🗓 Thursday, October 16, 2025
► Europe higher – tech and earnings strength drive gains
European stocks advanced, led by strong tech and consumer shares after ASML, Nestlé, and LVMH posted solid results recently. Sentiment improved further after TSMC raised its revenue and capital spending outlook, reinforcing optimism in the ongoing AI-driven investment cycle. Stoxx 600 +0.3%, DAX flat (-0.04%), CAC 40 +1.0%, FTSE 100 -0.2%, FTSE MIB +0.35%, IBEX -0.5%. Bund 10Y 2.56% (+1bp), UK 10Y 4.51% (-4bps). EUR/USD 1.165 (+0.05%), GBP/USD 1.343 (+0.2%), USD/JPY 151.3 (+0.1%). Investors largely looked past renewed US-China tensions, focusing instead on robust earnings momentum and improving outlooks for AI-linked industries.
► Wall Street higher – AI trade and earnings optimism extend rebound
US markets rose for a second day as strong earnings and AI enthusiasm continued to support risk appetite. S&P 500 +0.45%, Nasdaq 100 +0.65%, Dow +0.25%. Chipmakers and software stocks outperformed after TSMC reported a 39% profit surge and raised guidance, boosting Nvidia (+1.2%), Broadcom (+1.7%), and Micron (+3.6%) etc. Salesforce (+6%) jumped on long-term revenue growth targets above expectations. US 10Y 4.02% (-1bp), DXY flat. The earnings season remains a key driver, with 78% of S&P 500 companies beating forecasts so far. Fed officials reiterated dovish tones, supporting expectations for an October rate cut.
► Asia higher – TSMC and AI optimism lead regional rally
Asian markets traded mostly higher, following Wall Street gains and boosted by TSMC’s strong results and AI outlook. Nikkei +1.3%, Kospi +2.5%, Taiwan +1.4%, ASX +0.9%, Shanghai +0.1%, Shenzhen -0.25%, Hang Seng -0.1%, Nifty +1.0%. USD/JPY 151.2 (+0.1%). Regional sentiment improved as investors bet on further AI-led investment and tech demand resilience, even as geopolitical tensions linger.
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