Optimistic earnings sentiment outweighs trade concerns, with all three major U.S. stock index futures rising collectively, Asian stock markets closing higher across the board, gold and silver maintaining strength, and cryptocurrencies experiencing fluctuations

Wallstreetcn
2025.10.16 23:08
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The earnings reports of technology stocks show strong profits, driving the US stock market up. Spot gold rose sharply before retreating slightly, but remains strong. Cryptocurrencies are volatile, with Bitcoin slightly down

On October 16, the tension brought by trade rhetoric eased, and driven by technology stocks, Asian stock markets collectively rose, European stocks opened mixed, and US stock index futures edged higher. Gold and silver remained strong, US Treasury yields were almost unchanged, the US dollar index slightly declined, and cryptocurrencies fluctuated.

Strong earnings from technology stocks boosted market sentiment, with investors believing that the AI boom can still drive corporate profits. TSMC announced its earnings, with Q3 net profit hitting a record high, exceeding expectations with a 39% growth.

Fabiana Fedeli, Chief Investment Officer for Equities, Multi-Asset, and Sustainability at M&G Investments, stated in a Bloomberg interview: Investors have become accustomed to "political fluctuations, and they now realize that unless corporate profits are harmed (and companies are the true drivers of risk markets), it cannot actually affect the stock market.

  • US dollar index futures rose slightly. S&P 500 futures rose 0.16%, Nasdaq 100 futures rose 0.34%, and Dow Jones futures rose 0.12%.

  • European stocks opened mixed, with the Euro Stoxx 50 index up 0.14%, Germany's DAX index down 0.12%, the UK's FTSE 100 index down 0.03%, and France's CAC 40 index up 0.08%.

  • The Nikkei 225 index closed up 1.3%, at 48,277.74 points. Japan's Topix index rose 0.6%, at 3,203.42 points. South Korea's Seoul Composite Index closed up 2.5%, at 3,748.37 points, continuing to set a new historical high.

  • South Korean chipmaker SK Hynix's stock price rose by as much as 6.9%, driving the South Korean Composite Stock Price Index up 2.1%.

  • Spot gold rose more than 0.5% in the short term, currently priced at $4,232 per ounce.

US dollar index futures rose slightly. S&P 500 futures rose 0.16%, Nasdaq 100 futures rose 0.34%, and Dow Jones futures rose 0.12%.

European stocks opened mixed, with the Euro Stoxx 50 index up 0.14%, Germany's DAX index down 0.12%, the UK's FTSE 100 index down 0.03%, and France's CAC 40 index up 0.08%.

Spot gold rose more than 0.5% in the short term, currently priced at $4,232 per ounce.

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