ADDX GO Market Morning Wrap - 22nd Oct

Stock Market

On Tuesday Eastern Time, the three major U.S. indices had mixed results. Boosted by strong performances from Coca-Cola and 3M, the Dow hit a record high, the S&P 500 closed flat, and the Nasdaq dipped slightly.  

 

(Intraday Chart of Major Indices, Source: TradingView)  

 

At the close, the Dow Jones Industrial Average rose 0.47% to 46,924.74 points; the S&P 500 was flat at 6,735.35 points; and the Nasdaq fell 0.16% to 22,953.67 points.  

 

Large-cap tech stocks were mixed: Nvidia fell 0.81%, Apple rose 0.20%, Microsoft gained 0.17%, Google dropped 2.37%, Amazon climbed 2.56%, Meta edged up 0.15%, and Tesla fell 1.08%.  

 

Gold saw a 5.7% intraday plunge, marking its largest single-day drop since 2013, just a day after hitting a record closing high. Silver prices also fell sharply, with an intraday drop of up to 8.7%, the largest since 2021.  

 

Coca-Cola and 3M, both Dow components, rose 4.1% and 7.7%, respectively, after beating Wall Street expectations, supporting the Dow’s gains.  

 

Another traditional industry stock, General Motors, soared 14.9% after raising its full-year guidance and exceeding market expectations.  

 

A solid start to the Q3 earnings season boosted investor sentiment, pushing U.S. stocks close to record highs again.  

 

According to FactSet, as of last Friday, 86% of companies beat profit expectations. This week, about one-fifth of S&P 500 companies will report earnings.  

 

Louis Navellier, founder and CIO of Navellier & Associates, said: “Large multinational companies are posting better-than-expected results, a good sign. This means Q3 earnings season is off to a strong start, and we could see a robust year-end rally.”

Global Hotspots

Zelenskyy: Ukraine Is Ready to End Russia-Ukraine Conflict  

 

On Monday evening local time, Ukrainian President Zelenskyy said Ukraine has completed preparations for upcoming meetings with European partners and will sign a new defense capability agreement this week.  

 

Zelenskyy noted that the agreement will effectively be part of Ukraine’s long-term security guarantees, providing lasting protection for the nation and its people.  

 

He emphasized alignment with partner countries on diplomatic issues and reiterated that Ukraine is ready to end the conflict with Russia. During talks with U.S. President Trump, both agreed to pursue negotiations based on the current front line.

 

Trump Says No Decision Made on Meeting with Putin  

 

On Monday, President Trump said he has not decided on a meeting with Putin but believes there’s a chance for a ceasefire between Ukraine and Russia.

 

Trump Directs Agriculture Department to Release $3 Billion to Address Farmers’ Funding Needs  

 

The Trump administration plans to distribute over $3 billion in aid to U.S. farmers, previously frozen due to the government shutdown, to help the agricultural sector cope with adverse tariff impacts.

 

Trump Administration Plans to Replenish 1 Million Barrels of Strategic Petroleum Reserve Amid Low Oil Prices  

 

According to a U.S. Energy Department official, the Trump administration plans to purchase 1 million barrels of crude oil for the Strategic Petroleum Reserve (SPR), capitalizing on low oil prices to replenish depleted stocks. The department will announce on Tuesday the purchase for delivery in December and January, funded by $171 million allocated for crude purchases in Trump’s tax and spending bill.

 

European Leaders Issue Joint Statement Supporting Russia-Ukraine Ceasefire Talks  

 

On Monday, per the UK Prime Minister’s Office, Ukrainian President Zelenskyy, UK Prime Minister Starmer, German Chancellor Merz, French President Macron, Italian Prime Minister Meloni, Polish Prime Minister Tusk, Portuguese President Costa, Norwegian Prime Minister Støre, Finnish President Stubb, Danish Prime Minister Frederiksen, Spanish Prime Minister Sánchez, Swedish Prime Minister Kristersson, and European Commission President von der Leyen issued a joint statement.  

 

The statement expressed unified support for a just and lasting peace, endorsing Trump’s proposal for an immediate ceasefire and negotiations based on the current line of contact. It reiterated that international borders must not be altered by force and emphasized continued sanctions and pressure on Russia’s economy and defense industry.  

 

The statement also revealed that multiple countries are exploring the use of frozen Russian sovereign assets to provide Ukraine with necessary financial resources. Leaders plan to continue discussions later this week under the European Council and “Coalition of the Willing” frameworks to advance support for Ukraine.

Company News

OpenAI Launches AI Browser Atlas to Compete with Google Chrome  

 

On Tuesday (October 21), AI research firm OpenAI released a new AI-powered web browser, ChatGPT Atlas, directly challenging Google’s Chrome.  

 

OpenAI said Atlas looks and feels like a traditional browser but is built around its generative AI chatbot, ChatGPT, allowing users to summarize content, ask questions, or perform tasks directly on any webpage.  

 

Atlas is now available to macOS users globally, with Windows, iOS, and Android versions coming soon.

 

Apple’s Foldable iPad Development Hits Snags, Launch May Delay to 2029  

 

Sources report that Apple’s 18-inch foldable iPad project is facing hurdles, potentially delaying its release. Priced at ~$3,000, the device has been in development for years with a 2028 target, but engineering challenges around weight, features, and display technology may push the launch to 2029 or later.

 

Netflix Q3 Revenue Hits $11.51 Billion, Up 17.2%  

 

Netflix reported Q3 revenue of $11.51 billion, up 17.2% year-over-year; Q4 revenue is projected at $11.96 billion. Q3 net income was $2.547 billion, compared to $2.364 billion last year; Q3 EPS was $5.87. The company expects full-year revenue of $45.1 billion, slightly above its prior $44.8-$45.2 billion forecast.  

 

Netflix shares fell up to 7% after hours.

 

Texas Instruments Q3 Revenue at $4.74 Billion  

 

Texas Instruments reported Q3 revenue of $4.74 billion, up 14%, beating estimates of $4.65 billion; Q3 capital expenditure was $1.2 billion, below estimates of $1.28 billion; Q3 EPS was $1.48, slightly below estimates of $1.49. The company projects Q4 revenue of $4.22-$4.58 billion, below estimates of $4.5 billion.  

 

Due to weaker-than-expected Q3 earnings, Texas Instruments fell over 8% after hours.

 

Microsoft CEO’s Compensation Nears $100 Million  

 

SEC filings show Microsoft Chairman and CEO Satya Nadella’s 2025 total compensation was $96.5 million, including $84.2 million in equity awards.

Forex & Commodities  

COMEX gold futures fell 4.94% to $4,144.1/oz; spot gold dropped 5.18% to $4,130.41/oz, with an intraday plunge marking the largest single-day drop since April 2013.  

 

COMEX silver futures fell 6.37% to $48.11/oz; spot silver dropped 7.16% to $48.705/oz, with an intraday drop marking the largest since 2021.  

 

WTI crude futures rose 0.52% to $57.82/barrel. Brent crude futures gained 0.51% to $61.32/barrel.  

 

At the New York close, the dollar index rose 0.35% to 98.97, with most non-U.S. currencies declining.

Key Events

U.S. Government to Purchase 1 Million Barrels of Crude to Replenish Strategic Petroleum Reserve  

 

The Trump administration plans to buy 1 million barrels of crude oil for the Strategic Petroleum Reserve (SPR), taking advantage of low oil prices to rebuild depleted stocks.  

 

An Energy Department official said the department will announce on Tuesday the purchase for delivery in December and January, using part of the $171 million allocated for crude purchases in Trump’s tax and spending bill.

Cryptocurrency  

Bitcoin fell 1.93% in 24 hours to $108,596.  

 

Ethereum (ETH-USD) dropped 2.66% to $3,878.74.  

 

XRP (XRP-USD) fell 2.89%, BNB (BNB-USD) dropped 4.09%, and Solana (SOL-USD) declined 2.41%.  

 

Dogecoin (DOGE-USD) fell 2.97%, and Cardano (ADA-USD) dropped 3.34%.

Key Events  

Bitcoin Falls Below $108,000, Analysts Suggest Diversifying and Hedging Risks  

 

Amid ongoing macroeconomic risks, particularly trade tensions, Bitcoin’s price fell below the $108,000 mark.  

 

Jeff Mei, COO of BTSE exchange, said crypto prices may continue to show similar volatility in the short term. “We believe macroeconomic concerns are driving daily market changes,” Mei noted. “As long as trade tensions persist, market volatility will continue. A full easing of tensions is unlikely.”  

 

“The biggest risk for crypto markets lies in the unpredictability of macroeconomic developments and trade dynamics—markets can swing sharply on a single tweet,” Mei said. “Investors should diversify their portfolios and hedge against uncertainty risks.”