US stocks rebounded on Monday, October 26, after two straight losing weeks for…

US stocks rebounded on Monday, October 26, after two straight losing weeks for the S&P 500 and Nasdaq. The S&P 500, which tracks the 500 biggest US companies, rose 0.7%, and the tech-heavy Nasdaq Composite gained 0.8%. The Dow Jones Industrial Average added 149 points, or 0.3%. Chip stocks led the way, with a key semiconductor index up more than 3%. Oil prices also eased from their recent six-month highs, taking some pressure off the broader market, and Treasury yields slipped back below 5%. The AI trade got a boost after AI company Anthropic filed for an initial public offering (IPO, when a private company first sells shares to the public), which revived investor interest in AI stocks. Tesla jumped about 6% after Barclays upgraded the stock, citing the possibility of a combination with SpaceX. Meta fell after announcing plans to raise up to $95 billion by selling new shares to fund its AI spending. Selling new shares means existing shareholders own a smaller slice of the company. JetBlue tumbled after a report that its senior creditors are working with a restructuring advisor. The week ahead is packed: more Big Tech earnings and the Federal Reserve’s decision on October 28, where markets see only about a 10% chance of a rate hike.

Philippine stocks fell for a third straight session on Monday. The PSEi, the index of the 30 biggest companies on the Philippine Stock Exchange, dropped 1.53% to 5,641.18, its lowest close since October 14. It closed at the day’s low after failing to hold above 5,700. Losers far outnumbered gainers, 106 to 61. Analysts said worries about the economy are keeping investors on the sidelines ahead of third-quarter company earnings and this week’s Fed decision. The peso’s slide deepened. It closed at another record low of ₱63.95 per dollar, just five centavos short of ₱64. Analysts said remarks from President Trump about possible renewed military action against Iran strengthened the US dollar during Asian trading, and that growing fears of “stagflation” (slow growth combined with high inflation) are hurting confidence. One analyst warned the peso could weaken to ₱65 unless problems in food security, transport, and electricity are addressed. A weaker peso also makes the country’s foreign debt more expensive to repay in peso terms.

Monday showed how the time-zone gap can leave Filipinos with the worse end of a story. During Asian trading hours, President Trump’s comments about possible renewed military action against Iran strengthened the US dollar, pushing the peso to a fresh record low and dragging down Philippine stocks. Hours later in New York, oil prices eased and US stocks rallied on AI optimism. By then, the PSE had already closed. That gap is one reason Philippine markets have struggled this month even on days when Wall Street does well. It also shows that rate hikes alone may not be enough to support the peso. Analysts pointed out that the peso kept hitting record lows even after the BSP’s hikes in August and October. Oil prices, US interest rates, and confidence in the Philippine economy matter just as much. For households, a peso near ₱64 means higher prices for fuel and imported goods. For OFW families, each dollar sent home converts into more pesos than ever, though rising living costs eat into that. The Fed’s decision on October 28 is the next big test: if it signals more hikes later this year, the dollar could strengthen further.