On Friday, Eastern Time, the three major indices showed divergent trends. The Dow Jones Industrial Average continued its downward trend, marking five consecutive days of decline. The S&P 500 Index essentially closed flat, while the Nasdaq Composite once surged by more than 1% during the session, setting a new historical high.

As of the close, the Dow Jones Industrial Average fell by 0.61%, to 42,114.40 points; the S&P 500 Index dipped by 0.03%, to 5,808.12 points; and the Nasdaq Composite rose by 0.56%, to 18,518.61 points.

For the week, the S&P 500 Index accumulated a decline of 0.96%, and the Dow Jones Industrial Average fell by 2.68%, both ending their streak of six consecutive weeks of gains. The Nasdaq Composite, however, rose by 0.16% for the week, marking its seventh consecutive week of gains.

The 10-year U.S. Treasury yield edged up slightly on Friday to 4.232%.

To date, over one-third of the S&P 500 Index constituent companies have reported their third-quarter earnings. Data from FactSet shows that approximately 75% of these companies have exceeded Wall Street's earnings expectations, compared to a five-year average of 77%.

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Sylvia Jablonski, CEO and Chief Investment Officer of Defiance ETFs, stated: "Given the prolonged high interest rates, U.S. corporations have performed exceptionally well."

Popular Stock Performance

Large-cap technology stocks collectively rose, with Apple up by 0.36%, Nvidia up by 0.80%, Microsoft up by 0.81%, Google up by 1.57%, Amazon up by 0.78%, Meta up by 0.96%, and Tesla up by 3.34%.

Chinese concept stocks generally rose, with the Nasdaq Golden Dragon China Index up by 1.38%, Alibaba up by 1.10%, JD.com up by 1.45%, Pinduoduo up by 0.90%, NIO up by 5.62%, XPeng Motors up by 6.30%, Li Auto up by 5.07%, Bilibili up by 3.46%, Baidu up by 0.35%, NetEase up by 1.08%, Tencent Music up by 0.52%, and iQIYI up by 0.79%.

Corporate News**WeRide Lists on NASDAQ with a Nearly 7% Increase on the First Day**

On Friday (October 25th) Eastern Time, the autonomous driving company WeRide officially went public on the NASDAQ stock exchange with the ticker symbol "WRD," becoming the world's first stock for a universal autonomous driving company and also the first for a global Robotaxi (autonomous taxi) company.

The public offering price was set at $15.5 per American Depositary Share (ADS), and assuming the underwriters' over-allotment option is fully exercised, the company will issue a total of 8,903,760 ADSs.

On the first day of trading, WeRide's stock price surged by more than 27% at one point, triggering a circuit breaker, and closed with a gain of 6.77%.

**Boeing Explores Options for Troubled Starliner Program**

According to informed sources, Boeing is evaluating the future options for the troubled Starliner space capsule program as the new Chief Executive Officer, Kelly Ortberg, is broadly reviewing the company's business portfolio. The sources indicated that the assessment is still in its early stages, and no decision has been made to divest the Starliner program. Boeing may decide to retain this business. The informed source stated that Boeing is not currently seeking to sell its broader space business, nor has it abandoned contracts with NASA on the International Space Station and Space Launch System. The Wall Street Journal reported earlier on Friday that Boeing is considering selling its space business.

**Intel Announces Over $28 Billion Investment to Build Two Chip Factories in Ohio**

On October 25th, Intel announced plans to construct two new cutting-edge chip factories in Ohio with an initial investment of over $28 billion. The initial phase of the project is expected to create 3,000 Intel jobs, 7,000 construction jobs during the building process, and tens of thousands of additional local long-term jobs for a broad ecosystem of suppliers and partners. Concurrently, to support the development of the new base, Intel has pledged an additional $100 million to collaborate with educational institutions to establish talent pipelines and support research projects in the region.

**TSMC's Arizona Factory Chip Yield Said to Exceed That of Similar Factories in Taiwan**

Media reports, citing sources, state that the chip yield from TSMC's factory in Arizona, USA, has surpassed that of its similar factories in Taiwan.Inside sources have revealed that Rick Cassidy, the president of TSMC's U.S. division, stated at an event on October 23rd local time that the chip yield rate of TSMC's first factory in Arizona is about 4 percentage points higher than that of similar factories in Taiwan. Yield rate is a key metric in the semiconductor industry because it determines whether a company has the capability to bear the enormous costs of a chip factory. The costs of constructing and maintaining a wafer fab are extremely high, with the construction of a state-of-the-art manufacturing plant potentially requiring tens of billions of dollars.

【Amazon Global Grocery Senior Vice President Hoggett Departs】

Tony Hoggett, the executive who has been in charge of Amazon's grocery business over the past few years, will be leaving the e-commerce giant. "It's time to take the next step in my career," Amazon Global Grocery Senior Vice President Hoggett posted on LinkedIn on Friday, without specifying what he will be doing next. Hoggett, a former executive at Tesco, joined Amazon in early 2022 and led efforts to revive the company's grocery business and physical retail approach.