Apple(US:AAPL) Bloomberg Television·2025-10-20 20:03Market Trends & Earnings Season - U S E-reports mostly beat expectations [2] - Approximately 85% of S&P 500 companies have beaten profit estimates, fueling the market rally [4][6] - The market is experiencing a strong rally, with the Dow Jones Industrial Average up by approximately 540 points [3] - The S&P 500 is up by about 78 points, the NASDAQ Composite is rallying by roughly 340 points, and the Russell 2000 is up nearly 2% [4] - The first right-hand shows an average of 16% growth, well ahead of the 85% expectation coming in [7] Company Performance & Stocks - Apple hit a record high after Loop Capital upgraded it to buy, driven by positive iPhone trends [2][4][36] - Apple's market capitalization reached $39 trillion [5][48][66] - Cleveland Cliffs' stock is up more than 18% after a quarterly beat and the discovery of two sites with the potential to produce rare earth minerals [50] - Rare earth sector is on fire [3] - One mining company's stock is up 15% [63] Credit Concerns & Economic Outlook - There are ongoing discussions about credit concerns, particularly regarding delinquencies in car loans [2][11] - The 10-year at 4% is still relatively elevated, indicating relatively low supply and strong yield [19] - Private credit firms like Apollo and KKR are down approximately 20% since July [23][24] - The longest government shutdown is 34 days, which has some modest effect [15] - Gold is rallying, up better than 2%, near a record story at $4348 per ounce [4]