US stock indexes are on the rise, with the S&P 500, Dow Jones, and Nasdaq 100 hitting new all-time highs. Trade tensions ease as Trump considers lowering tariffs on Chinese goods. A US-South Korea trade deal worth $150 billion in shipbuilding investments is finalized. Semiconductor stocks rally, with Nvidia leading the charge.

The Fed is expected to cut interest rates at today’s FOMC meeting, with markets anticipating a 25 bp rate cut. The Fed may halt its quantitative tightening regime, with markets pricing in future rate cuts. No Summary of Economic Projections will be released, but Fed Chair Powell will hold a press conference.

US MBA mortgage applications rise +7.1%, with lower rates driving purchases and refinancing. A tentative US-China trade deal is expected to be announced at the APEC summit. Q3 earnings, including reports from tech giants, show strong results but slower growth. Trump imposes tariffs on Canada amid trade tensions.

The US government shutdown continues, delaying economic reports. Overseas markets see gains. T-note prices fall on stock rally but could find support from Fed rate cuts. European bond yields drop. Swaps predict a minimal chance of an ECB rate cut. Stock movers include Nvidia, Lam Research, and Teradyne with positive earnings reports.

In stock movements, Caterpillar and Centene lead gains, while Fiserv and Verisk Analytics face losses. Earnings reports for various companies are due, including CVS Health, Boeing, and Verizon. Reciprocal tariffs and legal battles await a Supreme Court ruling. Markets watch for trade developments and economic indicators.

Read more at Nasdaq: Stock Indexes Soar to Record Highs as Global Trade Tensions Ease