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Wall Street put up a strong show in October. The S&P 500 has advanced about 1.9% over the past month, the Dow Jones has gained 1.7% and the Nasdaq Composite has surged about 4.2% (as of Oct. 31, 2025).
Key Events of October
Against this backdrop, below we highlight a few key economic and corporate events from the month of October.
Earnings Season
Of the 222 S&P 500 companies that have reported Q3 results so far, earnings are up 10.7% year over year on 8% higher revenues, with 83.8% surpassing EPS estimates and 77.9% topping revenue forecasts. Notably, 68.5% beat both metrics.
The Q3 earnings and revenue growth for these 222 companies show a clear acceleration compared with recent quarters. Moreover, the share of firms surpassing both EPS and revenue estimates is well above the historical average for this group.
Fed Rate Cut
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 China’s 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.
NVIDIA Touches $5-Trillion Market Cap
NVIDIA (NVDA - Free Report) is now the only company to have hit a $5-trillion market cap. NVIDIA is riding high on a deal spree. The company signed a partnership with U.S. Energy Department to build seven supercomputers using up to 10,000 Blackwell GPUs. NVDA is also partnering with Uber to produce 100,000 self-driving cars starting in 2027, and collaborating with Eli Lilly, Nokia, Cisco, T-Mobile, Amazon, Foxconn, and Caterpillar across AI, 6G and robotics.
Inside the Losing Gold Rally
Gold prices started to fall from late October. The gold bullion exchange-traded fund SPDR Gold Trust (GLD - Free Report) lost about 0.8% over the past week (as of Nov. 3, 2025) and retreated about 8.7% over the last 10 days.
The record-breaking rally in the precious metal finally hit a bump due to easing U.S.-China trade tensions, a stronger U.S. dollar, and technical signals suggesting that the metal had entered overbought territory, according to Bloomberg as quoted on Yahoo Finance.
Leveraged ETF Winners
Against this backdrop, below we highlight a few winning leveraged exchange-traded funds (ETFs) of October.
Tradr 2X Long NVTS Daily ETF (NVTX - Free Report) – Up 172.3% Over the past month
Navitas Semiconductor Corp (NVTS - Free Report) surged about 55% over the past one month. The Tradr 2X Long NVTS Daily ETF NVTX seeks daily investment results, before fees and expenses, that correspond to two times the daily performance of the common shares of Navitas Semiconductor Corp.
Direxion Daily AMD Bull 2X Shares (AMUU - Free Report) – Up 130.3% Over the past month
The Direxion Daily AMD Bull 2X Shares seek daily investment results, before fees and expenses, of 200% of the performance of the common shares of Advanced Micro Devices, Inc, which surged 55.5% in prices over the past month, thanks to a deal with OpenAI.
Direxion Daily MSCI South Korea Bull 3x Shares (KORU - Free Report) – Up 63.3% Over the past month
The Direxion Daily MSCI South Korea Bull 3x Shares seek the daily investment results, before fees and expenses, of 300% of the performance of the MSCI Korea 25/50 Index. The expense ratio of KORU is 1.32%.
Direxion Daily S&P Biotech Bull 3X Shares (LABU - Free Report) – Up 40% Over the past month
The Direxion Daily S&P Biotech Bull 3X Shares fund seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Select Industry Index. The fund charges 93 bps in fees.
GraniteShares 2x Long INTC Daily ETF (INTW - Free Report) – Up 37.9% Over the past month
The GraniteShares 2x Long INTC Daily ETF seeks daily investment results, before fees and expenses, of 2 times the daily percentage change of the common stock of Intel Corp. The fund charges 150 bps in fees.
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Best-Performing Leveraged ETFs of October
Wall Street put up a strong show in October. The S&P 500 has advanced about 1.9% over the past month, the Dow Jones has gained 1.7% and the Nasdaq Composite has surged about 4.2% (as of Oct. 31, 2025).
Key Events of October
Against this backdrop, below we highlight a few key economic and corporate events from the month of October.
Earnings Season
Of the 222 S&P 500 companies that have reported Q3 results so far, earnings are up 10.7% year over year on 8% higher revenues, with 83.8% surpassing EPS estimates and 77.9% topping revenue forecasts. Notably, 68.5% beat both metrics.
The Q3 earnings and revenue growth for these 222 companies show a clear acceleration compared with recent quarters. Moreover, the share of firms surpassing both EPS and revenue estimates is well above the historical average for this group.
Fed Rate Cut
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 China’s 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.
NVIDIA Touches $5-Trillion Market Cap
NVIDIA (NVDA - Free Report) is now the only company to have hit a $5-trillion market cap. NVIDIA is riding high on a deal spree. The company signed a partnership with U.S. Energy Department to build seven supercomputers using up to 10,000 Blackwell GPUs. NVDA is also partnering with Uber to produce 100,000 self-driving cars starting in 2027, and collaborating with Eli Lilly, Nokia, Cisco, T-Mobile, Amazon, Foxconn, and Caterpillar across AI, 6G and robotics.
Inside the Losing Gold Rally
Gold prices started to fall from late October. The gold bullion exchange-traded fund SPDR Gold Trust (GLD - Free Report) lost about 0.8% over the past week (as of Nov. 3, 2025) and retreated about 8.7% over the last 10 days.
The record-breaking rally in the precious metal finally hit a bump due to easing U.S.-China trade tensions, a stronger U.S. dollar, and technical signals suggesting that the metal had entered overbought territory, according to Bloomberg as quoted on Yahoo Finance.
Leveraged ETF Winners
Against this backdrop, below we highlight a few winning leveraged exchange-traded funds (ETFs) of October.
Tradr 2X Long NVTS Daily ETF (NVTX - Free Report) – Up 172.3% Over the past month
Navitas Semiconductor Corp (NVTS - Free Report) surged about 55% over the past one month. The Tradr 2X Long NVTS Daily ETF NVTX seeks daily investment results, before fees and expenses, that correspond to two times the daily performance of the common shares of Navitas Semiconductor Corp.
Direxion Daily AMD Bull 2X Shares (AMUU - Free Report) – Up 130.3% Over the past month
The Direxion Daily AMD Bull 2X Shares seek daily investment results, before fees and expenses, of 200% of the performance of the common shares of Advanced Micro Devices, Inc, which surged 55.5% in prices over the past month, thanks to a deal with OpenAI.
Direxion Daily MSCI South Korea Bull 3x Shares (KORU - Free Report) – Up 63.3% Over the past month
The Direxion Daily MSCI South Korea Bull 3x Shares seek the daily investment results, before fees and expenses, of 300% of the performance of the MSCI Korea 25/50 Index. The expense ratio of KORU is 1.32%.
Direxion Daily S&P Biotech Bull 3X Shares (LABU - Free Report) – Up 40% Over the past month
The Direxion Daily S&P Biotech Bull 3X Shares fund seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Select Industry Index. The fund charges 93 bps in fees.
GraniteShares 2x Long INTC Daily ETF (INTW - Free Report) – Up 37.9% Over the past month
The GraniteShares 2x Long INTC Daily ETF seeks daily investment results, before fees and expenses, of 2 times the daily percentage change of the common stock of Intel Corp. The fund charges 150 bps in fees.