Good morning.
The Fast Five → Wall Street’s AI party is on edge, Trump taps Jay Clayton as AI Czar, OPEC+ agrees to keep Nov. oil output steady, US jobs fall far short of expectations, and Ackman calls Anthropic 'perhaps the greatest business story I've ever seen'…
📌 A scary development every AI investor needs to take note of →
(from Weiss Ratings)
Calendar: Full Calendar »
Today:
ISM Services PMI, 10:00A
Tomorrow:
None watched
Your 5-minute briefing for Monday, October 5:
BEFORE THE OPEN
As of market close 10/2/2026. Bitcoin as of 10/4/2026.
Pre-Market:
Market Wrap:
Futures: Dow +53 (+0.1%), S&P +0.1%, Nasdaq +0.1%
Fri: Dow +250 (+0.5%), S&P +0.7%, Nasdaq +1.2%
Weak jobs data eased rate-hike concerns
Treasury yields remain near multidecade high
Tech led Friday’s rally; Nasdaq hit a record
Fed minutes take center stage Wednesday
Focus shifts to ISM services and earnings
EARNINGS
Here’s what we’re watching this week:
TUE: Constellation Brands $STZ ( ▲ 0.39% )
WED: Levi Strauss $LEVI ( ▲ 2.01% )
*Applied Digital $APLD ( ▼ 2.68% ) - $.30 EPS vs $.03 a year ago, on $124.57M revenue (+94.0%)
THU:
*PepsiCo $PEP ( ▼ 0.19% ) - $2.30 EPS, up from $2.29 a year ago, on $24.98B revenue (+4.4%)
FRI: *Delta Air Lines $DAL ( ▼ 1.2% )
This AI Stat Will Disturb You …
AI stocks are overhyped.
The data is telling us a crash is coming.
And this one stat confirms it.
- A sponsored message from Weiss Ratings -
HEADLINES
Wall Street’s AI fixation is so strong that it’s overwhelming all risks, including soaring interest rates, as investors continue to plow money into the market’s largest technology stocks and push equity indexes toward record highs.
OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output policy adjustments are unlikely until next year.
Futures flat as investors grapple with higher yields, await Fed minutes (more)
Fears of European debt crisis send bond yields soaring (more)
Trump taps Dir. of National Intelligence Jay Clayton as AI czar (more)
Trump reiterates pledge to send $5,000 checks (more)
Trump: US deal with South Korea has $8.4B for oil recovery (more)
Bessent, IRS crack down on ETF ploy the wealthy are using to avoid taxes (more)
G7 nations to release diesel stocks as wars constrain fuel supplies (more)
OPEC+ agrees to keep November oil output targets steady (more)
Oil climbs after Yemeni Houthis attack Saudi Aramco sites (more)
US adds 29,000 jobs in September, far short of expectations (more)
High mortgage rates are trapping homeowners in place (more)
AI's race to transform the world before the money runs out (more)
Ackman calls Anthropic 'the greatest business story I've ever seen' (more)
Tesla's car business back on growth path as deliveries beat forecasts (more)
Musk says he will rename SpaceXAI to SpaceXSI (more)
David Ellison: Paramount and Warner Bros will be named Skydance (more)
DEALFLOW
M+A | Investments
Novartis strikes up to $7.8B mRNA deal with China's Abogen
Generali to buy 9.9% of Spain's Banco de Crédito Cooperativo for €150M
Italgas agrees to buy 22.5% of Portugal's Floene
ACCO Brands completes acquisition of European accessories maker Trust
Myriad360 receives investment from One Equity Partners
VC
PaleBlueDot AI, an infrastructure platform developing solutions for enterprise-scale deployment, raised $200M in Series C funding
NexBank Capital, a provider of financial and banking services, raised $150M in new funding
Parakeet Health, a healthcare AI company developing a conversational agentic platform, raised $10M in Series A funding
Photon, an AI infrastructure and developer tooling startup, raised $4.5M in Seed funding
SedMed, a medtech company providing non-electric mobility solutions, raised $4M in funding
Augmeta, an agentic KPI ops platform, raised $3M in Seed funding
CRYPTO
BULLISH BITES
✅ It’s a good time to buy bonds.
💰 AI will be a boon for savers.
🧳 This travel agency caters specifically to introverts.
🤨 Weird names you never knew for stuff you use every day.
DAILY SHARES
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