Daily summary: Equities rally as markets await Trump-Xi talks; precious metals decline on risk-on (27.10.2025)

Wall Street is heading toward the end of the session in the green, driven by rising risk appetite and hopes for a U.S.-China trade deal. The largest gains are seen on the Nasdaq (+1.7%), supported by euphoria in tech stocks, followed by the S&P 500 (+1%), DJIA (+0.5%), and Russell 2000 (+0.25%).

U.S. Secretary of State Marco Rubio spoke with Chinese Foreign Minister Wang Yi regarding the meeting between Trump and Xi Jinping in South Korea. The call took place after weekend trade negotiations in Malaysia concerning tensions over rare earths and U.S. port fees on Chinese ships.

Qualcomm (QCOM.US) shares gained up to 20% (currently: +12%) in reaction to the announcement of new AI200 and AI250 processor lines dedicated to AI training. Customers can use either individual chips or entire server configurations, putting Qualcomm in direct competition with data center leaders Nvidia and AMD.

Optimism was also present during the European session. EU50 added 0.74% today, driven mainly by gains on the Madrid exchange (SPA35: +1%) and Milan (ITA40: +1.2%). Germany’s DAX (DE40: +0.4%), France’s CAC40 (+0.3%), and the UK FTSE 100 (UK100: +0.2%) also closed in the green.

On the FX market, the dollar index trades flat, though significant gains are seen in emerging market currencies (USDBRL: -0.4%, USDCNH: -0.15%, USDPLN: -0.3%). Among G10 currencies, the strongest today is the Australian dollar (AUDUSD: +0.3%, EURAUD: -0.25%), linked to Chinese economic sentiment. EURUSD trades slightly up at 1.165.

AUD is also supported by hawkish comments from RBA Governor M. Bullock, who stated that the recent rise in unemployment according to Australia’s monthly data did not significantly exceed forecasts.

Rising risk appetite continues to push down precious metals. Gold loses another 1.8% to $4,009 per ounce, briefly falling below the psychological $4,000 level during today’s session; silver drops 3% to $46.96 per ounce.

Brent and WTI crude fall 0.5% and 1.2%, respectively, under pressure from the upcoming OPEC+ meeting, during which the cartel is expected to increase production by another 137,000 barrels per day. Oil declines could also result from favorable U.S.-China-India trade deal conditions.

On the cryptocurrency market, optimism dominates. Bitcoin extends gains by another 0.6% to $115,500, Ethereum rises 1.15% to $4,217, with Solana (+0.6%), Ripple (+1.1%), and Polygon (+0.25%) also up. Declines are mainly seen in smaller tokens.