October 29, 2025

Markets:

U.S. stock futures were mixed Wednesday as investors braced for the Federal Reserve’s rate decision, following another record-setting session for the major averages.

Nvidia continued its historic run, climbing more than 3% in premarket trading and positioning itself to become the first U.S. company ever to hit a $5 trillion market cap.

The S&P 500 closed up 0.2%, briefly breaking above 6,900 intraday and edging closer to the symbolic 7,000 level. The Dow Jones Industrial Average gained 162 points (0.3%), while the Nasdaq Composite outperformed with a 0.8% advance.

Markets now face a critical stretch: the Fed’s policy decision later today, followed by a flood of Big Tech earnings. A 0.25% rate cut is widely expected, but all eyes will be on Chair Jerome Powell’s tone in the post-meeting press conference. Traders are already pricing in another potential cut at the December meeting.

Earnings from the “Magnificent Seven” could drive the next big move. Alphabet, Meta, and Microsoft report after today’s close, with Apple and Amazon following on Thursday. While optimism remains high around AI and data center spending, any sign of softness from these megacaps could pressure the broader market.

Meanwhile, easing U.S.-China trade tensions have lifted sentiment, with investors awaiting developments from President Trump’s upcoming meeting with Chinese President Xi Jinping in South Korea.

Portfolio:

It’s been an excellent start to the week — and today marks a pivotal moment with the Fed decision and blockbuster earnings from GOOGL, MSFT, and META on deck.

We’ve guided you through this rally step by step, and we believe we’ve now entered the “anger phase” — where those who’ve missed the move are frustrated, searching for reasons to fade the trend or stay on the sidelines. That emotion often evolves into fear of missing out, which fuels the next powerful leg higher.  That phase is building.

Yes, volatility will come, but the broader direction remains intact and strengthening. Ignore the noise, respect the trend, and ride it until it truly breaks.

We’re already preparing for the next phase — identifying the emerging leaders and sectors driving the ongoing tech and AI revolution. Our upcoming basket reveal will showcase the names we expect to define the next wave.

Stay patient today. Expect some turbulence around the Fed. No changes to our current positions: CIFR, OPEN, ONDS, and TSLL.