Tonight’s Highlights | Nvidia Market Cap Targets $5 Trillion, Fed Decision Looms  

On Wednesday, U.S. stock index futures rose collectively, with most major European indices gaining.  

 

Major indices hit record highs for the second straight day. Investors believe the bullish momentum will continue if the market navigates key tests this week smoothly.

 

The Fed will announce its rate decision at 2:00 AM Beijing Time Thursday, with Chair Powell holding a press conference at 2:30 AM.

 

With a 25bps cut nearly certain, focus shifts to: when the Fed ends balance sheet runoff on its $6.6 trillion portfolio, and odds of a December cut.

 

Three Magnificent Seven names—Microsoft, Google, and Meta—report after the close. Any disappointments could weigh on the broader market.

 

Despite risks like U.S. government shutdown, high valuations, and trade uncertainty, analysts warn against betting on a downturn.

 

“I expect market enthusiasm to persist this week,” New York Life Investments chief market strategist Lauren Goodwin said Tuesday. “I think the path remains clear through year-end.”

 

Nvidia up over 3% pre-market—if sustained post-open, it becomes the first $5 trillion market cap company, solidifying its global lead.

Company News

Amazon Web Services to Invest $5B in South Korea for AI Data Centers  

 

On October 29, South Korea’s presidential office announced AWS will invest at least $5 billion in Korea by 2031 to build AI data centers.

 

Boeing Q3 Revenue $23.27B  

 

Boeing Q3 revenue: $23.27B (exp. $22.29B); Q3 adj. free cash flow: $238M (exp. -$884.1M); Q3 core EPS loss: $7.47.

 

UPS Announces Transformation Strategy, Discloses 48,000 Job Cuts Plan  

 

On October 28 local time, UPS reported Q3 consolidated revenue $21.4B; consolidated operating profit $1.8B; diluted EPS $1.55.  

 

UPS unveiled a transformation strategy to optimize scale via efficiency, cutting ~14,000 positions (mostly management).  

 

Additionally, network restructuring addresses volume decline: in first nine months of 2025, ~34,000 operational roles cut, 93 leased/owned facilities closed. UPS will continue assessing air/ground network trends to identify more closures.

 

UBS Q3 Net Profit $2.48B, Up 74% YoY  

 

UBS reported Q3 total revenue $12.76B, up 3.5% YoY; net profit $2.48B, up 74%; EPS $0.76 (vs. $0.43 last year).

 

Visa: Q4 Net Revenue $10.7B, Up 11% YoY  

 

On October 28 local time, Visa reported Q4 net revenue $10.7B, up 11%; adj. net income $5.8B, up 6.9%; adj. EPS $2.98 (vs. $2.71 last year).

 

Intel: Partners with BOE to Develop Innovative Display Tech  

 

On October 29, Intel and BOE announced joint development of AI-based laptop display power-saving solutions. The technology intelligently balances efficiency and image quality for extended battery life and superior visuals. Expected in OEM products with Intel platforms starting 2026.