Good morning.
The Fast Five → Fed’s Williams: No need for rate hike in 2027, BofA hit with $1.2 billion penalty, US house sales drop to 12-year lows, JPMorgan posts rare profit miss, and the Iran war is costing American households $2,000…
📌 Act on Musk's prediction before November 11. He says 99% of compute will go to THIS →
(from Brownstone Research)
Calendar: Full Calendar »
Today:
Consumer Price Index, 8:30A
Tomorrow:
Price Price Index, 8:30A
Retail Sales m/m, 8:30A
Unemployment Claims, 8:30A
Fed Chair Warsh Speaks, 11:30P
Your 5-minute briefing for Wednesday, October 14:
BEFORE THE OPEN
As of market close 10/13/2026.
Pre-Market:
Market Wrap:
Futures: S&P -0.03%, Nasdaq -0.1%
Tue: S&P and Nasdaq fell for a second day
Chip stocks slid for a sixth straight session
Strong bank earnings failed to lift stocks
Semiconductor earnings growth projected at 130%
September CPI expected at 3.6%, up from 3.4%
Focus shifts to CPI, bank earnings, and ASML
EARNINGS
Here’s what we’re watching this week:
Today: *Bank of America $BAC ( ▼ 1.14% ), *BlackRock $BLK ( ▼ 1.64% ), *Morgan Stanley $MS ( ▼ 1.78% )
THU: *Charles Schwab $SCHW ( ▼ 1.15% ), Interactive Brokers $IBKR ( ▼ 0.46% )
"Elon Musk's One Stock Retirement Plan"
Legendary investor Stanley Druckenmiller once said:
“You don't get rich by diversifying into 50 mediocre assets. You get rich by finding two or three asymmetric home runs.”
Jeff Brown just found this NEW asymmetric home run he calls “Elon Musk’s One Stock Retirement Plan.” (Go here for details.)
- A sponsored message from Brownstone Research -
HEADLINES
The New York Fed President still sees one more interest-rate hike as appropriate this year.
Regulators fined Bank of America more than $1.2 billion on Tuesday, the third-largest fine in the Treasury Department's history.
Dow, S&P 500, Nasdaq slip as chip stocks fall, earnings roll in (more)
Fund managers won’t dump stocks for bonds until yields hit 5.9% (more)
Wall Street sees inflation easing even with oil above $90 (more)
Trump’s Russia diesel deal equals less than two weeks of US demand (more)
Saudi Arabia becomes the oil market’s biggest wild card (more)
The Iran war is costing American households $2,000 each (more)
Dollar slips from 18-mo high as oil prices fall, inflation data in focus (more)
Wall Street banks see pockets of weakness due to market turmoil (more)
JPMorgan posts rare profit miss as deals, bond trading lose momentum (more)
Goldman beats quarterly profit estimates on equities strength (more)
Wells Fargo beats profit estimates, but interest income, rev fall short (more)
Citigroup cautious on stocks as market exuberance flashes warning signs (more)
SpaceX stock slammed as AI memory trade crumbles in South Korea (more)
Microsoft reports $130B in data center leases (more)
Google launches flagship AI model Gemini 4 Argon for devs, businesses (more)
Disney strikes $20M deal for Character.ai’s assets in bankruptcy (more)
Kroger to lay off 3,000 corporate employees as it leans into AI (more)
Bumble swipes right on $1.3B go-private deal amid dating industry reset (more)
DEALFLOW
M+A | Investments
AT&T sells Mexico unit to Televisa for $2B
Bumble to delist in $1.3B deal with Ithaca Holdings
Grafine Partners, Atlantic Ridge to acquire Paragon Films for about $900M
Shell to sell its Nigeria gas business to Vaaris Energy
BlackRock replaces WCAS in joint venture with Humana for senior clinics
Reese Witherspoon buys back production firm with Mediawan
Zealand Pharma, Generate strike AI obesity drug deal worth up to $1.2B
Roche strikes licensing deal for $1.16B with Chinese Rona Therapeutics
GreenVest receives investment from Godspeed Capital
VC
Soufflé Therapeutics, a biotech provider of an RNA therapy platform, raised $135M in Series B funding
Mistlabs, a cross-platform ambient intelligence technologies, raised $26M in Pre-A funding
Brellium, an AI-powered clinical compliance platform, raised $23M in venture funding
Switched Source, a developer of grid-enhancing distribution automation technologies, raised over $17M in funding
Sensydia, a medical tech company advancing non-invasive cardiac assessment, raised over $6M in closing of new financing
Dapta, an AI sales agent platform for small and medium-sized businesses, raised $6M in Seed funding
Loops, AI-powered e-commerce management tools, raised $3.5M in Seed funding
Intellivisa, an AI clearance engine for international travel, raised $3M in Pre-Seed funding
Subeca, a provider of hardware and software solutions for utility metering, raised approximately $3M in Series A-2 funding
Sharp Biomedical, a provider of toolsets and implants for spinal care, raised Pre-Seed funding in undisclosed amount
CRYPTO
BULLISH BITES
💥 In the US, a wealth boom and a price shock collide.
💸 What’s dragging down AI efficiency? The ‘verification tax.’
🧘🏻♀️ Gen Z turns college ‘wellness darties’ trend into big business.
🖥️ Nine desk gadgets that can make your workday better.
DAILY SHARES
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