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Stocks wrapped up a winning week and month for Wall Street, thanks to a surge in technology shares. The Nasdaq Composite climbed 2.24%, the S&P 500 rose 0.7%, and the Dow Jones Industrial Average edged up about 0.8%. In October, the S&P 500 rose 2.3%, the Nasdaq jumped 4.7%, and the Dow increased 2.5%, marking its sixth consecutive monthly gain for the first time since 2018, as quoted on CNBC.
Inside the Mag-7 Earnings
Last week was packed with Big Tech, or most of the “Magnificent Seven” earnings. Amazon shares rose after strong Q3 results driven by booming AI cloud demand. Apple, too, gained on upbeat earnings and guidance despite soft iPhone and China sales. Apple CEO Tim Cook offered impressive guidance, citing strong demand for iPhone 17 (read: Mag-7 Earnings: Trick or Treat for ETF Investors?).
Microsoft shares slipped despite solid cloud growth and better-than-expected results due to higher spending plans. The Meta stock tumbled after a large tax charge overshadowed strong revenue growth, while Alphabet rose on robust earnings, higher AI-related capex, and strong Google Cloud performance.Most Big Tech companies joined the chorus of aggressive capital expenditures.
AI Momentum Boosts Broader Tech Sector
Investor optimism over Amazon’s results lifted other AI-related and tech names. Palantir rose 3% on Oct. 31, 2025, Oracle gained 2.2% and Netflix advanced 2.7% after announcing a 10-for-1 stock split, and Tesla climbed 3.7%, as quoted on the above-said CNBC article. Meanwhile, NVIDIA touched the $5-trilion market-cap mark last week.
Fed Rate Cuts
Last week witnessed a Fed rate cut. By a 10-2 vote, the Fed slashed interest rates by a quarter percentage point for the second consecutive meeting this year, bringing its benchmark rate down to a range of 3.75-4.00% (per CNBC). The decision, though taken amid limited economic data due to the ongoing government shutdown, reflects the central bank’s intention to bolster economic growth and strengthen the labor market.
Signs of U.S.-China Trade Truce?
Hopes of easing U.S.-China trade tensions have also boosted investor confidence. President Donald Trump and Chinese President Xi Jinping concluded a meeting in Busan, South Korea. The two sides apparently reached an understanding to pause new trade tensions, including China’s rare-earth licensing regime, and to resume U.S. agricultural imports such as soybeans.
China will end investigations targeting U.S. companies involved in the semiconductor supply chain, according to a White House announcement, per Bloomberg, as quoted on Yahoo Finance.
ETF Winners of the Week
Global X MSCI Argentina ETF (ARGT) – Up 27.1%
The underlying MSCI All Argentina 25/50 Index is designed to measure the equity performance of the top 20 companies within the investable universe of Argentina-domiciled companies or companies that have substantial revenues or assets in Argentina. The fund (ARGT - Free Report) charges 59 bps in fees.
Bitwise COIN Option Income Strategy ETF (ICOI) – Up 11.3%
The Bitwise COIN Option Income Strategy ETF seeks to provide current income and exposure to the price return of common shares of Coinbase Global, Inc., subject to a limit on potential investment gains. The fund (ICOI - Free Report) charges 98 bps in fees and yields 118.76% annually.
Sprott Uranium Miners ETF (URNM) – Up 9.5%
The underlying North Shore Global Uranium Mining Index seeks to track the performance of companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets. The fund (URNM - Free Report) charges 75 bps in fees and yields 1.99% annually.
Global X Hydrogen ETF (HYDR) – Up 7.1%
The underlying Solactive Global Hydrogen Index provides exposure to companies that are positioned to benefit from further advances in the field of hydrogen technology. The fund (HYDR - Free Report) charges 50 bps in fees and yields 0.60% annually.
Breakwave Tanker Shipping ETF (BWET) – Up 7.1%
The underlying Breakwave Tanker Futures Index follows the near-dated futures market on a constant rolling basis. The fund (BWET - Free Report) charges 350 bps in fees.
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Best-Performing ETFs of Last Week
Stocks wrapped up a winning week and month for Wall Street, thanks to a surge in technology shares. The Nasdaq Composite climbed 2.24%, the S&P 500 rose 0.7%, and the Dow Jones Industrial Average edged up about 0.8%. In October, the S&P 500 rose 2.3%, the Nasdaq jumped 4.7%, and the Dow increased 2.5%, marking its sixth consecutive monthly gain for the first time since 2018, as quoted on CNBC.
Inside the Mag-7 Earnings
Last week was packed with Big Tech, or most of the “Magnificent Seven” earnings. Amazon shares rose after strong Q3 results driven by booming AI cloud demand. Apple, too, gained on upbeat earnings and guidance despite soft iPhone and China sales. Apple CEO Tim Cook offered impressive guidance, citing strong demand for iPhone 17 (read: Mag-7 Earnings: Trick or Treat for ETF Investors?).
Microsoft shares slipped despite solid cloud growth and better-than-expected results due to higher spending plans. The Meta stock tumbled after a large tax charge overshadowed strong revenue growth, while Alphabet rose on robust earnings, higher AI-related capex, and strong Google Cloud performance.Most Big Tech companies joined the chorus of aggressive capital expenditures.
AI Momentum Boosts Broader Tech Sector
Investor optimism over Amazon’s results lifted other AI-related and tech names. Palantir rose 3% on Oct. 31, 2025, Oracle gained 2.2% and Netflix advanced 2.7% after announcing a 10-for-1 stock split, and Tesla climbed 3.7%, as quoted on the above-said CNBC article. Meanwhile, NVIDIA touched the $5-trilion market-cap mark last week.
Fed Rate Cuts
Last week witnessed a Fed rate cut. By a 10-2 vote, the Fed slashed interest rates by a quarter percentage point for the second consecutive meeting this year, bringing its benchmark rate down to a range of 3.75-4.00% (per CNBC). The decision, though taken amid limited economic data due to the ongoing government shutdown, reflects the central bank’s intention to bolster economic growth and strengthen the labor market.
Signs of U.S.-China Trade Truce?
Hopes of easing U.S.-China trade tensions have also boosted investor confidence. President Donald Trump and Chinese President Xi Jinping concluded a meeting in Busan, South Korea. The two sides apparently reached an understanding to pause new trade tensions, including China’s rare-earth licensing regime, and to resume U.S. agricultural imports such as soybeans.
China will end investigations targeting U.S. companies involved in the semiconductor supply chain, according to a White House announcement, per Bloomberg, as quoted on Yahoo Finance.
ETF Winners of the Week
Global X MSCI Argentina ETF (ARGT) – Up 27.1%
The underlying MSCI All Argentina 25/50 Index is designed to measure the equity performance of the top 20 companies within the investable universe of Argentina-domiciled companies or companies that have substantial revenues or assets in Argentina. The fund (ARGT - Free Report) charges 59 bps in fees.
Bitwise COIN Option Income Strategy ETF (ICOI) – Up 11.3%
The Bitwise COIN Option Income Strategy ETF seeks to provide current income and exposure to the price return of common shares of Coinbase Global, Inc., subject to a limit on potential investment gains. The fund (ICOI - Free Report) charges 98 bps in fees and yields 118.76% annually.
Sprott Uranium Miners ETF (URNM) – Up 9.5%
The underlying North Shore Global Uranium Mining Index seeks to track the performance of companies that are involved in the mining, exploration, development, and production of uranium, as well as companies that hold physical uranium or other non-mining assets. The fund (URNM - Free Report) charges 75 bps in fees and yields 1.99% annually.
Global X Hydrogen ETF (HYDR) – Up 7.1%
The underlying Solactive Global Hydrogen Index provides exposure to companies that are positioned to benefit from further advances in the field of hydrogen technology. The fund (HYDR - Free Report) charges 50 bps in fees and yields 0.60% annually.
Breakwave Tanker Shipping ETF (BWET) – Up 7.1%
The underlying Breakwave Tanker Futures Index follows the near-dated futures market on a constant rolling basis. The fund (BWET - Free Report) charges 350 bps in fees.