Youtubeยท2025-10-10 23:00Market Overview - Major indices including S&P 500, NASDAQ 100, and Russell 2000 reached all-time highs earlier in the week but experienced significant declines on Friday, with the NASDAQ dropping 3.5% and the S&P 500 falling 2.7%, marking its largest single-day drop since April [1][2] Sector Performance - Only utilities and staples sectors posted gains, while the energy sector fell nearly 4% due to crude oil prices hitting multi-month lows [2] Geopolitical Impact - President Trump's social media post on Friday indicated trade hostility from China regarding new rare earth mineral policies, which contributed to the market sell-off [2][3] - Trump threatened to impose massive tariffs against China, with current tariffs at 30%, down from a peak of 145% earlier in the year [3] Gold Market - Gold prices surged to new all-time highs, surpassing $4,000 an ounce, with a year-to-date increase of over 50% [3][4] Company Highlights - Nvidia reached record highs after receiving approval to export several billion dollars worth of AI chips to the UAE, although it closed the week down 2.4% [4][5] - AMD was a standout performer, rising 30% after securing a deal with OpenAI to supply 6 gigawatts of GPUs, with deployment starting in the second half of 2026 [5] Upcoming Earnings - Major banks such as JP Morgan Chase, Goldman Sachs, and Wells Fargo are set to report earnings, along with TSMC, United Airlines, JB Hunt, and Dollar Tree [6]