Fed's rate-hike pause could catalyze tech-stock rebound… Nomura report dated Oct. 30

Naka Matsuzawa, strategist at Nomura Securities, identified the end of the Federal Reserve's rate-hiking cycle as the key potential catalyst for a rebound in US tech stocks, according to Nomura's October 30 macro strategy weekly report. Matsuzawa argued that midterm election results alone would be insufficient to resolve market uncertainty, given ongoing concerns about AI investment outlooks and corporate credit. The report, cited by Wall Street outlet Wargaegyeonmun, positioned monetary policy direction—not election outcomes—as the central variable for a tech stock recovery. At the time of writing, Matsuzawa projected US equities to remain weak, bonds strong, and the dollar's trajectory uncertain in the week ahead. Market watchers should monitor upcoming Fed communications and economic data for signals on whether the rate-hiking cycle is indeed ending, as this would serve as the primary trigger for a tech sector turnaround.