MADRID, SPAIN - JUNE 18: Actor Sacha Baron Cohen (C) attends "Bruno" photocall at Plaza de Toros de Las Ventas on June 18, 2009 in Madrid, Spain.

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Stocks climb higher as investors shake off hawkish Fed commentary

The S&P 500 and Nasdaq 100 continued their streak of monthly wins.

10/31/25 4:04PM

The S&P 500, Nasdaq 100, and Russell 2000 all moved higher as investors did not seem to be spooked by the Fed’s hawkish commentary and instead focused on yesterday’s blowout earnings from Amazon . The S&P 500 closed up 0.3% and the Nasdaq 100 rose 0.5%, as did the Russell 2000.

The S&P 500 is on a six-month winning streak, its longest since 2021, and the Nasdaq 100 notched its seventh consecutive monthly gain, a hot streak not seen since 2017, primarily due to the fact the Magnificent 7 have also had seven straight months of gains.

Stocks that moved higher:

Amazon notched a new all-time high after a monster quarter, with AWS revenue growing 20% year on year.
Investors upvoted Reddit after it posted generally strong Q3 financials yesterday.
Netflix rose after the streamer announced in yesterday’s earnings call that it’ll perform a 10-for-1 forward stock split.
Hims & Hers rose after JPMorgan disclosed that it substantially increased its position in the telehealth company.
Cryptocurrency exchange Coinbase reported better-than-expected Q3 sales, profit, and transaction numbers than Wall Street analysts had expected yesterday, sending shares higher.
Strategy jumped following yesterday’s report of third-quarter earnings that beat analysts’ estimates.
Gene-editing stocks Intellia, Beam Therapeutics Inc, Crispr Therapeutics, Editas Medicine, and Prime Medicine rose after the industry’s top regulator told Bloomberg News that the Food and Drug Administration plans to publish a paper in early November outlining the agency’s new, faster approach to approving those treatments.
Western Digital, a maker of the decades-old data storage devices known as hard disk drives that’s become a top stock this year due to the AI boom, rose after it had nothing but good news in yesterday’s Q1 earnings report. The company has received a bevy of target price hikes since reporting results.

Stocks that moved lower:

AbbVie slipped after it reported earnings results that beat Wall Street estimates, but also showed a slowdown in its oncology and aesthetics business.
Getty Images initially climbed higher after announcing a multiyear licensing deal with AI search company Perplexity AI before closing slightly lower.

Max Knoblauch9h

Nike’s China business declines for seventh straight quarter

Sportswear kingpin Nike reported results for its third quarter, which ended in February, after the bell Tuesday. The stock fell about 3% in after-hours trading.

For fiscal Q3, Nike reported:

Earnings of $0.35 per share, comfortably above the Wall Street consensus of $0.29 per share compiled by FactSet.
$11.28 billion in total revenue, roughly in line with the $11.26 billion estimate.

Nike’s sales in China — where the company earns about 15% of its revenue — fell 7% to $1.62 billion. That’s its seventh straight quarter of sales declines in the market, though this quarter’s was less than feared. The company had issued weak guidance for this quarter considering continued softness in the region.

“This quarter we took meaningful actions to improve the health and quality of our business,” said Nike CEO Elliott Hill. “The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum.”

Nike shares are trading near decade lows this month, as tariffs continue to weigh on profits and shipping costs rise amid the war with Iran. As of Tuesday’s close, the stock was down 17% year to date.

Luke Kawa, Tasha Matsumoto

10h

Stocks end worst quarter since 2022 with best day since May

Optimism that the end of the war may be near sent stocks surging.

Max Knoblauch11h

Oil-sensitive travel stocks pop following Iran state media reporting on potential war resolution

Travel stocks are surging on Tuesday as oil prices fall following reports from Iranian state media that President Masoud Pezeshkian said the country has “the necessary will to end this war,” but would only do so with guarantees that “prevent the recurrence of aggression.”

The war has sent oil prices and refining margins surging this month, causing airlines and cruise lines to cut profit forecasts despite reported high demand.

Following Tuesday’s update, shares of the big four US airlines (Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines) all climbed, along with smaller rivals including JetBlue. US airlines have stopped fuel hedging in recent years, increasing their exposure to upward swings in oil prices.

Cruise stocks also rallied, with Carnival and Norwegian up more than 6% and Royal Caribbean up about 5%.

J. Edward Moreno14h

The FDA is expected to lift restrictions on certain peptides, the NYT reports

The Food and Drug Administration is expected to lift restrictions on certain peptides, allowing the experimental, often injectable substances to be sold by compounding pharmacies, The New York Times reported Tuesday.

The potential move was previously reported by The Wall Street Journal, and teased by Health Secretary Robert F. Kennedy Jr. on the “Joe Rogan Experience” podcast in late February.

Peptides have boomed in popularity recently, with search interest for “peptides” surpassing “ozempic” this month. Many of them are currently understudied and not approved for human use, a rule consumers are able to bypass by purchasing them from suppliers that sell them for, ostensibly, research purposes only.

As reports of the FDA changing its stance of peptides mount, consumer health companies like Hims & Hers and Superpower have been getting ready to roll out their peptide offerings as soon as they get the FDA's blessing.

The peptide gold rush: How impending deregulation could supercharge a shadow industry

Matt Phillips15h

Memory stocks bounce as Bernstein analyst calls TurboQuant fears “overdone”

Memory stocks rose Tuesday, after Bernstein analysts called the recent panic over Google’s TurboQuant AI algorithm “overdone.”

Bernstein analyst Mark Newman wrote:

“[Hard disk drive] and Memory stocks have sold off significantly due in part to fears from Google’s TurboQuant report. This however, should have zero impact on HDD demand and negligible impact on NAND demand. Given the stock sell-off we see this as an attractive entry point for Seagate Technology Holdings, Western Digital and Sandisk’s and upgrade WDC to Outperform.”

All three stocks were up early Tuesday, as was memory chip maker Micron.

Today’s rally stands in stark contrast to the pummeling these shares have endured over the last week, after Google Research published a technical paper on March 24 detailing its TurboQuant AI algorithm, which compresses the amount of data associated with AI operations without affecting the accuracy of AI models.

That was seen as a threat to surging AI demand for memory storage, which has supercharged prices for memory chips and memory-related stocks over the last year.