The Last Trading Session on the Stock Markets: A Recap
The stock markets closed on October 29, 2026, with a mixed performance across major indices. In Canada, the S&P/TSX composite index rose by 30.84 points to 36,295.93, driven by strength in bank stocks. In contrast, the US stock markets experienced losses, with the Dow Jones industrial average down 105.83 points at 52,369.27, the S&P 500 index down 20.74 points at 7,723.24, and the Nasdaq composite down 331.14 points at 26,218.71.
Global Market Trends
The recent surge in tech spending, particularly in artificial intelligence (AI), has been a significant driver of market activity. Amazon, Microsoft, Google, and Meta have announced plans to spend over $720 billion on data centers and other capital expenses this year, a record high. This trend is expected to continue, with these companies planning to spend even more next year. The AI boom has contributed to the resilience of the US economy, which has been experiencing a period of growth in almost a decade.
Impact on AI Semiconductor Companies
The AI high-point theory and the stock market recession have led to concerns among domestic AI semiconductor companies. Puriosa AI, a leading player in the industry, is planning to adjust its listing plans due to the judgment that the actual profit from early listing is not significant. The company has raised over KRW mid-800 billion through its pre-IPO, with the National Growth Fund contributing over a third of the total funds. DeepEx, another AI semiconductor company, is also expected to list in the second half of next year.
Crypto Market Developments
The crypto market has continued to evolve, with tokenized equities trading outside regular US market hours and weekend trading in crypto derivatives growing rapidly. This has resulted in a market that remains active even when traditional financial markets are closed. Recent research from Binance highlights the growing demand for assets that can be accessed around the clock, as well as the increasing concentration of stablecoin liquidity.
Conclusion
The last trading session on the stock markets saw a mixed performance, with Canadian markets rising and US markets experiencing losses. The ongoing trend of increased tech spending, particularly in AI, is expected to continue, with significant implications for the global economy. Meanwhile, the crypto market continues to evolve, with a growing demand for continuous trading and increased liquidity in stablecoins.
