Stock Market Newsยท2025-10-29 14:10Economic Developments - The Bank of Canada (BOC) lowered its target for the overnight interest rate by 25 basis points to 2.25%, marking the second consecutive rate cut due to ongoing economic weakness and the impact of U.S. trade policies [2][10] - The BOC revised its 2025 growth forecast down to 1.2% from 1.8%, with 2026 growth projected at 1.1% and 2027 at 1.6%, primarily due to tariffs and weaker demand [3][10] - The BOC anticipates annualized Q3 GDP growth at 0.5% and Q4 at 1.0%, with inflation expected to remain around 2% despite core inflation measures being sticky around 3% [4][3] Corporate News - Nvidia (NVDA) became the world's first $5 trillion company, with shares surging over 5% due to strong demand for AI chips and significant orders totaling $500 billion [5][10] - Korean Air announced a purchase of 103 new Boeing (BA) aircraft valued at $36.2 billion and a separate deal for GE Aerospace (GE) engines worth $13.7 billion, alongside selecting L3Harris Technologies (LHX) for new aircraft development [6][10] - Caterpillar (CAT) shares rallied by 12%, marking the largest gain since 2009, while Fiserv (FI) experienced a record drop of 44% at market open [7][10] Market Sentiment - Kraft Heinz (KHC) CEO expressed concerns over "one of the worst U.S. consumer sentiments in decades," indicating broader economic anxieties affecting consumer spending [7][10]