💹 Economy & Policy
• Diwali spending hit record levels — ₹5.40 lakh crore on goods and ₹65,000 crore on services, according to CAIT, signaling robust consumer confidence.
• India, with 6% of global rare earth reserves, is set to emerge as a key player in the global clean energy transition, a report noted.
• Corporate profits have nearly tripled since the pandemic, according to the RBI’s latest bulletin, reflecting stronger earnings recovery and margin resilience.
• India surpassed $20 billion in cumulative new AI investment commitments, positioning itself as a major global AI development hub.
📈 Equity Markets
• US markets hit record highs — the Dow gained 217 points (0.46%) to 46,924, led by strong earnings from Coca-Cola, 3M, and GM.
• Gold crashed 5.7%, marking its steepest one-day fall since 2013, as safe-haven demand eased amid improving US-China trade sentiment.
• Asian markets rallied strongly — Japan’s Nikkei touched an all-time high near 50,000 (up 0.86%), while Chinese markets advanced ahead of the Trump–Xi summit next week.
• European markets closed modestly higher — Stoxx 600 up 0.21%, with French equities hitting record highs and defense stocks leading gains.
🏦 Companies & Tech
• OpenAI launched “Atlas,” an AI-powered browser, in a direct challenge to Google, signaling an intensified race in generative search and productivity tools.
• Indian corporates continue to post strong profit momentum, with festive demand and easing input costs supporting earnings outlooks for Q3.
🌏 Global & Commodities
• Gold and silver miners tumbled following the 6% plunge in metal prices, the biggest single-day drop in five years.
• Oil prices rose after the Trump–Putin summit was canceled, fueling geopolitical risk premium in energy markets.
• The US dollar index (DXY) eased to 98.91, as traders priced in a 97% probability of a 25 bps Fed rate cut at the October 29 FOMC meeting.