BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑33.86% for Week of OCT 23 2025

Market Wrap:

• Futures flat: Dow +15, S&P flat, Nasdaq +0.1%.

• S&P closed above 6,800 for first time; all major indexes hit records.

• Trump–Xi meeting Thursday; trade deal covers minerals, soybeans, TikTok.

• Fed meeting starts Tuesday; second rate cut expected Wednesday.

• “Mag 7” earnings ahead: Alphabet, Amazon, Apple, Meta, Microsoft.

• Amazon to begin biggest layoffs in its history Tuesday.

• LPL’s Turnquist: strong earnings, easing inflation, rate cuts fuel rally.

EARNINGS

Here’s what we’re watching this week:

• Today: *JetBlue $JBLU ( ▼ 11.86% ), *PayPal $PYPL, SoFi $SOFI ( ▲ 5.53% ), *UnitedHealth $UNH ( ▲ 0.51% ), UPS $UPS ( ▲ 8.0% ), Visa $V ( ▼ 0.27% ), *Wayfair $W ( ▲ 23.22% )

• WED: *Boeing $BA ( ▲ 0.15% ), Chipotle $CMG ( ▼ 1.95% ), Meta $META ( ▲ 0.08% ), Microsoft $MSFT ( ▲ 1.99% ), Starbucks $SBUX ( ▼ 2.05% ), *Verizon $VZ ( ▲ 0.23% )

  • *Alphabet $GOOGL ( ▼ 0.67% ) - $2.28 EPS (+7.5% YoY) on $100B revenue (+13.2% YoY)

• THU: *Eli Lilly $LLY ( ▼ 0.76% ), Estee Lauder $EL ( ▼ 1.69% ), Reddit $RDDT ( ▼ 2.86% ), *Roblox $RBLX ( ▲ 2.51% ), *Roku $ROKU ( ▲ 0.2% ), Shake Shack $SHAK ( ▼ 2.33% ), *SiriusXM $SIRI ( ▼ 1.06% )

  • Amazon $AMZN ( ▲ 1.01% ) - $1.56 EPS (+9.1% YoY) on $177.7B revenue (+11.8% YoY)

  • Apple $AAPL ( ▲ 0.07% ) - $1.76 EPS (+81.4% YoY) on $102.1B revenue (+7.6% YoY)

• FRI: *Chevron $CVX ( ▼ 0.74% ), *Exxon $XOM ( ▼ 0.79% )

Full calendar here »

A MESSAGE FROM SURF LAKES

When Thor Speaks, Investors Pay Attention

Topgolf revolutionized golf by turning it into a social, tech-driven game for anyone. And they’ve made billions in annual revenue doing it. Surf Lakes is applying that same model to surfing, and investors can still join them until 10/30 at 11:59 PM PT.

_{This is a paid advertisement for Surf Lakes’ Regulation CF offering. Please read the offering circular at https://invest.surflakes.com}

HEADLINES

Amazon to Announce Largest Layoffs in Company History

Qualcomm Stock Soars on New Chips to Rival Nvidia, AMD

• Wall St scales fresh highs on tech earnings, US-China trade optimism (more)

• Fed poised to cut rates this week, with more easing likely on tap (more)

• US Dept of Energy forms $1 bln supercomputer and AI partnership with AMD (more)

• Gold declines to $4,000 amid sell-off (more)

• Tesla chair: Elon Musk could leave Tesla without $1 trillion pay package (more)

• OpenAI’s spending spree has Wall St focused on capex in Big Tech earnings (more)

• Google to buy power from NextEra Nuclear Plant being revived (more)

• Berkshire Hathaway downgraded to sell by KBW, citing Buffett succession (more)

• Robinhood stock pops 5% as analyst raises price target (more)

• Lululemon is partnering with the NFL to release apparel for all 32 teams (more)

• Chegg slashes 45% of workforce, blames ‘new realities of AI’ (more)

• Paramount to Ax 1,000 jobs Wednesday in first round of cuts (more)

• Blackstone and Apollo court small-time investors they used to snub (more)

DEALFLOW

M+A | Investments

• Apollo and KKR inject $7 billion into Keurig Dr Pepper

• Regional lender Huntington to buy smaller rival Cadence Bank in $7.4B deal

• Gravity acquires Cityspan

• Janus RX receives investment from FFL Partners

• Linen Cloud receives investment from enterprise tech leaders

• XNRGY climate systems receives growth investment

VC

• Mercor, a startup that connects AI labs with experts for training their AI models, raised $350M in Series C funding

• SavvyMoney, a provider of financial wellness and growth solutions, received a $225M minority investment

• Seneca, a resilience technology and infrastructure company, raised $60M in funding

• CourtReserve, a club management software platform provider, received a $54M strategic growth investment

• Natural, a fintech company building the infrastructure powering agentic payments, raised $9.8M in Seed funding

• PodPlay Technologies, Inc., a SaaS platform for participatory sports venues, announced the closing of an $8M Series A funding round

• VitVio, an AI-powered platform that autonomously coordinates operating room staff closed an $8M Seed funding round

• WorkHero, an AI-powered back-office for small HVAC contractors, raised $5M in Seed funding

• Paygentic, an AI-powered billing and payments infrastructure startup, raised $2M in Pre-Seed funding

"AI Energy" Could Be Worth Trillions
It has enough power to fuel our economy for decades... with zero need for foreign oil. A small group of US stocks own the rights to it.
Learn about the American companies supplying this new "AI Energy" here »

- a message from Altimetry -

CRYPTO

• S&P hits Saylor's Strategy with B- ‘junk bond’ rating (more)

• IBM unveils digital asset platform as demand for tokenization grows (more)

• Citi taps Coinbase to explore stablecoin payments for clients (more)

• Japan sees launch of its first yen-backed stablecoin, JPYC (more)

BULLISH BITES

📈 Warren Buffett's strangest AI investment. * 

🤖  The US must act fast to win the AI race.

⌛️ Americans face a retirement ‘confidence paradox’—How to gauge readiness.

🤦🏻‍♂️ The next legal frontier is your face and AI.

🍇 Grape Camp: Where wine lovers pay big bucks to do hard labor.

DAILY SHARES

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