ADDX GO Market Morning Wrap - 21th Oct

Stock Market

On Monday Eastern Time, eased trade tensions and a surge in Apple’s stock pushed the three major U.S. indices up over 1%, nearing record highs again.  

 

(Intraday Chart of Major Indices, Source: TradingView) 

 

At the close, the Dow Jones Industrial Average rose 1.12% to 46,706.58 points, the S&P 500 gained 1.07% to 6,735.13 points, and the Nasdaq climbed 1.37% to 22,990.54 points.  

 

Apple’s stock surged 3.94%, hitting its highest close since December last year, becoming the day’s primary market driver. A report indicated strong sales for the new iPhone.  

 

AMD rose over 3%, hitting an all-time high; Netflix gained over 3%, Intel, Meta, and Micron Technology rose over 2%, Tesla, Google, and Amazon climbed over 1%, Microsoft edged up slightly, while Nvidia dipped slightly.  

 

National Economic Council Director Kevin Hassett said Monday that the 20-day federal government shutdown is “likely to end this week.” He added that he believes “moderate Democrats” will reach a deal this week; if not, the White House is prepared to take tougher measures to force a government reopening.  

 

This week, nearly one-fifth of S&P 500 companies will report earnings, including Netflix and Tesla. Investors hope strong earnings can offset macroeconomic uncertainties.  

 

According to Bank of America, of the 58 S&P 500 companies reporting Q3 results in the first week, 76% beat market expectations, well above the first-week average of 68% and slightly above last quarter’s 73%.  

 

Steel manufacturer Cleveland-Cliffs surged 21% after reporting rising demand and announcing plans to explore rare earth mineral production.

Global Hotspots

White House Economic Advisor: Government Shutdown May End This Week  

 

White House Chief Economic Advisor Kevin Hassett said Monday that the U.S. government shutdown is “very likely to end this week.” However, he warned that if the stalemate persists, the Trump administration may take “tougher measures” to force Democrats to compromise.

 

Bank of Japan Hawkish Member Backs Rate Hikes, Says New Price Norm Has Formed  

 

Bank of Japan Policy Board member Hajime Takata said Monday that now is the right time to raise policy rates. Speaking to business leaders, Takata stated: “I believe now is the best time to raise policy rates. Japan’s long-standing ‘low inflation norm’ has faded, and the price stability target is nearly achieved.”

 

Argentina Central Bank Signs $20 Billion Exchange Rate Stabilization Deal with U.S. Treasury  

 

On October 20, Argentina’s Central Bank announced a $20 billion exchange rate stabilization agreement with the U.S. Treasury. The agreement outlines rules and conditions for bilateral currency swaps, “enhancing the central bank’s foreign exchange reserve liquidity and regulatory functions.”

 

EU Agrees to Update Tax Data Sharing Agreement with Switzerland  

 

The EU Commission revised its tax cooperation agreement with Switzerland to expand digital currency information sharing and establish a cross-border VAT declaration recovery framework. The agreement also updated data protection clauses due to changes in both parties’ data protection systems.

Company News

Apple Stock Hits Record High, Report Cites Strong iPhone 17 Demand  

 

Apple’s stock hit an all-time high on Monday, closing at $262.24, up 3.94%, with a market cap of $3.89 trillion.  

 

With its market cap at $3.89 trillion, Apple became the second-largest U.S. company by market value, surpassing Microsoft but trailing Nvidia.  

 

A Counterpoint report noted strong early sales for the iPhone 17 series in China and the U.S., with sales 14% higher than the iPhone 16 series, and the base iPhone 17 nearly doubling iPhone 16 sales in China.

 

Merck Breaks Ground on $3 Billion U.S. Pharmaceutical Facility  

 

On October 20, Merck announced the start of construction on a $3 billion pharmaceutical facility at its Elkton, Virginia plant. The investment is part of over $70 billion Merck has committed since this year to expand U.S. production and R&D.

 

Archer Aviation Partners with Korean Air to Launch Air Taxis in South Korea  

 

On Monday Eastern Time, U.S. electric vertical takeoff and landing (eVTOL) company Archer Aviation announced a partnership with Korean Air to commercialize air taxis in South Korea, including a potential order for up to 100 eVTOL aircraft.

 

Strategy Buys $18.8 Million in Bitcoin Last Week  

 

On October 20, Bitcoin whale Strategy announced it purchased 168 Bitcoins from October 13 to 19, 2025, for $18.8 million at an average price of $112,051. As of October 19, 2025, Strategy held 640,418 Bitcoins, acquired for ~$47.4 billion at an average price of $74,010.

Forex & Commodities  

WTI crude futures fell 0.03% to $57.52/barrel. Brent crude futures dropped 0.46% to $61.01/barrel.  

 

COMEX gold futures surged 3.82% to $4,374.3/oz; spot gold rose 2.48% to $4,357.36/oz, both hitting intraday record highs. COMEX silver futures gained 2.59% to $51.4/oz.  

 

At the New York close on October 20, the dollar index rose 0.07% to 98.62, with most non-U.S. currencies declining.

Key Events

EU Approves Plan to Phase Out Russian Gas Imports  

 

The EU Council supported a proposal to phase out Russian natural gas imports by January 2028.

 

At a meeting in Luxembourg, EU energy ministers approved the plan, banning new gas import contracts with Russia from January 1, 2026. Existing short-term contracts can continue until June 17, 2026, and long-term contracts until January 1, 2028. The proposal awaits European Parliament approval.

Cryptocurrency  

Bitcoin rose 2.43% in 24 hours to $100,400.  

 

Ethereum (ETH-USD) gained 1.45% to $3,982.02.  

 

XRP (XRP-USD) surged 5.09%, BNB (BNB-USD) rose 0.49%, and Solana (SOL-USD) increased 2.47%.  

 

Dogecoin (DOGE-USD) gained 3.98%, and Cardano (ADA-USD) rose 2.98%.

Key Events  

Strategy’s Bitcoin Purchase Yields 26.0% Return  

 

On October 20, Strategy announced it acquired 168 Bitcoins for ~$18.8 million at $112,051 each. Its year-to-date Bitcoin return in 2025 is 26.0%. As of October 19, 2025, Strategy held 640,418 Bitcoins, purchased for ~$47.4 billion at an average price of $74,010.