Tom Lee: S&P 500 is becoming cheaper in valuation, with its Q3 earnings growth rate likely approaching 30%

The Federal Reserve left interest rates unchanged at their current level as expected on Thursday. In its latest policy statement, the central bank upgraded its assessment of U.S. economic expansion from "solid" in September to "strong". The Fed noted that business investment remains robust and job growth aligns with the size of the labor market. Market participants have raised widespread skepticism over the Fed’s upbeat economic outlook. With economic growth momentum softening, some observers argue that even a minor weakening in economic fundamentals could derail this "strong" outlook. It remains unclear exactly how this strong performance will drive price pressures lower. Following Wash’s press conference, his lack of clear commitments on future policy actions led markets to scale back bets on further interest rate hikes. Against this backdrop, the spread between 2-year and 10-year Treasury yields, which had flattened in recent weeks, widened again, peaking at 34.1 basis points. The sharp sell-off in long-dated bonds indicates investors are navigating complexities beyond short-term monetary policy. Investors holding 10-year and 30-year U.S. Treasuries face greater exposure to inflation expectations and interest rate fluctuations over longer time horizons. When uncertainty rises, they demand additional compensation for this duration risk, pushing yields higher and bond prices lower.

Insight Beating AI Flash News: Katelyn Lesse, Head of Platform Engineering at Anthropic, disclosed in an interview with Latent Space that the company has migrated its Messages API from Python to Rust. Following the upgrade, the API service’s CPU usage is estimated to have fallen by roughly 40% to 50%, and first-token response latency improved by around 10% to 20%. The Messages API is the primary interface for developers to interact with Claude. As request volumes surged, the original Python monolithic service became increasingly CPU-heavy, leading the team to rewrite it directly in Rust. However, when the project kicked off, the migration team did not have a single Rust engineer. Ultimately, Claude handled the bulk of the code writing, while human engineers focused on architecture design and validation. The team first built a full Rust version, ran side-by-side tests where both new and old systems processed identical requests, compared outputs step by step, then gradually shifted production traffic over. The team also hired several Rust-experienced engineers during the process. Lesse added that migrations of this scale in the past would usually be split into multiple phases and take years. This time, the team completed the full API migration and rolled it out fully in September.

According to a report by Russian RBC, Ekaterina Andreeva, first vice president of the National Association of Securities Market Participants (NAUFOR), stated at Crypto Summit 2026 that investor testing standards for purchasing cryptocurrencies on Russia’s regulated platforms have been finalized. The draft was submitted to the Bank of Russia’s Basic Standards Committee last week. Brokers will be the first to qualify for test clients, with the rollout expected as early as the end of November. Test results will be valid across all regulated platforms, and question banks and processes for all licensed institutions are set to remain unified.

Haidian District Market Supervision Bureau of Beijing recently handled the city’s first illegal case of assisting pyramid scheme activities using blockchain and virtual currency technologies, fining and confiscating a total of over 930,000 yuan from a tech company. The involved firm provided outsourced services including technical operation and maintenance, marketing, exchange connection and maintenance for a public blockchain. This public blockchain previously launched the "Atomic Plan" and "Hathaway Plan", requiring participants to invest funds to qualify for membership, and offering rebates based on the number of new members they recruit. Regulatory authorities determined that the company, despite being aware the relevant projects were suspected pyramid schemes, continued to provide technical and operational support, facilitating fund flows and the spread of pyramid scheme activities. (Beijing Daily)

According to Bitget's market data, South Korea's KOSPI index closed down 74.78 points on Thursday, October 29, with a 1.24% drop to 5937.66 points. Samsung Electronics fell about 4%, while SK Hynix rose 2.6%.

Beating AI Insight News: Face Intelligence releases and open-sources the MiniCPM-OCR series. The 1.3B parameter MiniCPM-OCR 1.0 can recognize handwritten text, complex tables, formulas, as well as skewed and curved documents. It ranks first in four out of six OCR benchmark tests. On an RTX 5090, its processing speed reaches 1.217 pages per second, approximately 49% faster than PaddleOCR-VL-1.6. Another 2B parameter model, MiniCPM-OCR Jev, is dedicated to error checking: it verifies OCR results against original images and scores text, formulas, and tables separately. High-scoring content can be automatically approved, while questionable results are sent for manual review. It can also audit outputs from other models such as GLM-OCR and PaddleOCR, eliminating the need to replace existing OCR systems. This design targets the most labor-intensive part of the OCR workflow: machines can process documents quickly, but staff still have to manually check for missing characters, line errors, or misrecognized numbers. Face Intelligence’s internal experiments on 900 manually annotated image blocks show that when the accuracy of automatically approved content approaches 100%, up to 85% of legal document areas, 56.2% of financial invoices, and 35.1% of complex documents require no manual verification.