StockMarket.News

$SpaceX(SPCX.US) reports earnings tomorrow, and Wall Street expects its revenue to jump about 63% in a single quarter

Analysts see third quarter revenue of about $12.74 billion and earnings of 14 cents a share, per LSEG data cited by Reuters. Last quarter SpaceX brought in $7.8 billion and posted a $541 million net loss

That would make it SpaceX's first profitable quarter as a public company, only four months after the June IPO

AI is doing the heavy lifting. SpaceX spent $15.8 billion on AI capex in Q2 alone, and Evercore ISI expects it to exit 2026 at an annualized revenue run rate of about $104 billion, with 2027 capex near $151 billion

Starlink is still the cash engine. Connectivity revenue rose 66% to $4.3 billion last quarter

The stock closed Monday at $147.96, up 1.3%. That's above the $135 IPO price but about 30% below its peak close of $211.39 in June

It also lands right after President Trump thanked Musk on Monday for pledging one SpaceX share to every American child through Trump Accounts

$Tesla(TSLA.US) reports Wednesday, so investors get a rare side by side look at Musk's two most valuable companies while merger talk keeps building

The EPS number is the easy part. A $15.8B quarterly AI spending bill needs a lot more than Starlink to pay for it, and tomorrow is the first real read on whether those compute contracts are actually turning into revenue

Source: StockMarket.News

The Nasdaq 100 just posted its best day since September 21, one week after it lost 5.5%

The tech heavy index closed up 1.17% Monday. The Nasdaq rose 1.1% to 26,430.89 and the S&P 500 gained 0.4% to 7,690.73, while the Dow slipped 0.1% to 51,966.03

$Amazon(AMZN.US) led the Magnificent 7 with a 5% jump, its best day since July 31, adding roughly $130 billion in market value. Morgan Stanley said AWS growth could hit 47% in 2027, and $Amazon(AMZN.US) is funding a 960 MW nuclear project in Indiana

$Tesla(TSLA.US) rose 3.8%, $NVIDIA(NVDA.US) 1.4%, $Alphabet(GOOGL.US) 1.1% and $Microsoft(MSFT.US) 0.8%. $Apple(AAPL.US) and $Meta Platforms(META.US) were the only Mag 7 names in the red

Chips bounced after last week's rout, with $SOXX up 1.7% and $Broadcom(AVGO.US) up 1.8%

Not everything held. $Coreweave(CRWV.US) was up as much as 7.3% early and closed down 0.4%

The 10 year Treasury yield rose about 4 bps to 5.14%, WTI crude fell 3% to about $98 and the VIX dropped 8% to 18.4

A relief rally led by a few megacaps isn't an all clear. The Dow finished red, $Coreweave(CRWV.US) gave back its whole bounce and the 10 year is still above 5%, so the real test is the first big AI earnings reports and whether all that spending is finally paying off

Source: StockMarket.News

Anthropic is reportedly close to a second $45 billion compute deal with the same data center company, which would put its total with Nscale near $90 billion

Bloomberg reports the $NVIDIA(NVDA.US) backed AI cloud firm is in talks to sell Anthropic about $45B of computing power for a second building at its Monarch campus in West Virginia. A deal could come as soon as the coming days

It would land less than two months after the first one. On Aug 25, Anthropic signed agreements with Nscale worth up to about $44.6B for the first Monarch building, roughly 460 MW of $NVIDIA(NVDA.US) Vera Rubin systems over six years, per Nscale's IPO filing

The second building is also said to deliver 460 MW of compute

That would make Anthropic a bigger Nscale customer than $Microsoft(MSFT.US), which has signed up for as much as $43.8B through 2033. Both $Microsoft(MSFT.US) and $Alphabet(GOOGL.US) looked at the first Monarch building before it went to Anthropic, per Semafor

Anthropic has also lined up about $50B with Fluidstack and $45B with $SpaceX(SPCX.US) for compute in recent months, per Semafor

The catch is in the fine print. Nscale's filing says it hasn't secured binding financing for the Anthropic buildout yet, and missed delivery dates let Anthropic walk away from a tranche

Anthropic is buying compute like a hyperscaler before it's even public. Every one of these deals ends up as $NVIDIA(NVDA.US) racks, but stacking another $45B on a neocloud that hasn't financed the first building yet is exactly the kind of AI circularity that has credit markets pricing record default risk across the trade

Source: StockMarket.News

$Meta Platforms(META.US) just showed what it takes to run a gigawatt AI supercluster, and it's scaling the site toward roughly 1 million $NVIDIA(NVDA.US) GPUs

Meta engineers published a rare look inside Prometheus in New Albany, Ohio on Monday. The first phase is done and trained the Muse models, including Muse Wonder

Two years ago that same campus was a regular data center serving web traffic

It runs $NVIDIA(NVDA.US) GB200 and GB300 NVL72 racks today, with Vera Rubin NVL72 racks coming next

The wildest numbers are on reliability. In mid 2025 the cluster peaked at nearly 1,000 interruptions per 8,000 GPUs per day. A year of work with $NVIDIA(NVDA.US) engineers stationed on site cut that by 99%

Each 72 GPU rack only puts 64 GPUs on the job and keeps 8 as spares, so a failed chip gets swapped without waiting on a repair. A 32,768 GPU training run actually needs about 13% more GPUs than it uses

Power is just as extreme. Tens of thousands of GPUs moving in lockstep swing the load 30% to 40%, and starting or pausing a big job can move tens of megawatts in seconds

Next is Hyperion in Louisiana, which $Meta Platforms(META.US) is designing from scratch

Buying the chips is the easy part of the AI buildout. Keeping hundreds of thousands of them alive is where the real spending goes, and spare GPUs sitting idle in every rack mean demand for $NVIDIA(NVDA.US) hardware runs even higher than the compute numbers suggest

Source: StockMarket.News

The US Energy Secretary says "dozens to hundreds" of sanctioned shadow fleet tankers could be turned into legitimate ships, as hiring a single supertanker still costs about $1.37 million a day

Chris Wright said Monday the US is converting sanctioned dark fleet tankers into legitimate tankers, per FirstSquawk and Newsquawk. He also said talks with the UK on releasing diesel stocks are continuing

The relief would run case by case. Buyers or owners would apply to Treasury's OFAC, and officials say it would not let Russian or Iranian oil move, per Reuters

The goal is cheaper freight. A supertanker from the Middle East Gulf to China earned about $1.37 million a day last week on Baltic Exchange data, just off the record highs set since the Iran war began

Brent is still around $108 after settling Friday at its highest since May 19. Kpler says attacks cut Gulf crude flows to about 8.5 million barrels a day last week, and a tanker hit a mine in the Strait of Hormuz on Sunday

The catch is the fleet itself. Kpler tracks about 160 supertankers under US sanctions, roughly 22% of the commercial fleet. 46 are more than 20 years old, and only about 24 could realistically rejoin global trade once Iran's state tanker company is excluded

Many lack class certificates and credible insurance, and licenses to sell a sanctioned ship can take months or even years

Freight futures already tumbled on the first reports last week, and the WTI discount to Brent narrowed to about $10.42 from $14.17, its widest in over five months

This looks like a policy that moves freight futures faster than it moves ships. Two dozen old tankers won't fix a choke point, so real relief for oil and inflation still runs through Hormuz, not Treasury paperwork. The WTI to Brent spread is the cleanest place to watch whether it's working

Source: StockMarket.News

$Cleveland Cliffs(CLF.US) just ripped 16% after the steelmaker said its profit should more than double next year

Cleveland-Cliffs now expects 2027 adjusted EBITDA to top $4 billion, based on new contracts it has already signed and current index price forecasts. It's on pace for roughly $1.7B in 2026

Third quarter adjusted EBITDA hit $612M, beating the company's own $575M guidance and more than doubling the $286M it made in Q2. CEO Lourenco Goncalves called it the strongest quarter in three years

Adjusted EPS came in at $0.28 vs $0.22 expected per

Source: StockMarket.News

Nearly 10 million Americans in default on their federal student loans could start losing paychecks and tax refunds next year

Trump administration officials are preparing to restart penalties on defaulted borrowers in 2027, per a Washington Sun report citing five sources familiar with the matter

Treasury is moving ahead with plans to hire private debt collectors, possibly as soon as November. Sources said the plans are unlikely to be announced before the Nov 3 midterms

The two main tools are wage garnishment, which can take up to 15% of a paycheck, and Treasury offsets, which can seize tax refunds, Social Security payments and child tax credits

Some officials want to start with the tax year due April 15, 2027, though sources cautioned it could slip again

Treasury itself says more than 5 million borrowers have been in default for over six years, and another 5 million defaulted in less than a year. The government's student loan book is $1.7 trillion

Involuntary collections have been on hold since January. Postponing them has cost taxpayers about $5 billion so far, per the Committee for a Responsible Federal Budget

This is a consumer story markets aren't pricing yet. Pulling even a few hundred dollars a year from millions of already stretched households, right as refund season hits, lands straight on lower income spending in 2027. Subprime credit and discount retail are where it would show up first

Source: StockMarket.News

Wall Street is now paying record prices to insure the biggest AI companies against default

Five year credit default swaps, which are quoted in basis points per year, so 100 bps means paying $1 a year to insure $100 of debt, have blown out across the AI trade, per Reuters, Bloomberg and IFR

$NVIDIA(NVDA.US), the world's most valuable company and rated AA, now costs about 90 bps to insure, roughly 50 bps above early June and well above the investment grade CDS index at about 62 bps

$Meta Platforms(META.US) is around 105 bps, and Reuters says $Amazon(AMZN.US) and $Alphabet(GOOGL.US) default insurance also traded at record highs last week

$Broadcom(AVGO.US) hit a record 136 bps, the highest since at least 2009 and more than triple late May, as it backstops a $42B loan package to help Anthropic pay for its chips

$Oracle(ORCL.US) hit a record 288 bps, $SoftBank(SFTBY.US) (SoftBank) 424 bps, and $Coreweave(CRWV.US) blew past 1,100 bps, which implies roughly a 63% chance of default within five years, up from about 30% a year ago

And it hasn't stopped with Monday's bounce. Bloomberg data shows $NVIDIA(NVDA.US) and $Broadcom(AVGO.US) pushing out to fresh all time wides today, even as chip stocks rally

The stock market is asking whether AI pays off. The credit market is asking who pays for it. Borrowers like $Oracle(ORCL.US), $Broadcom(AVGO.US) and $SpaceX(SPCX.US) have priced nearly half a trillion dollars of AI infrastructure debt this year per Bloomberg, and none of these companies is anywhere near default. But when protection on $NVIDIA(NVDA.US) costs more than on the average investment grade company, the price of funding the buildout is rising for everyone, and that's the part today's equity bounce hasn't priced

Source: StockMarket.News

Retail just poured a record $7 billion into a 3x leveraged chip ETF in one week, while hedge funds dumped tech at a record pace

$SOXL, which triples the daily move of chip stocks, pulled in more than $7B last week, its biggest weekly inflow ever, even as the fund lost about a third of its value, per

Source: StockMarket.News

France's 10 year borrowing cost just spiked as much as 16 basis points in one day to 4.94%, its biggest one day jump since March 2025 per Bloomberg

Investors are dumping French debt after the country's worst unrest in years, with hundreds of thousands marching over the cost of living and more than 2,400 arrests as cars and buildings burned

France now pays more to borrow than Italy (4.57%) and Greece, and roughly 1.4 percentage points more than Germany (3.42%), a gap last seen during the eurozone debt crisis

The 10 year yield already hit 4.99% earlier this month, the highest since 2002

The CAC 40 fell as much as 1.7%, with BNP Paribas and Societe Generale both down more than 2%

Debt to GDP is now about 119%, up from 98% in 2019 and 65% in 2007, and the deficit sits near 5% vs the EU's 3% limit

Moody's reviews France's credit rating on Friday, while the 2027 budget fight is the same battle that toppled two of PM Lecornu's recent predecessors

As one RBC BlueBay strategist put it, "either the bond markets riot, or the people riot, or both"

This is the setup bond investors fear most, a government that needs painful cuts facing a public that is already in the streets before the cuts even start. With nearly 60% of French debt now held by foreigners, a Moody's downgrade on Friday could turn a bad Monday into a real funding scare, and that is a risk even a 2% Nasdaq rally can't fully paper over

Source: StockMarket.News

Saudi Arabia just pulled the plug on the in person "Davos in the Desert" after weeks of Houthi attacks on its airports

The kingdom has scrapped in person attendance at next week's Future Investment Initiative and is now weighing a full postponement, per Reuters. The FT and WSJ are reporting the same, citing people familiar with the matter

FII is Saudi Arabia's flagship investment conference, set for its 10th edition in Riyadh. $Goldman Sachs(GS.US) CEO David Solomon, $Citigroup(C.US) CEO Jane Fraser and Standard Chartered CEO Bill Winters were all on the draft speaker list

The Houthis have hit Riyadh's King Khalid airport 20 times since Oct 1, per the Saudi led coalition. Attacks on Saudi airports have killed 19 people and injured 364, including an Oct 10 strike that killed 13 and wounded 309, the deadliest attack in the kingdom since 2015

Wall Street pushed for this. Big banks and private equity firms privately raised safety concerns with PIF governor Yasir Al-Rumayyan, per Semafor, and the final call sits with Crown Prince Mohammed bin Salman. Riyadh Fashion Week, an exhibition tennis tournament and the Misk Global Forum have already been called off, and the US advises against all but essential travel to the kingdom

FII is where Saudi Arabia sells its post oil future to global money, and the whole pitch is that the Gulf is a safe home for trillions in capital, data centers and AI buildouts. Missiles over the capital's main airport break that pitch. Oil traders have been pricing Gulf risk for weeks with Brent still near $108, and now it is showing up in the deal pipeline too. If the CEOs who fund those buildouts will not fly in, the money gets harder to raise

Source: StockMarket.News

US homebuilder confidence just crashed to its lowest level since 2012

The NAHB/$Wells Fargo(WFC.US) Housing Market Index fell 3 points to 29 in October, the lowest reading since June 2012. Economists polled by Reuters expected 31

Every part of the survey got worse. Current sales fell 2 points to 33, sales expectations for the next six months dropped 5 points to 32, and buyer traffic sank 5 points to 18, its weakest since April 2012 outside the pandemic's onset

Builders are slashing prices to move homes. A record 43% cut prices in October, the highest share in NAHB's data going back to 2020, with the average cut stuck at 6% for a seventh straight month. 65% are using sales incentives, the 19th straight month above 60%

The driver is rates. The 30 year fixed mortgage averaged 7.40% last week per $Freddie Mac(FMCC.US), the highest in nearly three years, as the Iran war pushes oil and inflation higher and drags Treasury yields up with them. Builders also flagged rising costs for materials, construction loans and diesel, and more than a third reported immigration enforcement in their markets delaying jobs

Housing is where higher rates bite first. Stocks bounced on AI this morning, but builders are saying the rate shock has already reached Main Street. A record share cutting prices while buyer traffic sits at 2012 levels means something has to give, either mortgage rates come down or home prices do. And with the midterms on Nov 3, affordability is now a political problem too

Source: StockMarket.News

39 years after Black Monday, Wall Street got a bounce instead of a crash

On Oct 19, 1987, the Dow plunged 22.6% in a single session, still the worst day in US stock market history

This Monday, the weekend chatter was full of crash talk after last week's AI selloff. Into the open, Nasdaq 100 futures were up about 1.2% and S&P 500 futures about 0.5%, per Reuters

Last week was brutal. The Nasdaq fell 4.5% and the S&P 1.95%, the worst week for both since late June. The Philadelphia Semiconductor Index dropped for 8 straight sessions, its longest losing streak since October 2008, closing Friday at 11,137 after a 3.8% drop and down 16% since Oct 6

$Coreweave(CRWV.US), which had plunged more than 25% last week on debt fears, climbed about 6.6% in premarket. $Broadcom(AVGO.US) and $Micron Tech(MU.US) were up more than 3% each, with $NVIDIA(NVDA.US) and $Amazon(AMZN.US) up more than 2%

Oil cooled too. Brent was down about 1.5% near $108 after some Russia sanctions were waived, taking a little pressure off rate-sensitive tech

The real test is still ahead. $Netflix(NFLX.US) and $SpaceX(SPCX.US) report Tuesday, then $Meta Platforms(META.US) and $Tesla(TSLA.US) on Wednesday. Last week's selling was about how the AI buildout gets financed. One quiet open on the anniversary of 1987 does not answer that. It just shows that when everyone is positioned for a crash, the bounce often shows up first

Source: StockMarket.News

$Amazon(AMZN.US) is funding a nearly 1 gigawatt nuclear power plant in Indiana to help feed its data centers

$Amazon(AMZN.US), $American Electric Power(AEP.US) and X-energy $X-Energy(XE.US) announced a joint development deal Monday to study building 12 of X-energy's Xe-100 small modular reactors at the site of a retired coal plant in Sullivan County, Indiana

Each reactor makes 80 MW, so the full plant would add 960 MW of carbon-free, around the clock power for the regional grid and $Amazon(AMZN.US)'s data centers

$Amazon(AMZN.US) is putting up milestone-based development capital and intends to buy the power under a long-term contract that covers the plant's costs, so $American Electric Power(AEP.US)'s existing customers are not stuck with the bill

It is the second project in the $Amazon(AMZN.US) and X-energy push to add more than 5 GW of new US nuclear capacity by 2039, following the Cascade facility with Energy Northwest in Washington state. $Amazon(AMZN.US) led X-energy's $700M funding round in 2024

The catch is that this is still feasibility work, with no final investment decision. No Xe-100 is running yet, and X-energy's first plant, a four reactor project at a $Dow(DOW.US) site in Texas, is still in the final stage of NRC review for a construction permit

Last week the market punished AI stocks over how the buildout gets financed. This is the other half of that bill. Power is turning into the real bottleneck, and the hyperscalers are now underwriting their own power plants more than a decade out. $Amazon(AMZN.US) is already backing over 40 GW of carbon-free energy across 700+ projects, but the payoff here runs on nuclear timelines, not earnings calls

Source: StockMarket.News

Indonesia's stock market just crashed nearly 15% in two trading days, its worst rout since the 1998 Asian financial crisis

The Jakarta Composite plunged 11.57% on Friday to 5,185.11, its biggest one day drop since January 1998 and worse than any single day of the 2008 financial crisis, per Refinitiv data via CNBC Indonesia. Trading was halted for 30 minutes after an 8% drop at the open

It fell another 3.64% on Monday to 4,996.61, closing below 5,000 at its lowest level since 2020. All 11 sectors finished in the red

The trigger was index provider $MSCI(MSCI.US), which said it is considering downgrading Indonesia from emerging market straight to "standalone" status over investability concerns, going well beyond the frontier downgrade it flagged in January. A final decision is due by June 2027

$Goldman Sachs(GS.US) estimates a full removal from MSCI's emerging market indexes could force about $5.6B in passive fund outflows, roughly 18 days of average trading volume, with another $2.7B at risk if FTSE Russell follows

The damage was already building. The MSCI Indonesia Index is down 47% this year, foreigners have pulled a net $5.1B from Indonesian stocks in 2026, on pace for a record annual outflow per Bloomberg, and the value of foreign holdings has nearly halved to about $130B from $250B

Regulators are scrambling. The exchange cut the daily limit down for individual stocks to 7% from 15% through year end, and the 10 year bond yield jumped to a four month high

This is what index power looks like in 2026. Passive money does not follow GDP growth, it follows the benchmark, and once $MSCI(MSCI.US) questions whether a market is investable, the selling feeds on itself. Indonesia now trades near 7.3 times forward earnings, the lowest since the financial crisis, but the only number that matters before June is whether Jakarta can fix governance fast enough to stay in the index

Source: StockMarket.News

Elon Musk says he will give one of his own $SpaceX(SPCX.US) shares to every kid in America next year

"Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many," Musk posted early Monday

There were about 72 million US children under 18 as of July 2025 per Census data. At Friday's $SpaceX(SPCX.US) close of $146.03, that works out to roughly $10.5B in stock, per CNBC

It is still a sliver of his stake. Musk owns about 4.8 billion SpaceX shares per an August SEC filing, so the giveaway would be roughly 1.5% of them. Counting unvested awards and options, he has 6.4 billion shares and a 48.4% beneficial stake

The pledge came right after Anthropic said it will commit 5% of its shares to a new Public Benefit Fund, with the board able to add 2% more for every 50% rise in its value above a set baseline. Musk replied that he recommends "giving the shares directly to the public" and that this is what he will be doing

There are no details yet on timing, eligibility or how the shares would actually be delivered. His post has already pulled more than 180K likes and 6.5M views in a few hours

One share each would turn a whole generation into $SpaceX(SPCX.US) shareholders overnight and make it one of the most widely held stocks in the country, all for about 1.5% of Musk's stake. With AI companies under growing pressure over what the technology does to jobs, sharing the upside with the public just became a competition between the biggest players. The real test is whether this comes with an actual mechanism or stays a post

Source: StockMarket.News

China's benchmark stock index just fell for a record 10 straight weeks, even as the economy grew faster than expected

The CSI 300 dropped 3.4% last week, stretching its losing run to 10 weeks, the longest since the index launched in 2005, per Bloomberg

It is now down about 17% from its June peak and closing in on a technical bear market. The Nasdaq style STAR 50 has tumbled nearly 40% this half, the worst performing major tech index in the world

Meanwhile China's GDP grew 4.5% in Q3 from a year earlier, beating the 4.4% Reuters poll and picking up from 4.3% in Q2, the slowest pace since 2022

The growth is lopsided. Industrial output rose 5.5% in September and the monthly trade surplus hit a record $133.5B, but retail sales grew just 1.1%, fixed asset investment is down 7.2% this year and real estate investment is down 20.6%

Beijing looks like it is stepping in. Inflows into ETFs favored by the state backed "National Team" hit their highest since July last week, and the CSI 300 edged higher Monday after the GDP data

A growth beat next to a record losing streak says Chinese stocks are trading the AI unwind, not the GDP print. Bloomberg calls Chinese firms the biggest losers of the faltering global AI trade. Factories and exports are carrying the economy while households hold back, and the National Team can slow a selloff but it cannot make consumers spend

Source: StockMarket.News

$NVIDIA(NVDA.US) CEO Jensen Huang just weighed in on the AI selloff that has hammered chip stocks all week

"All of this is going to pass"

The comment crossed as a Bloomberg headline Friday afternoon, right as $NVIDIA(NVDA.US) wrapped up a 6.6% weekly drop. Shares closed at $214.13, down 1.4% on the day, after finishing last Friday at $229.28

It is the latest in a string of reassurances from Huang on his European tour. On Thursday he told Bloomberg in Stockholm that "CoreWeave's strength is improving every day" and that its cost of capital is actually decreasing

On the BG2 podcast released Thursday, he said new orders are arriving "almost weekly and daily," that frontier labs like OpenAI and Anthropic make up only about 25% to 30% of $NVIDIA(NVDA.US)'s computing activity, and that they "don't have to be anywhere near a trillion dollars in revenues to be successful"

The market is not buying it yet. US chip stocks had lost about $1.64T in market value over six sessions as of Thursday per Reuters, the VanEck Semiconductor ETF $SMH fell another 3.4% today, and the Nasdaq dropped 2.1% to close out its worst week since June

Huang is probably right that AI demand does not disappear because yields went up, and $NVIDIA(NVDA.US) is one of the few names in this trade sitting on real profits. But this selloff was never about whether customers want GPUs. It is about whether the debt funded buyers can keep paying for them with the 10 year near 5%, and no CEO quote fixes that. The tell is still $Coreweave(CRWV.US) and the neocloud bond market, not $NVIDIA(NVDA.US)'s order book

Source: StockMarket.News

Oil just settled above $100 while the Nasdaq closed out its worst week since June

Brent crude touched $110 a barrel for the first time since May and settled up 3.7% at $109.86, its highest close since May 19, per Reuters

WTI settled up 3.5% at $101.41, the highest since September 17

The jump came as attacks around the Strait of Hormuz surged over the past 10 days, a missile was intercepted near Saudi Arabia's Yanbu export port, and US lawmakers moved to block the Russia diesel deal. Crude is now up more than 70% this year per Bloomberg

Stocks went the other way. The Nasdaq fell 2.1% today and 4.5% on the week, and the S&P 500 lost about 1.1% today and 1.95% on the week. The Dow slipped 0.3% but still finished the week up 0.7%

Under the surface it was a full rotation. Tech $XLK fell 7.7% this week while energy $XLE rose 4.9%, with $ConocoPhillips(COP.US) up 9.3%, $Chevron(CVX.US) up 6.1% and $ExxonMobil(XOM.US) up 5.9%

$Chevron(CVX.US), $ConocoPhillips(COP.US), $Shell(SHEL.US), $BP PLC-Spons(BP.US), $APA(APA.US) and $Suncor Energy(SU.US) all hit new 52 week highs today, along with payments giants $Visa(V.US) and $Mastercard(MA.US). Health care also climbed to record highs

Oil above $100, a 10 year yield near 5% and two hot inflation prints in one week is a rough mix for the long duration AI names that led this market. The money is moving to companies that earn cash at today's prices instead of tomorrow's promises, and next week's $Tesla(TSLA.US), $Netflix(NFLX.US) and $Meta Platforms(META.US) earnings are big tech's first real shot at winning it back

Source: StockMarket.News

$Alphabet(GOOGL.US)'s Waymo is heading to Canada, picking Toronto as its first Canadian city with paid robotaxi rides targeted for 2028

Waymo cars start driving Toronto streets in the coming days, manually at first, with trained specialists behind the wheel building HD maps and validating the software under Ontario's Automated Vehicle Pilot Program

Toronto is Waymo's 4th announced market outside the US, after London, Tokyo and Singapore

Toronto based Element Fleet Management will run fleet operations, $Magna(MGA.US) is the manufacturing partner and the Canada Pension Plan Investment Board is a long term investor. Waymo says it and its partners will create hundreds of local jobs

The hurdle is regulation. Ontario's pilot is a testing framework, not a ride hailing licence, and per Electrek the regulation behind it is set to be revoked on October 13, 2027, months before Waymo wants to carry riders

In the US, Waymo is already doing more than 500,000 paid rides a week across over a dozen metros

$Alphabet(GOOGL.US) is down about 2.7% today near $340 as the AI selloff drags on big tech

Every new city adds to the case that Waymo is one of the most underappreciated pieces of $Alphabet(GOOGL.US). Two years and at least two Toronto winters of testing before a single paid ride looks slow, but it is the same playbook that built a half million rides a week business in the US. The real risk here is not the tech, it is whether Ontario writes commercial rules before its pilot runs out

Source: StockMarket.News

The Nasdaq 100 $QQQ is now down more than 2% today as the AI selloff picks up speed heading into the weekly close

The index is near 29,280, down about 5.2% this week from 30,883 last Friday

The Philadelphia Semiconductor Index is off about 2.6% today and roughly 10% on the week

The S&P 500 is down about 1%, while the Dow is only off about 0.4% and still up on the week as money rotates into banks and old economy names

$Coreweave(CRWV.US) is down about 11% and $Nebius(NBIS.US) about 10% as worries over CoreWeave's debt load keep spreading. Its 9.75% bonds due 2031 now yield above 15% per CNBC

$Palantir Tech(PLTR.US) is down about 7%, $AMD(AMD.US) and $Intel(INTC.US) about 4.5%, $Oracle(ORCL.US) and $Micron Tech(MU.US) about 4%, and $Meta Platforms(META.US) about 3.4%. $Apple(AAPL.US) is one of the few big tech names in the green

The VIX has jumped nearly 30% to above 21, and the 10 year Treasury yield is back near 5.11% after hotter than expected CPI and PPI prints this week

Per CNBC, 20 of the world's most valuable AI and chip stocks had already shed more than $1T in market value this week before today's drop

The market has stopped asking what AI can do and started asking who pays for it. With yields above 5% and the Fed leaning hawkish, the most debt heavy and highest multiple AI names are getting hit first while $Apple(AAPL.US), banks and the Dow hold up. That looks more like a repricing of AI funding risk than a broad growth scare, and the tell will be whether the neocloud credit stress spreads or stays contained

Source: StockMarket.News

China's biggest memory chipmaker CXMT just reported preliminary results for the first nine months of 2026, and the AI memory boom is showing up in a big way

Revenue is expected at 265B to 270B yuan, about $39.7B to $40.4B, up roughly 726% to 742% from about $4.8B in the same period last year

Net income is expected at 131B to 132.5B yuan, about $19.6B to $19.8B, flipping from a 5.28B yuan loss a year ago

That works out to a net margin near 49%

CXMT credited AI computing demand and a DRAM upcycle, with products in short supply and prices rising sharply, plus its own capacity expansion and process upgrades

Chairman Zhu Yiming also proposed buying back 1B to 2B yuan of the company's A shares

Per TrendForce, CXMT was already the world's 4th largest DRAM maker in Q2 with 9.5% share, up from 7.6% in Q1, behind Samsung at 39.4%, SK Hynix at 24.9% and $Micron Tech(MU.US) at 23.3%

$Micron Tech(MU.US) is down about 3.6% today near $898

A Chinese memory maker keeping nearly half of every dollar of sales as profit tells you how tight DRAM supply really is right now. The shortage is lifting everyone, but CXMT is also the one supplier outside the big three adding capacity this fast, and every point of share it takes in conventional DRAM is supply that leans on pricing once AI demand cools. Near term this confirms the memory upcycle. The longer term question for $Micron Tech(MU.US) is what CXMT's buildout does to prices when the cycle turns

Source: StockMarket.News

$Apple(AAPL.US) iPhone Duo pre-orders opened at 8 AM ET and sold out within minutes

Per AppleInsider, shipping dates slipped to Nov 16 and then Nov 23 for every model almost immediately after the window opened

First shipments and in-store sales still begin Oct 23, but online orders are already well past that. As orders kept stacking, some configurations later showed January 25 delivery windows

Apple is believed to have made fewer units than a typical iPhone launch, tied to manufacturing complexity on the new foldable design. It is also the most expensive iPhone Apple has ever sold

$Apple(AAPL.US) is up about 0.5% near $344

Apple's first foldable landing with instant backorders is the demand signal investors want to see from a new category. The catch is constrained launch supply, so the early sellout says as much about how few units were ready as it does about true demand. Watch how fast those delivery dates come back in as production ramps

Source: StockMarket.News

Anthropic's IPO valuation expectations just dropped from roughly $2T to around $1.5T, per Reuters

Some current and prospective investors who attended Anthropic's investor day in San Francisco on Wednesday are now discussing a $1.5T valuation for the November share sale

Anthropic told them Q3 revenue jumped 45% QoQ to $16.8B, and that it was profitable on an adjusted basis

The catch is the slowdown. Q2 revenue more than doubled from Q1 to $11.6B, so sequential growth went from over 100% to 45% in a single quarter

The Claude maker has also committed at least $518B over a decade to cloud, compute and infrastructure, with $Alphabet(GOOGL.US) and $Amazon(AMZN.US) acting as investors, compute suppliers and rivals all at once

This lands the same day $Coreweave(CRWV.US) shares and bonds got hit again over debt-funded AI buildouts

Even at $1.5T, investors would be paying about 22x Q3's annualized revenue for a company growing 45% a quarter that just turned an adjusted profit. That isn't the market calling Anthropic broken, it's the market putting a ceiling on the AI premium while rates and credit stress bite. This IPO is turning into the referendum on the whole AI trade, and a clean November pricing could reset sentiment for $NVIDIA(NVDA.US), $Amazon(AMZN.US) and $Alphabet(GOOGL.US) fast

Source: StockMarket.News