Trust eroding?

'Very speculative, very frothy’ market poses risks, gold rally signals eroding trust in the US, Fed minutes signal more rate cuts coming this year, First Brands bankruptcy damage spreads, Polymarket founder youngest self-made billionaire after new deal...

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Market Briefing
October 09, 2025

 

Good morning.

The Fast Five → 'Very speculative, very frothy’ market poses risks, gold rally signals eroding trust in the US, Fed minutes signal more rate cuts coming this year, First Brands bankruptcy damage spreads, Polymarket founder youngest self-made billionaire after new deal…

📌 Forget NVIDIA. Forget Tesla. Forget Bitcoin. The real story isn't any of them. It's a tiny, obscure company most Americans have never heard of. But behind closed doors, this company controls nearly 7,000 patents so powerful, the US government called them "vital to national security." Patents NVIDIA, Apple, Google, and Amazon must all license. And on November 19th at 5PM, NVIDIA is set to unveil its most powerful Superchip yet. Go here now to see Dylan's report before this stock hits the front page → (Behind The Markets)

Calendar: (*Shutdown may affect key data. All times ET) - Full Calendar

  • Today:
    *Unemployment Claims, 8:30A

  • Tomorrow:
    Prelim Consumer Sentiment, 10A
    Prelim Inflation Expectations, 10A

Your 5-minute briefing for Thursday, Oct 9:

BEFORE THE OPEN

As of market close 10/8/2025.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 42.92% for Week of OCT 02 2025

Previous week: 41.73%

Market Wrap:

  • Futures flat: Dow +17, S&P and Nasdaq near unchanged.

  • S&P notched 8th gain in 9 days; Nasdaq topped 23,000.

  • Dow lagged, but Nvidia +2% helped cap losses.

  • CEO Jensen Huang: computing demand “up substantially.”

  • No key data Thursday due to ongoing shutdown.

  • Powell, Bowman, Daly to speak; Fed divisions linger.

  • Earnings from Delta and PepsiCo before the bell.

EARNINGS

Here’s what we’re watching this week:

Bloomberg Won’t Tell You This—

Bloomberg says AI is a $50 trillion revolution.

And at the center of it… isn't NVIDIA.

It's a tiny supplier NVIDIA cannot live without.

This firm controls nearly 7,000 patents on the technology powering NVIDIA's new Blackwell and THOR Superchips.

Patents so critical, the U.S. government blocked NVIDIA's attempt to buy the company outright - calling the tech "vital to national security."

Now insiders like Ken Griffin and Stanley Druckenmiller are dumping NVIDIA shares… and quietly piling into this obscure stock.

And with NVIDIA set to make a major announcement on November 19th at 5pm, time is running out.

-Dylan Jovine, CEO & Founder
Behind the Marketsh

HEADLINES

Gold — typically a safe-haven in times of turmoil — is soaring at the same time the stock market is hitting new highs, an unusual dynamic that is troubling some market insiders.

Stocks are near records, but sentiment gauges show growing euphoria — a potential warning sign.

  • S&P 500, Nasdaq resume rally to records (more)

  • Fed minutes signal more rate cuts to come this year (more)

  • Senate to vote on funding bills again as gov’t shutdown enters second week (more)

  • US imports seen well below average for rest of 2025 (more)

  • Bond traders see data whirlwind shattering shutdown-induced calm (more)

  • Dollar distrust is driving gold, Bitcoin rallies (more)

  • Oil climbs as US product stockpiles drop and equities advance (more)

  • 'Debasement trade' continues as gold soars to new heights (more)

  • Nvidia shares rise after CEO Huang says AI demand is up ‘substantially’ (more)

  • Meme stock rebound prompts return of central meme investment fund (more)

  • Verizon signs deal with AST SpaceMobile to provide service from space (more)

  • Salesforce to spend $1 bln in Mexico next five years to drive AI adoption (more)

  • First Brands bankruptcy damage spreads to Jefferies, UBS (more)

    • BlackRock seeks cash from Jefferies fund exposed to First Brands (more)

  • SoftBank bulks up its robotics portfolio with ABB Group’s robotics unit (more)

  • Polymarket founder youngest self-made billionaire after new deal (more)

DEALFLOW

M+A | Investments

  • SoftBank to buy ABB's robot business for $5.4B

  • Roofing material firm TopBuild buys rival SPI

  • Sembcorp to acquire India's ReNew solar unit

  • IonQ acquires Vector Atomic

VC

  • Base Power, an energy company, raised $1B in its Series C funding round

  • Glue, a platform for agentic team chat, raised $20M in funding

  • HiOctave, an AI software company helping SMBs automate customer experience, raised $15M in funding

  • AiPrise, a company building the operating system for global compliance, raised $12.5M in Series A funding

  • Zingage, an AI care delivery platform for home care, raised $12.5M in Seed funding

  • QuoteWell, a tech-driven wholesale insurance brokerage, raised an additional $12M in funding

  • ConCntric, an AI-powered preconstruction platform, raised $10M in Series A funding

  • Appy.AI, an AI business creation platform, raised $5M in Seed funding

  • Neuronoff, a clinical-stage medical device company, raised $4.5M in funding

  • Reo.Dev, an intent platform built for developer-first software companies, raised $4M in Seed funding

  • Increase Alpha, a fintech startup using predictive AI, raised $3.5M in Seed funding

CRYPTO

  • Bitcoin and Ether ETFs saw big inflows this week as investors bought dip (more)

  • Bitcoin rebounds toward range highs as data highlights ‘real liquidity’ (more)

  • US Senators get 250K letters calling for protection of stablecoin yields (more)

BULLISH BITES

🚨  Why the Bitcoin trade 'is too large to ignore'.

🤖 How the Fed would respond to AI-pocalypse.

🚁 Forgot something? Walmart will deliver it by drone — after a TSA security check.

👀 Hold up, did Cartier just make a badass sports watch?

DAILY SHARES

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