huang regarding San Francisco”
San Francisco Mayor announces Trump’s withdrawal from federal deployment.
Regitti Computing in bilateral funding discussions with U.S. government.
The U.S. is considering expanding its budget to strengthen its competitiveness in quantum computing.
‘US is not discussing equity investment in bilateral companies’ – Yahoo Finance.
Reddit co-founder O’Hanion “Most of the internet is already dead.”
Henriken CEO “Deteriorates Profitability Due to U.S. Tariffs, Reviewing Some More European Factories Closure”
BAKER HUGES, Q3 Revenue of $7.01B·EPS of $0.68 above expectations.
JPMORGAN: Net selling of 3 out of 4 institutional investors, net outflow of shares of $800M.
U.S. Smart Money Continues Net Sale Of 3 Out Of 4 Stocks.