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Even with Wednesday's decline, shares of Etsy are up about 30% year-to-date.
Key Takeaways

• Etsy shares fell Wednesday as the online marketplace announced CEO Josh Silverman plans to step down at the end of 2025, with President and Chief Growth Officer Kruti Patel Goyal set to take his place.
• Etsy reported quarterly earnings that topped analysts' estimates, though its gross merchandise sales declined.

Etsy (ETSY) shares dropped nearly 9% Wednesday afternoon as the online marketplace announced a shakeup in its leadership.

The company said CEO Josh Silverman plans to step down at the end of the year, and will be replaced by President and Chief Growth Officer Kruti Patel Goyal, who will also take a seat on the board. Silverman is expected to serve as executive chair through the end of 2026.

Silverman, who has been Etsy's CEO for eight years, said “this is the right time for me to hand over the leadership baton to the next generation.”

Why This News Is Significant

Etsy’s leadership change comes at a time when the company faces stiff competition and slower marketplace growth. Investors will likely be watching to see how Kruti Patel Goyal will navigate these challenges, along with tariff changes that have pressured some Etsy sellers' businesses.

Patel Goyal spent 10 years in various leadership roles at Etsy before becoming CEO of Etsy’s social e-commerce unit Depop in 2022. She returned to her current role at Etsy in April. 

The announcement comes as the company posted better-than-anticipated results for the third quarter. Etsy reported earnings per share of $0.63 on revenue that rose 2.4% year-over-year to $678 million. Both figures exceeded analysts' forecasts, though Etsy's gross merchandise sales declined 6.5% to $2.72 billion following the sale of music gear marketplace Reverb.

Even with Wednesday’s decline, shares of Etsy are up about 30% year-to-date.

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Fiserv shares have lost nearly two-thirds of their value since the start of the year.
Key Takeaways

• Fintech firm Fiserv's third-quarter results missed analysts' expectations, and the company lowered its 2025 guidance significantly.
• The Milwaukee-based company also announced a new CFO and board changes, as well as plans to move its listing to Nasdaq with a new ticker.

Fiserv shares are on pace for their worst day ever Wednesday after the fintech company released a disappointing earnings report and announced key leadership changes.

The Milwaukee-based company, which provides payments processing and digital banking services, reported adjusted earnings of $2.04 per share on revenue that grew 1% year-over-year to $5.26 billion. Analysts surveyed by Visible Alpha had expected $2.63 and $5.69 billion, respectively.

Fiserv also lowered its 2025 organic revenue growth target to a range of 3.5% to 4% and adjusted EPS target to $8.50-$8.60. Last quarter, it projected organic revenue growth of about 10% and adjusted EPS of $10.15 to $10.30.

Shares of Fiserv (FI) sank more than 40% on the news, hitting their lowest level since late 2018. The stock has lost nearly two-thirds of its value since the start of the year.

Why This News Matters to Investors

Fiserv is shaking up its leadership, board and stock listing under new CEO Mike Lyons, who took on the role in May. The third-quarter results and the lowered guidance underscore the challenges that the fintech company faces.

"Along with today's guidance reset, we have launched One Fiserv, an action plan focused on the pillars that have long distinguished the company, including great client service, value-added technology solutions and leading innovation," CEO Mike Lyons said. "Our current performance is not where we want it to be nor where our stakeholders expect it to be." 

A key part of that plan is Clover, Fiserv’s point-of-sale payments system, which the company hopes to use to build a leading small business operating platform. Along with its earnings, the company announced that it acquired part of TD Bank’s merchant processing business in Canada earlier this month, and that it signed a deal with the bank group's Merchant Solutions unit.

The company also named Paul Todd its new CFO, effective Friday. Todd previously served as CFO of Global Payments, and will succeed Robert Hau, "who will serve as a senior advisor through the first quarter of 2026 to support a smooth transition." Fiserv also also announced that Gordon Nixon, Céline Dufétel, and Gary Shedlin will replace three members of its board on Jan. 1, with Nixon becoming Independent Chairman.

Finally, Fiserv announced it intends to transfer its listing to the Nasdaq from the New York Stock Exchange on Nov. 11, and change its ticker symbol to "FISV" from the current "FI."

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Nvidia shares climbed to a fresh high Wednesday, pushing the chipmaker's market value over $5 trillion
Key Takeaways

• Major U.S. equites indexes climbed to fresh records Wednesday afternoon ahead of a Federal Reserve decision on interest rates. 
• Nvidia became the first company to reach a market capitalization of $5 trillion market, as its stock climbed to new highs.
• Fiserv shares plummeted after the financial tech firm posted weaker-than-expected results and announced executive changes.

Major U.S. equities indexes extended their record-setting run Wednesday afternoon ahead of an expected decision from the Federal Reserve to cut interest rates. The Dow, S&P 500, and Nasdaq all climbed to all-time highs.

AI investor favorite Nvidia (NVDA) helped push the indexes higher after an event where it highlighted a flurry of partnerships. The shares climbed to a fresh high that lifted the chipmaker's market capitalization above $5 trillion, making it the first company ever to achieve that milestone.

Caterpillar (CAT) shares surged to an all-time high as sales of AI power-generation equipment helped the maker of big machines beat earnings and revenue estimates.

Teradyne (TER) shares also took off after the semiconductor and robotics firm posted better-than-expected results and offered an upbeat outlook as it benefited from AI demand.

Fiserv (FI) was the worst-performing stock in the S&P 500 after the financial tech provider missed profit and sales estimates, slashed its outlook, and shook up its executive team.

Shares of Etsy (ETSY) tumbled after the online marketplace also announced a leadership change, with CEO Josh Silverman stepping down at the end of the year to be replaced by President and Chief Growth Officer Kruti Patel Goyal.

Hormel Foods (HRL) shares fell after the maker of Spam, Skippy peanut butter, and other packaged foods warned current-quarter results could be hurt by price pressures, bird flu, and a fire at a peanut butter production plant. 

Oil and gold futures advanced. The yield on the 10-year Treasury note was little changed. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Prices for most major cryptocurrencies were lower. 

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Caterpillar reported gains in its construction industries sector as well as in its other two units
Key Takeaways

• Caterpillar reported better-than-expected earnings and revenue on strong demand for equipment needed for artificial intelligence data centers.
• Caterpillar said even though tariff costs were at the high end of its outlook, the impact was offset by higher volumes.

Caterpillar (CAT) shares skyrocketed to an all-time high when the big farm and construction machines maker easily beat profit and sales expectations, with strong demand for data center power-generation equipment more than offsetting tariff headwinds.

The company reported third-quarter adjusted earnings per share of $4.95, about 10% above what analysts surveyed by Visible Alpha were looking for. Revenue increased 9.5% to $17.64 billion, $1 billion above forecasts.

Why This News Matters

All three of Caterpillar's business segments posted quarterly gains, but a key driver of its future growth may be an unexpected one for the construction equipment maker: AI data centers' demand for electricity. That helps explain why Caterpillar stock is one of the year's top performers.

All three of Caterpillar’s segments posted gains, but the Energy and Transportation unit was the big story, with sales jumping 17% to $8.4 billion. Within the energy segment, power generation sales surged 31%, easily outpacing other applications. Sales rose 7% to $6.76 billion in Caterpillar's Construction Industries segment, and increased 2% to $3.11 billion in Resource Industries.

In a call with analysts, CEO Joe Creed said the strong results this quarter were "driven by resilient demand and focused execution across our three primary segments," according to a transcript provided by AlphaSense. Creed also said tariff costs were at the top end of the company's estimate of $500 million to $600 million, but even with that headwind, “adjusted operating profit margin was slightly above our expectation, primarily due to better than expected sales volume."

Shares of Caterpillar were up 12% in midday trading on Wednesday and are up more than 60% in 2025. 

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Even with Wednesday's gains, Centene shares have lost about 40% of their value in 2025
Key Takeaways

• Centene shares soared Wednesday after the embattled health care services and insurance provider posted a surprise profit.
• A jump in demand for Medicare prescription drug plans and higher Medicaid premiums helped boost its results.

Centene (CNC) shares soared over 10% in recent trading after the health care services and insurance provider posted a surprise profit and lifted its outlook.

The company reported adjusted earnings per share of $0.50 for the third quarter, while analysts had anticipated a loss. Its revenue rose 18.2% year-over-year to $49.69 billion, also topping estimates compiled by Visible Alpha.

A jump in demand for Medicare prescription drug plans and higher Medicaid premiums helped boost Centene's results.

Why This News Is Significant

The better-than-expected results could mark a turning point for Centene, which saw its stock plunge earlier this year amid worries about its plans offered on the Affordable Care Act exchanges.

Looking ahead, Centene said it now sees full-year adjusted EPS of at least $2, compared to its earlier estimate of $1.75.

CEO Sarah London said the results and higher outlook “demonstrate tangible progress against the near-term milestones we laid out for investors in July."

Shares of Centene had plunged in July after the company withdrew its full-year outlook, citing worries about its plans offered on the Affordable Care Act exchanges. The stock has yet to recover to its levels before that drop. Even with today’s gains, shares of Centene have lost about 40% of their value in 2025.

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Meta shares have added close to 30% of their value in 2025 so far
Key Takeaways

• Meta is set to release its third-quarter earnings report after the closing bell today, with Wall Street analysts widely bullish on the social media giant's stock heading into the results. 
• Meta is seen reporting record revenues on gains in its ad businesses, and investors will be eager to hear updates on the company's AI plans.

Meta is set to release its third-quarter earnings report after the closing bell Wednesday, with investors likely to be watching closely for more signs that its AI spending is paying off.

Compared to many of its big tech peers—some of which are also set to report this week—Meta Platforms (META) has been relatively successful in convincing investors to back its AI goals so far, though their continued support could depend on the company's ability to show strong revenue gains in tonight's report.

The Facebook, Instagram, and WhatsApp owner is seen reporting earning of $6.70 per share on record revenue of $49.55 billion, boosted by gains in its ad businesses, thanks in part to AI-driven improvements in its offerings for advertisers.

Why This Matters to Investors

Wednesday's earnings report represent Meta's next big test to show it's made the revenue gains to justify its big spending to build out AI capacity.

The outcome of tonight's report could drive a big move in Meta's stock, with options pricing suggesting traders anticipate it could swing 6% in either direction by the end of this week following the results.

Shares of Meta have climbed nearly 30% in 2025 so far, and Wall Street analysts believe that the social media giant's stock has further room to rise. The mean target of analysts surveyed by Visible Alpha near $873 would suggest roughly 16% upside from where the stock was trading at midday Wednesday.

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Americans are growing more concerned about high prices.
Key Takeaways

• Consumers expect inflation to get worse, according to surveys, but many economists and Fed officials are optimistic that it will ease.
• A relatively tame inflation report in September gave ammunition to inflation optimists, but some of its details pointed to sustained upward pressure on prices.
  
• Inflation in September was held in check by a surprisingly low increase in a key housing cost measure, which is unlikely to be repeated, while core goods prices rose at a much faster rate.
  

Consumers fear that the persistently high price increases plaguing their budgets may not get better anytime soon, according to a recent report.

They are growing more worried about inflation accelerating, according to a survey by The Conference Board released Tuesday. They also told the independent economics research group that they expect inflation to hit 5.9% a year from now, up from the expectation of 5.8% in September.

That's in contrast to Fed officials, who predict inflation will fall over the next year, and are confident enough in that forecast that they're expected to cut the central bank's key interest rate this week.

"Consumers’ write-in responses were led by references to prices and inflation, which continued to be the main topic influencing consumers’ views of the economy," Stephanie Guichard, senior economist of global indicators at The Conference Board, wrote in a commentary.

Data Backs Inflation Concerns

Indeed, last week's inflation report showed it stayed high in September, with the CPI rising 3% over the year from a 2.9% annual increase in August, according to the BLS. That's above the Fed's 2% target, but less of an increase than forecasters had expected. What's more, some economists scrutinizing the CPI's details found evidence that consumers' anxiety about price increases is well founded. 

What This Means For The Economy

An inflation flare up in the coming months would not only hurt consumers, it could derail the Federal Reserve's plans to support the labor market by cutting interest rates.

John Ryding, an economist at Brean Capital, noted that September's inflation would have been much higher if not for a surprising drop in a housing component called Owners Equivalent Rent. OER, an arcane piece of the CPI, aims to measure home ownership costs by asking homeowners how much they would charge for their house if they rented it out instead of living there. OER rose 0.1% over the month in September, a much slower pace than the 0.4% increase in August.

Economists at Deutsche Bank said the sharp dip in OER was likely "more noise than signal."

At the same time, a different CPI component increased at a worrisome pace. The price of "core" goods, that is, the prices of material products rather than services, excluding food and energy, rose 1.5% over the past year. Core goods prices typically decrease when inflation is stable, keeping the overall reading in check even as other prices rose.

Not coincidentally, core goods is the category most affected by tariffs, which President Donald Trump has raised dramatically this year in an effort to reshape global trade in favor of the U.S. Merchants have responded to the import taxes by gradually raising prices, according to surveys of business owners. Core goods prices have been rising since April, when Trump announced his sweeping "Liberation Day" tariffs.

Should The Fed Ease Up On Inflation?

All this has some economists questioning why officials at the Federal Reserve has signaled its determination to continue to cut the central bank's benchmark interest rate. Until September, the Fed had kept rates flat, keeping upward pressure on borrowing costs for short-term loans in an attempt to lower inflation to a 2% annual rate. But in September, the Fed cut the fed funds rate by a quarter point, and financial markets widely expect more cuts Wednesday and again in December, as the Fed tries to boost the faltering job market.

"The makings of a return to 2% inflation do not yet appear to be on the cards," Ryding wrote.

Members of the Federal Reserve's policy committee have said they believe tariffs will only push up inflation temporarily, and that it will gradually subside next year. Many economists agree.

"A reasonable base case is that the effects on inflation will be relatively short lived—a one-time shift in the price level," Federal Reserve ChairPowell said at a press conference last month.

Powell acknowledged a risk that inflation will prove stickier, a possibility that recent data has reinforced.

"We think that the underlying inflation trend remained essentially unchanged in September and that tariffs continued to exert upward pressure on core goods prices," David Seif, chief economist at Nomura, wrote in a commentary. "Looking ahead, we see upside risks to the inflation outlook, both in the near and medium term."

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Shares of Google parent Alphabet have added over 40% of their value in 2025.
Key Takeaways

• Google parent Alphabet is scheduled to report its quarterly results after the closing bell Wednesday, with Wall Street analysts expecting growing revenues.
• Options pricing suggests traders expect Alphabet's stock could move about 6% in either direction in the days after its results.

Google parent Alphabet is scheduled to report third-quarter results after the bell on Wednesday, with traders betting on a sizable move in the tech giant's stock.

Options pricing suggests traders expect Alphabet (GOOGL) stock could move about 6% in either direction by the end of this week. A move of that size off Tuesday's close near $268 would push shares to about $283 at the high end, in what would represent a new all-time high for the stock, or drag them down to about $252, where they were last week. 

Alphabet shares posted modest gains in the range of 1% to 3% in the days after posting its results in three of the four past quarters. However, they tumbled 7% the day after the company released its fourth-quarter results in February, when the tech giant announced big spending plans for this year.

Why This Matters for Investors

As with many of its Magnificent 7 peers due to report this week, investors will be watching for Alphabet's progress with its AI goals, and anticipation of an abnormally large move in its stock could reflect either extreme optimism or pessimism heading into the earnings.

Shares of Alphabet have added over 40% of their value in 2025, making it one of the best-performing Magnificent 7 stocks for the year so far, behind AI investor favorite Nvidia (NVDA).

Still, Wall Street analysts are overwhelmingly bullish, with 12 of the 15 analysts with current ratings compiled by Visible Alpha calling it a "buy" compared to three neutral ratings, though the stock has already blown past their mean target of $254 with its recent gains.

The tech giant is projected to report earnings per share of $2.26 for the third quarter on a 13% year-over-year jump in revenue to $99.9 billion, according to consensus estimates.

Source: TradingView.com
Key Takeaways

• Nvidia became the first company to ever achieve a market capitalization of $5 trillion as its stock surged in early trading Wednesday.
• The stock is adding to big gains posted Tuesday after CEO Jensen Huang delivered a keynote address at Nvidia's developers conference, highlighting the company's latest AI products and announcing several deals.
• Nvidia shares on Tuesday broke out from a rising wedge on the highest trading volume since late May, signaling buying conviction behind the jump.
• The measured move technique projects a potential upside target of $220. Investors should also watch crucial support levels on Nvidia's chart around $185 and $165.

Nvidia (NVDA) became the first company to ever achieve a market capitalization of $5 trillion as its stock surged in early trading Wednesday.

Shares were up 4.5% at $210 recently, after gaining 5% yesterday following a keynote address from CEO Jensen Huang at Nvidia's developers conference in Washington, D.C. where he highlighted the companyt's latest AI products and announced several deals.

The chipmaker unveiled a $1 billion investment in Nokia (NOK), as well as a new strategic partnership with the Finnish tech firm in an effort to expand its AI infrastructure push. Nvidia also announced that it will collaborate with Oracle (ORCL) to build AI supercomputers for the U.S. Department of Energy and collaborate with Palantir Technologies (PLTR) on the development of an integrated AI technology stack.

Nvidia shares have gained more than 50% since the start of the year as investors have piled into the stock amid strong demand for AI chips and optimism about the company’s ongoing growth prospects. The company's $5 trillion market cap is substantially higher than the next companies on the list of the world's most valuable—Microsoft (MSFT) and Apple (AAPL) have market caps around $4 trillion.

Below, we break down the technicals on Nvidia’s chart and identify crucial price levels to monitor.

Rising Wedge Breakout

Nvidia shares broke out from a rising wedge on Tuesday on the highest trading volume since late May, signaling buying conviction behind the move.

Although chart watchers often associate this pattern as bearish, it can also indicate a bullish continuation rather than a reversal if it forms during a strong uptrend, as is the case on Nvidia’s chart.

Meanwhile, yesterday’s breakout coincided with the relative strength index approaching overbought levels, though the indicator sits below its July peak, giving the stock further room to move into price discovery mode.

Let’s use technical analysis to project a potential upside target on Nvidia’s chart and also identify two crucial support levels worth watching.

Measured Move Upside Target

Investors can project a potential upside target by using the measured move technique, a trading tool that analyzes well-known chart patterns to forecast future price movements.

When applying the analysis to the chipmaker’s chart, we measure the distance between the rising wedge’s two upward sloping trendlines near their widest section and add that amount to the pattern’s top trendline.

This projects a target of $220 ($25 + $195), indicating the price could climb to around this level before encountering potential resistance and entering a period of consolidation.

Crucial Support Levels Worth Watching

The first support level to watch sits around $185. This area could attract buying interest near a range of corresponding price action on the chart stretching back to the start of the rising wedge pattern in early August.

Finally, a deeper retracement could see Nvidia shares test lower support at the $165 level. Investors may look for entry points in this location near a trendline connecting last month’s low with the end of a brief pullback in late July.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.

News of the day for Oct. 29, 2025

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Federal Reserve Chairman Jerome Powell is scheduled to speak this afternoon after the central bank announces its decision on interest rates.

Stock futures are rising this morning after major indexes hit record highs yesterday for the third straight session on the strength of a tech sector rally; the Federal Reserve is widely expected to announce a cut in interest rates at the end of its two-day policy meeting this afternoon; Nvidia (NVDA) shares continue surging after the chipmaker announced a flurry of new deals yesterday; three Magnificent Seven members—Microsoft (MSFT), Google (GOOG, GOOGL) and Meta (META)—are scheduled to release quarterly results later today; and shares of Dow component Caterpillar (CAT) are higher after a strong earnings report. Here's what you need to know today.

1. Major Indexes on Pace to Add to Record Highs

Stock futures are slightly higher as investors look ahead to the Fed’s interest rate decision later today and another big day in tech earnings. Major indexes are coming off of a third straight session of record highs, led by Nvidia’s (NVDA) surge to a new all-time high. Futures tied to the Dow Jones industrial Average were up 0.1% recently, while those linked to the benchmark S&P 500 and the tech-heavy Nasdaq added 0.3% and 0.4%, respectively. Gold futures were up 1.2% at $4,030 an ounce, rebounding from several days of declines, while bitcoin was at $113,200, little changed from yesterday afternoon. The yield on the 10-year Treasury, which can affect borrowing costs on all sorts of consumer loans, was a tick higher at 3.99%.

2. Federal Reserve Expected to Cut Interest Rates for Second Straight Month

The Federal Reserve is scheduled to announce its highly anticipated interest rate decision at 2 p.m. ET. The central bank is widely expected to cut the federal funds rate for its second straight meeting, dropping the influential rate by a quarter percentage point to a range of 3.75%-4%. Investors will be watching how members of the Federal Open Market Committee vote on the decision after a loyalist to President Donald Trump voted for steeper rate reductions at the September meeting.  Market watchers will also be focused on comments from Fed Chair Jerome Powell, who is due to speak at 2: 30 p.m. ET and is expected to talk about the outlook for inflation, the labor market and the economy broadly, potentially providing insight on the path for interest rates.

3. Nvidia Poised to Hit $5 Trillion Market Cap

Nvidia (NVDA) shares are rising in premarket trading after hitting a record high Tuesday on investor optimism over a string of new deals for the chipmaker. At an Nvidia developer conference in Washington, D.C., CEO Jensen Huang announced a $1 billion investment in Finnish tech firm Nokia (NOK), which rose more than 20% on the news. Nvidia also announced new deals with Oracle (ORCL) and Palantir Technologies (PLTR) as the chipmaker highlighted its progress on AI development. Nvidia shares were up more than 3% ahead of the opening bell after rising 5% yesterday, putting the world’s most valuable company on a path to open above the $5 trillion market capitalization level on Wednesday.

4. Microsoft, Google, Meta Earnings on Deck as Tech Stocks Drive Markets Higher

A trio of Magnificent Seven earnings reports are due today as investor optimism about technology stocks continues powering a broader market rally. Microsoft (MSFT), Google (GOOG, GOOGL) and Meta (META) are all scheduled to drop their quarterly results after the closing bell. Microsoft is expected to show an 11% increase in quarterly adjusted earnings amid increased infrastructure spending and Wall Street optimism over its position in the AI race. For Google-parent Alphabet, analysts see near-term momentum on AI for the search giant. Facebook-owner Meta is expected to hit nearly $50 billion in quarterly revenue on surging ad sales, while investors will be listening for details on the company’s efforts to acquire AI talent. Shares of Alphabet, Microsoft and Meta were up slightly in premarket trading.

5. Caterpillar Shares Rise on Strong Earnings Report

Caterpillar (CAT) shares are surging ahead of the opening bell after the heavy-equipment maker posted better-than-expected quarterly results, after missing on earnings in its prior two quarters. Cat’s third-quarter revenue rose 10% to $17.6 billion, higher than the $16.6 billion average estimate of analysts tracked by Visible Alpha. The company posted adjusted earnings per share of $4.95, down from the year-ago quarter but well above the consensus estimates of $4.51. Cat shares were up nearly 5% in premarket trading. Coming into today's session, the stock had gained 45% so far in 2025 and was trailing only Nvidia among the top gainers in the Dow Jones Industrial Average.