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Overnight Highlights on October 29: U.S. Stocks Close Higher, Fed to Reduce Frequency of Interest Rate Meetings; U.S.-Ukraine-Russia Talks Could Start Next Week; Mailer in Negotiations to Acquire Lumentum NVIDIA; Acquisition Subject to Inquiry
The Block
1h ago
Ai Focus
Top news from the overnight period on October 29th includes U.S. stocks closing higher, the Federal Reserve maintaining interest rates unchanged and stating it will reduce the frequency of interest rate-setting meetings, potential talks between the U.S., Ukraine, and Russia as early as next week, Marvell Technology's bid for Lumentum, and NVIDIA facing inquiries regarding its acquisitions, among others.
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Top 20 US stock trades on October 29: Oracle rises by over 10%, executives release optimistic performance forecasts on Investor Day

On October 29th, most of the popular Chinese concept stocks declined, with New Oriental falling by over 12%, and BOSS Direct Hire falling by over 3%.

Macro

Understand it all in one article | Despite concerns about inflation, the Federal Reserve maintains unchanged interest rates; two members oppose, with Walsh stating that meetings for setting interest rates will be reduced

Company

Maiwell Technology is in talks to acquire Lumentum, with the potential to complete a major supply chain merger and acquisition deal worth AI

Anthropic It is reported that plans are in place to issue stocks to retail investors in the UK through RetailBook.

Comment

The long-awaited interest rate cuts by the Fed are finally coming to fruition, with the central bank reducing the frequency of its interest rate decisions starting next year.

October 29th Overseas Market Headlines: The Fed Remains Passive, Apple Launches Its First Touchscreen Laptop, Oracle Soars, Google's Revenue and Profits Fall Short of Expectations

U.S. Bond Market: The yield curve of Treasurys has become significantly steeper, and Walsh previews adjustments to the FOMC meeting schedule

Crude Oil: Brent prices rise as the market balances the risk of renewed conflict between the US and Iran with diplomatic efforts

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