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The Federal Reserve announced a 0.25% interest rate cut to as low as 3.75% yesterday.
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President Trump has concluded a trade deal with China to lower U.S. tariffs in exchange for soybean imports and rare earth magnet exports.
- Millions of Americans keep making 5 basic mistakes with insurance and keep overpaying every year, sometimes by thousands of dollars. But, it’s easy to avoid if you know how.
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Oct 30, 2025 9:49 AM
Live
MasterCard (NYSE: MA) beat by six cents this morning, reporting $4.38 per share for its Q3 profit. Revenue for the quarter edged out analyst forecasts at $8.6 billion. CEO Michael Miebach noted that MasterCard delivered 17% year over year revenue growth, “or 15% on a currency-neutral basis, driven by healthy consumer and business spending.”
MasterCard stock is down nearly 2% despite the good news.
This article will be updated throughout the day, so check back often for more daily updates.
As expected, the Federal Open Market Committee (FOMC) announced a 0.25% reduction in its target interest rate yesterday, to a range of from 3.75% to 4% — but the stock market reacted almost not at all. The Vanguard S&P 500 ETF (NYSEMKT: VOO) gained less than 0.1% yesterday, and it’s down a sizeable 0.5% in early trading this morning.
This is despite some arguably good news out of Asia, where President Trump has concluded a new trade deal with Beijing that should see the threat of 100% additional tariffs removed, tariffs in punishment for China’s role in the fentanyl trade reduced to 10%, Chinese restrictions on rare earth magnet exports postponed by a year, and Chinese purchases of U.S. soybeans resumed.
This sounds like good news for American companies that rely on rare earth magnets to build their products — good news too for American farmers. So why aren’t investors happier about it — especially after also getting the interest rate cut they’ve been clamoring for?
Magnificent 7 Earnings
Earnings seem part of the answer. Three of the biggest S&P 500 names involved in both tech and AI have reported profits already, but their results seem somewhat mixed.
Alphabet (Nasdaq: GOOG) had arguably the best news. Announcing Q3 earnings last night, the tech giant “beat” by 58 cents with a $2.87 per share profit on sales of $102.4 billion — well ahead of the $99.8 billion forecast.
Meta Platforms (Nasdaq: META) also reported last night, beating with $51.2 billion in revenue, but reporting a big drop in profit to just $1.05 per share after taking a nearly $16 billion charge to earnings. Meta also guided to revenue not appreciably greater than the $57.3 billion Wall Street was already expecting in Q4.
Finally, Microsoft (Nasdaq: MSFT) announced it beat earnings by 47 cents, reporting $4.13 per share in adjusted earnings and a GAAP profit of $3.72 — up 13% year over year. Revenue also exceeded expectations at a triply-lucky $77.7 billion.
In early trading, Alphabet stock is up more than 2%, but Microsoft shares are trading down more than 2%, and Meta’s big negative earnings surprise is subtracting more than 12% from that stock.