NEWS
Global Stocks Overlook ‘Lackluster’ China Stimulus

U.S. and global equities continued their rally after China unveiled a 6 trillion yuan bond issuance over the next three years to address local debt and bolster property market stability. The market had expected up to 10 trillion in stimulus. Still, crypto was the talk of the town after a weekend breakout, while several “catch-up” plays across equities soared as the bull market behavior braved on. 👀

Today's issue covers more catalysts for financial stocks, crypto finally catching onto “Uptober,” and several M&A activities from the day. 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with technology (+1.30%) leading and energy (-0.04%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $SOFI, $COIN, $NU, $ARM, $VST 📉 $DUO, $MSTR, $BIDU, $ZM, $DG*

*If you’re a business and want to access this data via our API, email us.

STOCKS
Fintech Firms & Financials Feel The Love 🏦

Last week we covered the country’s biggest banks breaking out following better-than-expected results. But some of the smaller fintech and neo-bank plays have also been quietly on the move, getting a major boost today.

Upstart and Affirm both rose sharply after Wedbush Securities upgraded them from ‘underperform’ to ‘neutral.’ The online lending platforms are seen as a rate-cut bet, with credit more regularly available and an economy that’s holding up better than most anticipated, which means these stocks may be undervalued. 💳

Neobank SoFi Technologies also soared 11% after announcing a $2 billion loan platform agreement with affiliates of Fortress Investment Group, a deal aimed at expanding its personal loan capabilities. Under the agreement, it will refer pre-qualified borrowers to its loan original partners and originate loans for third parties.

Investors like the diversification into less capital-intensive businesses that provide feed-based sources of revenue. Shares closed at a new 52-week high, with Stocktwits sentiment hitting ‘extremely bullish’ territory. 👍

Meanwhile, JPMorgan Chase and its peers that also reported on Friday received several analyst upgrades, pushing retail sentiment further into bullish territory as shares neared new all-time highs. 🔺

Overall, a lower interest rate environment and strong(ish) economy bodes well for the overall financial services sector. And with many of these stocks already trading near all-time highs, investors and traders are looking at those that haven’t run over the last few years to finally play some catch-up. 💸

What do Nvidia and Amazon have in common?

Well, other than trillion-dollar market caps. Both Nvidia and Amazon chose to collaborate with Miso. Miso’s the leader in AI-powered kitchen robots. That’s why Nvidia offered Miso its premier AI vision tech, and Amazon handpicked Miso to partner and use its RoboMaker simulation environment. Now, Miso launched their first commercial AI-powered robot, and it sold out in seven days. On the back of that success, they’re focused on scaling to 170+ US fast food brands in need.

Invest in Miso by 10/18.