By William Collins, consultant in stock markets – Eurasia Business News, October 28, 2025. Article no 1860
The Nasdaq Composite rallied about 1.9% on October 28, reaching a record intraday high of 23,658.66 and closing at a fresh record of 23,637.46. This surge was largely driven by strong performances from AI semiconductor companies like QUALCOMM, which jumped 11.1% after unveiling a new AI chip for data centers. The broader market was buoyed by anticipation of upcoming Federal Reserve interest rate cuts and optimism around artificial intelligence investments.
Microsoft notably hit a $4 trillion market capitalization milestone following better-than-expected quarterly earnings. Its stock price rose to around $542.07, boosting confidence in its AI and cloud businesses, with the company’s market cap reported at about $4.03 trillion. Microsoft became only the second publicly traded company after Nvidia to surpass the $4 trillion mark. Other tech giants like Meta also showed strong gains, with Meta ascending to all-time highs driven by AI-enhanced advertising revenue forecasts.
Shares of United Parcel Service (UPS) rallied significantly, rising about 8.0% to roughly $96.36. The surge followed better-than-expected Q3 earnings of $1.74 per share, beating estimates by $0.43. UPS also reported $21.4 billion in revenue, slightly above forecasts, and declared a quarterly dividend with a yield near 6.9%. The stock opened at $98.45 and traded between $95.01 and $100.57 during the day, reflecting strong investor confidence driven by robust financial results and strategic market expansions.
The Dow Jones Industrial Average (DJIA) rose about 0.34%, gaining 161.78 points to close at approximately 47,706.37, reaching a record intraday high of 47,943.16 during the session. The Dow’s advance reflected broad market optimism with 21 out of its 30 components ending positive.
The S&P 500 also performed well, advancing around 0.4%, continuing its trend of recent record closes above the 6,800 level. This marked sustained strength in the broader market alongside the Nasdaq rally.
New details also emerged Tuesday on U.S. trade talks with China. Under a trade framework that President Trump and Chinese leader Xi Jinping are set to discuss later this week, the U.S. would roll back some tariffs on China if Beijing cracks down on the export of chemicals that produce fentanyl, The Wall Street Journal reported.
Gold price was approximately $3,969.40 per troy ounce in U.S. dollars. The day’s range was between $3,901.30 and $4,034.20, with a decline of around 1.25% from the previous close. It could be a great opportunity to buy gold now.
Read also : Gold : Build Your Wealth and Freedom
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© Copyright 2025 – Eurasia Business News. Article no. 1860
Eurasia Business News 