AJ Bell Money & Markets The latest from the US market as big names like Microsoft and Alphabet post earnings. Plus, US interest rates cut, Elon Musk’s pay package and the Royal Mint on gold
Oct 31, 2025
Martin Gamble, AJ Bell shares and markets writer, shares insights on the latest US earnings from major players like Microsoft and Alphabet, highlighting AI's impact on market reactions. He also discusses the Federal Reserve's rate cut and its implications. Stuart O'Reilly from the Royal Mint dives into the booming gold market, discussing drivers behind current prices and various investment options like coins and ETFs. The conversation touches on the relationship between silver and AI, alongside the changing landscape of consumer behavior in precious metals.
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Fed Cuts But Keeps Options Open
- The Fed cut rates by 25bps but signalled future cuts are not guaranteed, which lifted uncertainty in markets.
- Powell also announced the end of QT on December 1st, leaving the balance sheet at current levels.
AI Spending Tempered Tech Rallies
- Big US tech beats still triggered mixed market reactions because firms flagged huge accelerated AI spending plans.
- Investors want clearer evidence of returns before rewarding massive AI investment commitments.
Nvidia Fueled AI Valuation Surge
- Nvidia soared to about $5tn market cap on continued chip and data-centre deal momentum, fueling massive investor enthusiasm.
- The AI ecosystem of deals and investments is amplifying valuations and expectations across the sector.