The Weekend Rip
Happy Weekend!

Markets opened the week with AMD surging on a multi-gigawatt OpenAI deal and rare earths rallying on fresh U.S. stake buys. Still, momentum reversed as Oracle revealed chip rental losses, Tesla’s “affordable” EVs disappointed, and AI bubble fears intensified. Midweek saw tech slide on concerns over circular funding, gold hit record highs, and Fed minutes revealed division over rate cuts. Metals climbed while equities slowed. Earnings beats from Delta, Pepsi, and Tilray, while Levi’s fell on weak guidance. Friday capped the week with a sharp selloff after Trump threatened 100% tariffs on China, triggering tech’s worst day since April and deepening shutdown volatility.

Let's recap and prep you for the week ahead. 📝

🐿️ AMD’s AI Shockwave, Rare Earths Rally, and Modelo’s Consumer Chill

Markets climbed Monday as AMD surged on news of a multi-gigawatt OpenAI deal and potential stake buy, positioning itself as a key AI infrastructure player. Rare earth miners rallied on fresh government stake buys, including a $35M investment in TMQ, while Bitcoin hit $126K and gold neared $4,000 amid shutdown-driven safe haven flows. Constellation Brands fell after reporting Modelo sales dropped on consumer fear, and Spruce Biosciences soared 1300% on FDA breakthrough status. OpenDoor trended on Bitcoin homebuying buzz, and Plug Power gained on hydrogen momentum.

😅 Chip Losses, EV Sticker Shock, and Gold’s Flight

Markets fell Tuesday as Oracle revealed losses on its Nvidia chip rental model, raising fresh doubts about AI profitability. Tesla dropped 5% after unveiling “affordable” EVs priced at $38K–$40K, which investors deemed too steep for a crowded sub-$30K market. Gold surged past $4,000/oz amid shutdown uncertainty, while Bitcoin pulled back from record highs. Fed officials split on rate cuts, and hiring data remained murky. Meanwhile, Trilogy Metals soared 211% on a U.S. stake buy, and ICE jumped on a $2B Polymarket investment.

🥪 AI Blob Warnings, Space Phones, and Fed Division

Markets climbed Wednesday as tech led a broad pullback, with growing concerns over the “AI blob”—a web of circular funding deals between giants like Nvidia, OpenAI, Oracle, and AMD. Fed minutes revealed division over future rate cuts, with most members favoring more easing but some urging caution. AST SpaceMobile climbed on renewed Verizon satellite phone buzz, while gold hit another record above $4,050/oz amid shutdown gridlock. Analysts warned of bubble dynamics in AI spending, even as Nvidia and AMD continued to dominate the capital flow.

📉 Metals Shine, AI Bubble Talk, and Earnings Kickoff

Markets fell slightly Thursday as silver hit all-time highs and investors rotated into metals amid AI bubble concerns and trade tensions. China tightened rare earth export rules ahead of a potential Trump-Xi meeting, boosting names like MP Materials and Critical Metals. Delta beat earnings and forecast strong premium seat demand, while Pepsi and Tilray rallied on profit beats. Applied Digital surged on datacenter growth, but Levi’s fell on weak guidance. Meanwhile, the government shutdown dragged on, and Israel-Hamas reached a cease-fire in a Trump-brokered deal.

😢 Tariff Shock and Shutdown Fallout

Markets reversed sharply Friday, with the S&P 500 dropping nearly 3% after President Trump threatened 100% tariffs on Chinese goods and canceled a planned meeting with Xi. Tech led the selloff, marking its worst day since April, while Bitcoin and crypto stocks plunged on trade war fears. Meanwhile, Applied Digital surged 25% as miners pivoted to AI datacenter leasing, and Polymarket faced scrutiny over Nobel Prize betting spikes. With the Fed laying off 200k workers and CPI work resuming, investors brace for more volatility heading into Columbus Day.

🤩 This week's Stocktwits Top 25 showed outperformance vs. the indexes.

Here are the closing prices: 

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THE BRIEF

Need a concise summary of what's going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

Earnings This Week

Earnings season is back, and it’s better than ever, with over 117 stocks reporting this week.

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

Economic Calendar

In addition to the above, check out this week's complete list of economic releases.

Links That Don’t Suck 🌐

⛈️ New Jersey declares state of emergency as nor’easter approaches

🤸‍♀️ Wall Street's biggest banks are riding high as earnings season begins

🏘️ Vance warns ‘deeper’ cuts ahead for federal workers as shutdown enters 12th day

🚘️ China ‘not afraid of trade war,’ accuses U.S. of ‘double standard’ for rare earths retaliation

🆘 'Companies keep crushing their earnings': Why Wall Street expects AI to power stocks higher

⚠️ Trump says inflation is 'defeated' and the Fed has cut rates, yet prices remain too high for many

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