تفسیر بازار روزانه Amillex: فصل درآمدها، احساسات بازار را بالا میبرد - سهام ایالات متحده و طلا با هم افزایش مییابند؛ LVMH با عبور نقره از $53، باعث افزایش قیمت در اروپا میشود
October 16, 2025 — U.S. stocks opened higher across the board on Wednesday, with the S&P 500 up 1%. In a rare move, both risk and safe-haven assets rallied: spot gold surged past $4,200 to a record high, while silver reclaimed the $53 level. European luxury stocks soared, led by LVMH’s 13% jump after strong earnings. Market sentiment improved significantly as trade tensions eased temporarily.
U.S. Market: Banks and Tech Lead, Chinese ADRs Rally
The S&P 500 rose 1%, Dow Jones +0.23%, and Nasdaq +0.96%, recovering part of the prior day’s losses.
Leading sectors: Financials (Bank of America +3%) and semiconductors (NVIDIA +2.6%, TSMC +3%).
Bank of America: Q3 earnings beat expectations, with resilient net interest margins boosting confidence.
Chinese ADRs: The Nasdaq Golden Dragon China Index rose 1.5%, with Alibaba +2%, Baidu +3%.
محرکهای کلیدی:
Earnings season kicks off strong: Results from JPMorgan and Bank of America confirm steady consumer and credit demand.
Policy tailwinds: Fed Chair Powell hinted at a possible 25 bps rate cut in October, easing pressure on high-valuation assets.
Precious Metals: Gold Surges Past $4,200; Silver Tightens on Supply Constraints
Spot gold climbed 1.4% above $4,200, up nearly 60% year-to-date.
Spot silver gained 3% to $53, nearing its 1980 all-time high.
Core Drivers:
Rate-cut expectations firming: The Fed’s dot plot signals two more cuts this year, pushing real yields lower and supporting gold.
Silver supply squeeze: London market liquidity remains thin, sparking short-covering; solar demand now accounts for 35% of global silver use.
Lingering hedging demand: Trade-related rhetoric from Trump (threatening new tariffs on China) prompted safe-haven inflows.
European Markets: Luxury and Tech Lead the Charge
The Euro Stoxx 50 gained 1.27%, and France’s CAC 40 jumped 2%.
LVMH +13%: Q3 revenue unexpectedly rose 1%, with Sephora’s strong performance offsetting weakness in China.
ASML +3.8%: EUV lithography orders hit their highest level since Q4 2023, driven by AI-related capital spending.
Investment logic: European consumption proved more resilient than expected, with luxury and tech forming a dual growth engine.
Crypto & Bonds: Bitcoin Rebounds, Treasury Yields Hit Bottom
Bitcoin +1.35% to $113,000; Ethereum +5.18% to $4,200.
U.S. 2-year Treasury yield fell to its lowest level since 2022 as rate-cut trades persisted.
