The U.S. stocks surged to record highs on Wednesday as investors awaited the Federal Reserve’s interest rate decision. The Nasdaq Composite climbed 0.6%, the S&P 500 added 0.2%, and the Dow Jones rose 231 points, or 0.5%.
Markets expect the Fed to cut rates by a quarter point, with investors closely watching whether Chair Jerome Powell signals more easing in December.
US stocks rise toward records as Wall Street waits for an announcement from the Federal Reserve https://t.co/Dw4wL95pbZ pic.twitter.com/MyrupXj1wL
— Sentinel Business (@OSentinelBiz) October 29, 2025
Tech stocks led the rally. Nvidia rose over 3%, becoming the first U.S. company to surpass a $5 trillion market valuation. Other chipmakers like Broadcom and Micron also gained. Investors are eyeing earnings from major players including Alphabet, Meta, Microsoft, Apple, and Amazon this week.
Market concentration hits another record:
— The Kobeissi Letter (@KobeissiLetter) October 29, 2025
The top 10 US stocks now reflect 41.4% of the S&P 500’s market cap, an all-time high.
This marks a +6.2 percentage point increase since April 2025.
Since January 2024, this percentage has risen by +8.4 points.
As a result, the market… pic.twitter.com/3xNH4CQboc
Meanwhile, President Donald Trump is set to meet Chinese President Xi Jinping in South Korea amid easing trade tensions.
Trump has indicated a potential tariff cut on Chinese fentanyl-related goods from 20% to 10%. However, analysts warn of risks from high valuations and the ongoing government shutdown.
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TIPP Staff
TIPP Staff
TIPP Staff
