US Stocks Drift; Nasdaq and S&P Reach Intraday Highs — AMD Up Over 5%

Key Points

US Stocks Drift as markets react to a mix of macro headlines, geopolitics, and sector-specific rallies.

Quick market snapshot — US Stocks Drift

Dow Jones Industrial Average: -0.19%.

Nasdaq Composite: +0.04% (intraday high recorded).

S&P 500: -0.10% (intraday high recorded).

Notable mover: Advanced Micro Devices (AMD; Chāowēi 超威半导体) — up >5% intraday.

Why this matters for investors

Equity markets are balancing expectations for Fed policy with fresh geopolitical and trade headlines.

Semiconductor strength, led by names like AMD, is creating concentrated pockets of outperformance in a mixed tape.

Record gold prices are signaling elevated safe-haven demand and investor positioning toward potential Fed easing.

Trade and tariff moves, plus strategic government investments, are reshaping sector-level risk and opportunity.

Global headlines shaping markets

Gold: New York futures hit $4,000/oz for first time; spot gold near record

New York gold futures traded at the historic $4,000 per troy ounce mark for the first time on October 7.

That level represents a year-to-date gain of more than 50%.

Spot gold was quoted at $3,976.94 per ounce — about ¥29,030.66 RMB ($3,976.94 USD) using a 1 USD = ¥7.30 exchange rate.

Expectation of future Fed rate cuts is a core driver behind stronger safe-haven flows into gold.

U.S. tariff action on medium- and heavy-duty trucks

On October 6, U.S. President Donald Trump announced on his social platform that imports of medium- and heavy-duty trucks from other countries would face a 25% tariff effective November 1, 2025.

This follows an earlier statement that tariffs on heavy trucks would rise by 25% starting October 1.

Tariff shifts like this can cause immediate pricing and supply-chain adjustments across transportation, logistics, and OEM suppliers.

France and Italy cooperate on lunar fission reactor development

French nuclear firm Framatome signed a memorandum of understanding with Italy’s Agency for New Technologies, Energy and Sustainable Economic Development (ENEA) to explore fission-reactor designs for the Moon’s environment.

This signals rising competition and collaboration at the intersection of space tech and advanced energy systems.

WTO: Most AI-related trade growth in H1 2025 came from Asia

Marc Bacchetta, acting director of the WTO Economic Research and Statistics Division, said AI-related goods were a key driver of strong trade growth in the first half of 2025.

Trade in these products rose about 20% year-over-year.

Although AI-related goods account for under 10% of global goods trade, they represented nearly half of the year-on-year growth in global trade during that period.

U.S. invests in Trilogy Metals; stock surges

The White House announced a partnership with Trilogy Metals that includes a minority stake acquired via part of a $35.6 million USD investment (approx. ¥259.9 million RMB ($35.6 million USD) using 1 USD = ¥7.30).

The U.S. will hold roughly a 10% stake to help secure critical Alaskan energy and mining projects.

Strategic investments like this can re-rate resource companies tied to critical minerals and domestic supply security.

Nobel Prize highlights quantum breakthroughs

The 2025 Nobel Prize in Physics honored three researchers for discoveries about macroscopic quantum tunneling and energy quantization in circuits.

The recognition underlines continued momentum in quantum computing research and related hardware innovation.

WHO tobacco trend report urges tighter e-cigarette regulation

The World Health Organization’s latest tobacco trends report finds a decline in global smoking prevalence but warns tobacco-related harm remains vast.

The WHO calls for stronger regulation of e-cigarettes, which it says risk spawning a new wave of nicotine addiction.

China’s foreign-exchange reserves remain above $3.3 trillion

Data from China’s State Administration of Foreign Exchange showed that, as of end-September 2025, China’s foreign-exchange reserves stood at 33,387 hundred million USD (33,387亿美元), i.e., about $3.3387 trillion USD.

That’s roughly ¥24.38 trillion RMB ($3.339 trillion USD) using 1 USD = ¥7.30.

This marks the second consecutive month the reserves exceeded the $3.3 trillion threshold and is the highest level since December 2015.

Sector takeaways and trade ideas

• Semiconductors: Names like AMD are in focus — consider tracking earnings, inventory trends, and AI-accelerated demand drivers.
• Precious metals: Record gold suggests monitoring inflows into ETFs and central-bank buying patterns.
• Industrial & transportation: Tariff changes on trucks can pressure margin profiles for OEMs and uplift domestic producers.
• Resources & critical minerals: Government stakes and strategic investing, such as the Trilogy Metals move, can create re-rating opportunities.
• Trade & AI hardware: With AI-related goods driving trade growth, supply-chain plays and Asian exporters warrant attention.

Risk checklist for investors

• Monetary policy expectations can flip market positioning quickly.
• Tariff and trade shifts create sector-specific winners and losers.
• Geopolitical headlines remain a tail risk for globalized supply chains and commodity flows.
• Regulatory shifts (e.g., WHO guidance on e-cigarettes) can alter consumer-facing and healthcare plays.

Important note

This article was translated and summarized from a market brief published by Choice Data via Eastmoney.

It is for informational purposes only and does not constitute investment advice.

Investors should make decisions based on their own research and risk tolerance.

References & further reading

• US Stocks Drift; Nasdaq and S&P Reach Intraday Highs — AMD Up Over 5% – Eastmoney
• New York Gold Futures First Reach $4,000/oz; Up Over 50% YTD – Eastmoney
• Chip Sector Tailwind: AMD’s Epic Rally – Eastmoney

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