WEEK IN PERSPECTIVE: Mega-cap earnings and trade optimism lift markets; Powell comments temper December rate-cut bets

📈 Market Recap: Week in Review

U.S. equities kicked off the week with strong momentum, fueled by optimism surrounding U.S.-China trade negotiations and robust mega-cap earnings. This early surge propelled the major indices to record highs through Wednesday. However, the rally lost steam toward the end of the week, resulting in a mixed finish.

🏆 Weekly Performance Highlights

• Nasdaq Composite: +2.2%

• Dow Jones Industrial Average (DJIA): +0.8%

• S&P 500: +0.7%

• Russell 2000: -1.4%

• S&P MidCap 400: -1.6%

Large-cap tech stocks led the charge, buoyed by a preliminary U.S.-China trade framework and standout earnings. Amazon and Alphabet delivered impressive quarterly results, while NVIDIA’s announcements—including $500 billion in chip orders through 2026—further energized the sector. Meta’s midweek report, however, tempered enthusiasm due to its elevated AI spending outlook.

📊 Sector Trends

• Leaders: Information Technology (+3.0%), Consumer Discretionary (+2.8%)

• Laggards: Consumer Staples (-3.7%), Real Estate (-3.9%), Utilities (-2.6%)

💵 Monetary Policy Update The Federal Reserve implemented a widely anticipated 25-basis point rate cut. Yet, Fed Chair Jerome Powell’s post-meeting remarks cooled expectations for another cut in December, with market odds slipping to around 65%.

Despite the late-week pullback, strong earnings, accelerating AI investments, and trade optimism kept investor sentiment broadly upbeat.

Looking ahead: This week (Nov 4–8, 2025), markets are poised for volatility and opportunity, driven by key earnings reports, economic data releases, and lingering rate cut speculation.

Here’s your full preview of what to watch:

📊 Major Earnings Reports

This week features high-impact earnings from tech and consumer giants:

• Monday (Nov 3): Palantir (PLTR) reports after the close, with investors watching for updates on AI monetization and government contracts.

• Tuesday (Nov 4):

• AMD reports after market close, a key read on semiconductor and AI server demand.

• Super Micro Computer (SMCI) also reports Tuesday evening, with sentiment cautious after recent guidance revisions.

🧮 Key Economic Data

Several important indicators will shape investor sentiment:

• Tuesday (Nov 4):

  • Trade Balance (Sep)

  • Factory Orders and Durable Goods Orders (Sep)

• Wednesday (Nov 5):

  • ADP Employment Report (Oct)

  • ISM Non-Manufacturing Index (Oct)

• Thursday (Nov 6):

  • Labor Productivity and Unit Labor Costs (Q3 preliminary)

• Friday (Nov 7):

• Nonfarm Payrolls, Unemployment Rate, and Hourly Earnings (Oct) — these will be closely watched for clues on Fed policy

💬 Market Sentiment & Fed Watch

• The Fed’s recent 25-basis-point rate cut has fueled optimism, but Chair Powell’s comments have tempered expectations for another cut in December.

• Current market odds for a December cut sit around 65%, making this week’s labor data especially pivotal.

🔍 Sector Focus

• Tech and AI remain in the spotlight, especially with AMD, SMCI, and Palantir reporting.

• Consumer discretionary may see movement from McDonald’s and Yum! earnings.

• Healthcare and semiconductors are also in play with Humana, Pfizer, and Qualcomm on deck.

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