Weekly Market Overview:
October 20-24
October 20-24
The US stock market closed Monday’s trading higher . At closing time on the New York Stock Exchange, the Dow Jones index rose 1.12%, the S&P 500 index rose 1.07%, and the NASDAQ Composite index rose 1.37 %. Treasury 10-year yields decreased 2 basis points to 3.9%. Gold futures rose 3.47% to $4359. Crude oil Brent futures fell 0.46% to $61.01. Of the 11 S&P sectors 1 ended in the red. Consumer Defensive were the weakest; Basic materials topped the gainers.
Markets brush off worries, risk rally rages on. Global markets are experiencing a surge in investor optimism, with Asian stocks reaching fresh highs as U.S.–China trade tensions appear to ease and a rate cut by the Federal Reserve next week is now widely anticipated. In Japan, the likely appointment of Sanae Takaichi as prime minister has boosted market confidence, driving the Nikkei toward the 50,000-level and weakening the yen. European equities are also buoyed by a light economic calendar and growing risk appetite, while traders closely monitor major U.S. earnings reports from banks such as UniCredit and L’Oréal. Despite underlying credit concerns and the U.S. government shutdown, markets appear to be “buying the dip,” leveraging the favorable backdrop for earnings and policy.
Apple Sets First Share Price Record in 2025. Apple shares reached a new 2025 high, rising nearly 4% to $262 after an upgrade from Loop Capital analysts, Bloomberg reports. The gains were fueled by strong demand for the iPhone 17, whose sales in the US and China exceeded the previous model's by 14%. Analysts anticipate the start of a device refresh cycle and raised their target price to $315. However, only 58% of analysts recommend buying Apple shares—one of the lowest among tech giants.
A former deputy's company will import 800 cows from Denmark for a new farm for 5.3 bln KZT. Ice, in partnership with the Aktobe Agricultural Production Cooperative, is implementing a 5.3 billion tenge project to build a dairy farm. This project will involve importing 800 Danish breeding cows to Kazakhstan. Over 300 cows have already been delivered, and the remaining cows are scheduled to arrive by the end of the year. Once completed, the farm will be able to produce up to 10,000 tons of milk annually and create dozens of jobs. The project is being financed by the Aktobe Agricultural Production Cooperative at a preferential rate of 2.5% and is aimed at developing the agricultural sector and increasing dairy productivity in the region.
The US stock market closed Tuesday’s trading higher . At closing time on the New York Stock Exchange, the Dow Jones index rose 0.47%, the S&P 500 index rose 0.00%, and the NASDAQ Composite index fell 0.16%. Treasury 10-year yields decreased 2 basis points to 3.9%. Gold futures fell 5.74% to $4110. Crude oil Brent futures rose 0.51% to $61.32. Of the 11 S&P sectors 9 ended in the red. Basic Materials were the weakest; Consumer Cyclical topped the gainers.
Inflation will wipe away UK's rate-cut bets. Markets are focused on the upcoming UK inflation print, expected to hit around 4% for September, which could derail hopes of a near-term rate cut by the Bank of England, lowering odds from about 15%. Global investors are also watching gold’s sudden drop and Asian stocks’ retreat, even as Japan’s market gains on stimulus hopes. The overall market tone is one of cautious positioning ahead of major data and central bank signals that could shift expectations sharply.
Coca-Cola beat analysts' expectations: sales are growing despite high prices. Coca-Cola reported results that beat Wall Street forecasts: third-quarter sales rose 5% to $12.5 billion, and earnings per share rose 30% to $0.86. The company noted robust demand for its classic and low-calorie colas, despite high prices, and maintained its full-year profit growth forecast at 3%. Operating profit increased 59%, driven by sales growth and cost optimization. CFO John Murphy announced the launch of a new line of beverages made from American cane sugar in glass bottles. Coca-Cola shares jumped 4% and have gained 10% year-to-date, trailing the S&P 500 (+15%).
Beeline buys OLX Kazakhstan for $75 million. Ice, in partnership with the Aktobe Agricultural Production Cooperative, is implementing a 5.3 billion tenge project to build a dairy farm. This project will involve importing 800 Danish breeding cows to Kazakhstan. Over 300 cows have already been delivered, and the remaining cows are scheduled to arrive by the end of the year. Once completed, the farm will be able to produce up to 10,000 tons of milk annually and create dozens of jobs. The project is being financed by the Aktobe Agricultural Production Cooperative at a preferential rate of 2.5% and is aimed at developing the agricultural sector and increasing dairy productivity in the region.
The US stock market closed Wednesday’s trading lower . At closing time on the New York Stock Exchange, the Dow Jones index fell 0.71%, the S&P 500 index fell 0.53%, and the NASDAQ Composite index fell 0.93%. Treasury 10-year yields decreased 1 basis points to 3.9%. Gold futures fell 1.06% to $4065. Crude oil Brent futures rose 2.07% to $62.59. Of the 11 S&P sectors 7 ended in the red. Industrials were the weakest; Energy topped the gainers.
Beyond Meat's back on the menu. Stocks of high-flyers and meme-names took a hit in after-hours trade, with Beyond Meat dropping 11.4% after a frenzy that had previously pushed it up over 1,400%. Tech giant Tesla slid 3.8% despite reporting record Q3 revenue, because its profit failed to meet analysts’ expectations. Meanwhile, the fight for attention widened as Asian markets looked ahead to economic data from France, the UK and the Eurozone, and the UK prepared for a five-year debt auction. The widespread sell-off underscored investor nerves about stretched valuations and a crowded binge in speculative stocks, just as more traditional equities and data-driven trends gain dominance.
Coca-Cola beat analysts' expectations: sales are growing despite high prices. Coca-Cola reported results that beat Wall Street forecasts: third-quarter sales rose 5% to $12.5 billion, and earnings per share rose 30% to $0.86. The company noted robust demand for its classic and low-calorie colas, despite high prices, and maintained its full-year profit growth forecast at 3%. Operating profit increased 59%, driven by sales growth and cost optimization. CFO John Murphy announced the launch of a new line of beverages made from American cane sugar in glass bottles. Coca-Cola shares jumped 4% and have gained 10% year-to-date, trailing the S&P 500 (+15%).
Anthropic Discusses Major Deal. AI startup Anthropic is in talks with Google for a deal worth tens of billions of dollars, Bloomberg reports. The agreement includes the use of Google's cloud services and its tensor processing units (TPUs), which accelerate model training. Anthropic, founded by former OpenAI employees, is developing language models and the Claude assistant. Google is already an investor in the company and a cloud provider. Google is also increasing its infrastructure investments—$15 billion in data centers in India and £5 billion in AI technology and R&D in the UK.
The US stock market closed Thursday’s trading higher . At closing time on the New York Stock Exchange, the Dow Jones index rose 0.31%, the S&P 500 index rose 0.58%, and the NASDAQ Composite index rose 0.89%. Treasury 10-year yields increased 1 basis points to 3.9%. Gold futures rose 1.97% to $4145. Crude oil Brent futures rose 5.43% to $65.99. Of the 11 S&P sectors 2 ended in the red. Consumer Defensive were the weakest; Energy topped the gainers.
Spotlight on CPI before APEC whirlwind. Investors are preparing for the release of US consumer price index data for September, with expectations of around 3.1% for the core, and don't expect it to prevent the Federal Reserve from cutting rates next week. Meanwhile, attention is also focused on the APEC summit and the expected trade meeting between Donald Trump and Xi Jinping. European stock futures are signaling a stable open, while oil and gold are calming after recent volatility. In Asia, positive Intel Corporation results helped support markets; in Japan, inflation above the Bank of Japan's target has fueled expectations for a rate hike.
Oil prices rise amid US sanctions pressure on Russia. Oil prices soared after the US announced sanctions against Russian oil giants Rosneft and Lukoil, raising fears of supply disruptions. The sanctions, aimed at increasing pressure on Moscow, coincided with tougher EU measures, including a ban on transactions with Rosneft and Gazprom Neft. Analysts warn that the restrictions could disrupt global supplies and lead to a prolonged price surge.
Energy China announced its intention to invest in Kazakhstan's water infrastructure. Energy China, a Chinese corporation, has expressed its willingness to invest in modernizing Kazakhstan's water management infrastructure, Kapital.kz reports, citing the Ministry of Water Resources. At a meeting between First Vice Minister Nurlan Aldamzharov and Energy China President Qiao Xiubin, the parties discussed joint projects to digitalize water management, implement water-saving technologies, and train personnel. Energy China reviewed the Concept for the Development of Kazakhstan's Water Resources System until 2030 and confirmed its interest in participating. In September, Kazakhstan and Energy China signed an agreement to build a $320 million solar power plant in the Turkestan region, scheduled for completion in 2025-2026.
The US stock market closed Friday’s trading higher . At closing time on the New York Stock Exchange, the Dow Jones index rose 0.71%, the S&P 500 index rose 1.23%, and the NASDAQ Composite index rose 1.86%. Treasury 10-year yields increased 1 basis points to 3.9%. Gold futures fell 2.85% to $4019. Crude oil Brent futures fell 0.49% to $65.62. Of the 11 S&P sectors 2 ended in the red. Basic Materials were the weakest; Communication Services topped the gainers.
Of baseball, golf and Nobel prizes. European stock markets and Wall Street futures remain virtually unchanged ahead of this season's earnings season for major tech companies. Investors are aware that approximately 30% of S&P 500 companies have already reported earnings, and 85% of them have beaten earnings expectations. Meanwhile, markets are eagerly awaiting the Federal Reserve's meeting, where a 25 basis point rate cut is expected a move that could be key to the dollar and bond market.
Qualcomm shares jump 11% as the company enters the race with Nvidia and AMD. Qualcomm shares rose 11% after announcing its entry into the data center market, where it intends to compete with Nvidia and AMD. The company unveiled its new AI200 and AI250 chips, which boast low power consumption and compatibility with competitors' products. The first customer will be Saudi startup Humain, which plans to deploy 200 MW of computing power. Analysts note that even a modest increase in AI accelerator market share could generate billions of dollars in additional revenue for Qualcomm.
Kazakhstan and Russia are implementing cooperative projects worth $56.6 billion. Kazakhstan and Russia are implementing 175 joint industrial projects worth $56.6 billion, creating over 64,000 jobs, according to the Ministry of Industry and Construction of the Republic of Kazakhstan. Minister Yersaiyn Nagaspayev discussed prospects for deepening industrial cooperation and developing cooperative ties with his Russian counterpart, Anton Alikhanov, in Moscow. The key areas of cooperation include automotive manufacturing, metallurgy, chemicals, railway engineering, and construction materials. Both sides confirmed their commitment to further strengthening industrial partnerships and expanding production chains.
Russian company Lukoil announced plans to exit international assets due to US and UK sanctions. The decision was made under a US Treasury Department (OFAC) license allowing the company to complete operations until November 21, with the possibility of extension. The sanctions also affected Rosneft and its subsidiaries, including the Kazakh project Kalamkas-Khazar Operating LLP, in which Lukoil and KazMunayGas each own a 50% stake. Meanwhile, the company's projects in Kazakhstan and Azerbaijan - CPC, TCO, Shah Deniz, and others - are exempt from British sanctions until 2027. Over 30 years of operation in Kazakhstan, Lukoil has invested over $12 billion and is involved in the country's largest oil and gas projects, including Karachaganak, Tengiz, and CPC.