Zhong Guo Ji Jin Bao·2025-10-28 16:15Group 1: Market Overview - The US stock market continued to rise on October 28, with Wall Street awaiting earnings reports from major tech companies and the start of a two-day Federal Reserve meeting [2][5] - The Dow Jones and Nasdaq saw slight increases, while the S&P 500 approached a flat line [3] - Analysts are focusing on the upcoming earnings from Microsoft, Alphabet, Meta, Amazon, and Apple, which collectively account for about a quarter of the S&P 500's weight [4] Group 2: Federal Reserve Meeting - The Federal Reserve's two-day meeting began, with expectations of a second interest rate cut this year [5] - Traders are looking for signals from Chairman Powell regarding a potential rate cut in December, amid concerns about a weakening labor market [5] Group 3: Nvidia's Investment in Nokia - Nvidia announced a $1 billion equity investment in Nokia, marking a significant endorsement of Nokia's shift towards an AI strategy [6] - Nokia will issue approximately 166 million new shares at $6.01 each, resulting in Nvidia holding a 2.9% stake in the company [6] - Nvidia's chips will be used to accelerate Nokia's software for 5G and 6G networks, while Nvidia will explore using Nokia's data center technology in its AI infrastructure [6] Group 4: Nokia's Business Transformation - Nokia, known for its mobile network equipment, is expanding into the data center business, benefiting from the growing demand for computing power driven by AI [7] - The company exceeded Wall Street expectations in the last quarter and acquired Infinera for $2.3 billion earlier this year to enhance its AI data center network products [7] - CEO Pekka Lundmark is leading a significant transformation, providing a full range of communication equipment from 5G RF devices to fiber optic cables [7] Group 5: Stock Market Reaction - Following the announcement of Nvidia's investment, Nokia's stock surged nearly 20% [8]