Today's market moves are coming in — I'll pull the top business headlines for you.
Top Business / Market Headlines — Friday, October 30, 2026:
1. Macro / Central Banks in Focus Today
•Bank of Japan Policy Decision Due Today: Governor Kazuo Ueda will announce whether the BOJ will further normalize policy rates or maintain accommodation. The decision was scheduled for Friday, October 30 along with Japanese unemployment data. Overnight, the BOJ kept interest rates steady as largely expected but repeated its pledge to continue increasing borrowing costs if the economy moves in line with projections. The yen weakened further after Governor Ueda said he doesn't think there's a risk of the bank falling behind the curve.
•US Core PCE Inflation Gauge Due Today: The Bureau of Economic Analysis releases the Federal Reserve’s preferred inflation gauge, providing vital confirmation on whether disinflation resumed in September.
•Fed Held Rates - Market Context: At its October 28 meeting, the Federal Reserve held its benchmark rate at 3.75% to 4.00% as widely expected in a 10-2 vote while upgrading its economic assessment to “strong”. US stock futures were mixed overnight late Wednesday after the hold, with Dow futures gaining 0.32% while S&P 500 fell 0.50% and Nasdaq-100 fell 1.60%. At the close Oct 28, the Dow rose 97.53 points (0.19%) to 52,475, the S&P 500 gained 0.28% to 7,744, and the Nasdaq Composite rose 0.27% to 26,550.
•Other Central Banks This Week: Week in Focus included FOMC, BoC, RBNZ, ECB, BoJ Policy Decisions - WED Fed/BOC/RBNZ, THU ECB, FRI BoJ.
2. Trade & Geopolitics De-Escalation
•Trump-Xi Summit Delivers Major De-Escalation: US President Trump said after meeting with Chinese leader Xi Jinping that the US would cut tariffs on Chinese goods, lowering fentanyl tariffs to 10% from 20% in exchange for cooperation cracking down on chemical exports. Trump said China will purchase “tremendous” amounts of American soybeans.
•China Suspends Rare Earth Export Controls: China announced it will suspend the export control measures announced October 9th for one year while it studies the plan. China said the US will cancel the 10% fentanyl tariffs and suspend the 24% reciprocal tariffs for an additional year.
•US-South Korea Breakthrough Deal: The US and South Korea said they agreed to terms on a trade deal. South Korea’s $350 billion investment will include $200 billion in cash installments and $150 billion in shipbuilding cooperation. The deal will lower US tariffs on most South Korean goods, including autos, from 25% to 15%.
3. Earnings - Big Tech Divergence Dominates
•Big Tech AI Spending Spooks Investors: Microsoft shares fell nearly 4% in after-hours trading despite beating Wall Street projections, as the company reported substantial cloud and AI infrastructure spending. CEO said demand is so great Microsoft will boost AI capacity by over 80% this year.
•Meta Drops: Meta reported record Q3 revenue but warned capital expenditures around AI will likely accelerate significantly next year, sending stock down more than 7% after hours, plus a surprise one-time $15.9 billion tax charge.
•Google/Alphabet Contrasts - Soars: Google’s parent company reported a 16% surge in Q3 revenue, shares jumped 7% after hours, contrasting sharply with Microsoft and Meta’s reactions. Earlier headlines flagged: Google Misses Estimates as Growth in Search Revenue Slows vs Microsoft Quarterly Profit Soars as Cloud Growth Accelerates.
•Other Tech Earnings Today-Week: Amazon stock drops on Wall Street miss despite biggest cloud growth in years. Earnings scheduled this week: Friday, Oct. 30: AbbVie, ExxonMobil and also XOM, CVX, BP.
•Samsung / Hyundai Mixed: Samsung Electronics posted solid Q3 net profit as its flagship semiconductor business bounced back strongly, supported by the AI boom. Hyundai Motor posted weaker Q3 earnings dented by US tariffs.
4. European & Other Corporate Headlines
•Shell Beats: Shell beat analyst earnings expectations but missed on revenue in its Q3 2026 results, released October 30, 2026 and beat Q3 profit forecasts helped by strong gas division results, maintaining $3.5 billion buyback.
•VW / Auto Struggles: An expensive course correction at subsidiary Porsche dealt Volkswagen a hefty blow in Q3, resulting in a €1.3 billion operating loss.
•Banks Strong: Standard Chartered, Societe Generale and Credit Agricole all reported Q3 net profit rises. AB InBev's Alternative Drinks Help Steady Slide in Beer Volumes was also among Dow Jones top headlines.
•Puma Results Today: PUMA SE's investor-relations page lists Q3 2026 results for October 30, 2026 with webcast featuring CEO Arthur Höld and CFO Mark Langer.
•Colgate-Palmolive: Bloomberg options data indicate options are pricing a 2.9% price move for earnings scheduled for October 30, 2026, before the market opens.
5. UK Business Headlines (Reuters Roundup for Oct 30)
•British Business - Oct 30: The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories.
•The Bank of England is poised to cut interest rates for the sixth time in just over a year amid rising unemployment
•Santander UK has urged government to intervene in 11 billion pounds ($14.76 billion) car finance compensation scheme
•The Federal Reserve halts bond sales as the Bank of England faces pressure to do the same
•Equinix says it will pump 4 billion pounds ($5.37 billion) into the UK with a new data centre
•Ofgem has unveiled a new relief scheme poised to write off as much as 500 million pounds in household energy bill debt
•Financial Times - Oct 30: EU to probe sale of Anglo's nickel business to China-backed MMG, Porsche-Piëch family explores investing in 6 billion euros VW diesel engine unit, Keir Starmer refuses to stand by manifesto tax pledge, Rachel Reeves looks at early scrapping of windfall tax on UK oil and gas sector
6. Other Market Movers Today
•OpenAI IPO Plans: OpenAI is laying the groundwork for an IPO that could value the company at up to $1 trillion, considering filing as soon as second half of 2026 and raising $60 billion at the low end
•Dollar: Dollar's Rate-Fueled Rally Set to Ride Out US Midterm Gridlock — story appeared on bloomberg.com 2026-10-30 00:35:03
•US Shutdown: The financial pain from the US government shutdown is spreading and legislative options narrowing
•Private Megadeals: Bloomberg and two Wall Street firms agree to pay Trump’s Truth Social for faster access to president's posts, sources say — Truth Social has signed up Bloomberg and two Wall Street firms for faster access which it sells for up to $100,000 a month