• AI giants pursue massive chip financing: Broadcom (AVGO) is seeking over $50B to fund OpenAI chips, while SpaceX (SPCX) and Oracle (ORCL) are also pursuing financing, highlighting AI’s growing capital demands. Source: WSJ.
• Amazon cuts more retail jobs: Amazon (AMZN) laid off fewer than 1,000 corporate employees, primarily in its e-commerce division, following 30,000 job cuts since last year. Source: Reuters.
• Alphabet unit seeks $50B valuation: Alphabet's (GOOGL) Isomorphic Labs is in early funding talks at a $40–$50B valuation, 5 months after raising $2.1B. Partnerships with Eli Lilly (LLY) and Novartis (NVS) highlight growing investment in AI-driven drug discovery. Source: Bloomberg.
• Wells Fargo faces discrimination probe: The Trump administration is investigating Wells Fargo (WFC) over mortgage programs favoring minority borrowers, alleging potential Fair Housing Act violations. Shares fell 1.5% on the news. Source: NY Times.
• Lululemon recruits Athleta CEO: Lululemon (LULU) appointed Athleta (GAP) CEO Maggie Gauger as president and chief product officer amid a leadership overhaul under new CEO Heidi O’Neill. Source: CNBC.
• Goldman executives secure bonuses: Goldman Sachs (GS) is set to award over $500M in equity bonuses to roughly 20 senior executives, including more than $100M for CEO David Solomon. Source: Bloomberg.
• Manus raises $500M after Meta split: AI startup Manus secured over $500M in funding led by Boyu Capital and IDG Capital, reportedly targeting a $4B valuation. The deal signals strong investor appetite for AI agents despite Beijing blocking Meta's (META) $2B acquisition. Source: CNBC.
• Dalio warns of rising equity risks: Ray Dalio warns that rising bond yields are eroding stocks' advantage over bonds, increasing market vulnerability despite strong earnings. He expects corporate free cash flow to weaken and the bond sell-off to continue as governments and companies compete for capital. Source: CNBC.

Alumni Ventures is giving readers early access to high-potential startup opportunities across today’s most active sectors, co-invested alongside name-brand VC firms like Andreessen Horowitz (a16z), Bessemer, & Y Combinator.

You get:

• Curated deal flow of high-potentialstartups
• Invest alongside well known lead venture firms in these deals
• No cost to see deals
• No obligation to invest

• Samsung: Samsung (KRX:005930) expects Q3 operating profit to surge nearly ninefold to a record $80.2B, marking its fourth consecutive record quarter, driven by strong AI chip demand. Shares fell 2.4% as results fell short of elevated investor expectations. Sources: WSJ / BBC.
• PepsiCo: PepsiCo (PEP) lowered its 2026 adjusted earnings growth forecast to 1%–2%, down from 4%–6%, amid weak North American performance. Q3 revenue rose 5.6% to $25.27B, beating estimates, as international sales helped offset domestic weakness. Source: WSJ.
• Levi Strauss: Levi Strauss (LEVI) raised its full-year adjusted EPS forecast to $1.54–$1.56 after quarterly earnings beat estimates. The company plans to reinvest $60M in tariff refunds to revive direct-to-consumer sales, which weakened in the U.S. and Europe. Source: WSJ.
• Constellation: Constellation Brands (STZ) reported quarterly EPS of $3.74 on $2.63B in revenue, beating forecasts. Beer sales rose 5%, but underlying demand remained soft. The company is acquiring SpikedAde to expand into fast-growing ready-to-drink cocktails. Source: CNBC.
• TSMC: Taiwan Semiconductor Manufacturing (TSM) reported record Q3 revenue of $46.71B, up 50% YoY and above forecasts of $45.8B, driven by surging AI chip demand. Source: Reuters.

• Oil prices surge amid supply disruptions: Brent crude jumped 5% to $105.20 a barrel as escalating tanker attacks in the Strait of Hormuz and hurricane-related U.S. production shutdowns fueled supply fears. Gulf of Mexico producers halted 25% of oil output. Source: Reuters.
• IEA accelerates emergency oil releases: The IEA agreed to speed up the release of 100M barrels of previously pledged oil reserves, prioritizing diesel to ease record fuel prices and supply disruptions. Source: Reuters.
• China's property market may recover: S&P Global Ratings (SPGI) expects Chinese home prices to hit bottom by Q3 2028, with major cities potentially recovering in 2027. Supply cuts and mortgage subsidies are supporting stabilization after a 22% price decline since 2021, though demand remains uncertain. Source: CNBC.
• Germany raises economic growth forecasts: Germany raised its 2026 GDP growth forecast to 1.3%, up from 0.5%, and its 2027 outlook to 1.1%, supported by infrastructure and defense spending. Inflation is projected at 2.7% in 2026 and 3.0% in 2027. Source: Reuters.
• Mexican auto exports slump amid tariffs: Mexico's auto exports fell 12% YoY in September, while production dropped 15%, as U.S. tariffs disrupted supply chains. Source: Reuters.

• Fed signals further rate hikes: Federal Reserve minutes show broad support for more tightening after September’s quarter-point hike to 3.75%–4%. Most officials expect another increase this year. Source: NY Times.
• Fed study links tariffs to inflation: A New York Fed study found that Trump's tariffs raised prices across 67 consumer goods categories by 2.9 percentage points as of February. Without tariffs, prices would have fallen nearly 1%. Source: CNBC.
• Farm debt hits record highs: Farm debt has reached a record $605B, but growing reliance on nontraditional lenders suggests actual borrowing may be significantly higher. Rising bankruptcies, weak crop prices, and mounting input costs threaten agricultural lenders and the broader agribusiness sector. Source: Reuters.
• Heating oil costs surge: Heating oil prices are expected to rise 34% to $5.26 per gallon this winter, pushing average household bills up 21% to $2,115. Tight diesel supplies and refinery disruptions are driving costs higher, particularly in the Northeast. Source: CNBC.
• Used car prices weaken: Wholesale used vehicle prices fell 1.95% in Q3, prompting Cox Automotive to cut its 2026 price growth forecast to 0.2% from 2%. High fuel costs are boosting demand for EVs and smaller cars while weighing on trucks and SUVs. Source: CNBC.
• Jobless claims: Seasonally adjusted initial jobless claims totaled 197,000 for the week ending Oct. 3, down 2,000 WoW. The 4-week moving average was 198,000, down 2,500 WoW. Source: Dept. of Labor.

• Pentagon prepares U.S. forces: The Pentagon has ordered U.S. forces to prepare for potential strikes on Iran, possibly before the midterms. Trump has reportedly not yet made a final decision. Source: Axios.
• Russia-Ukraine war latest: A Russian glide bomb attack on civilian buses in Kramatorsk killed 33 people and wounded 18, Ukrainian officials said. Meanwhile, Russia's Yandex suspended operations at a major data center after a drone attack sparked a fire. Sources: BBC / CNBC.
• France releases diesel reserves amid unrest: France will release 10M barrels of diesel reserves to cut pump prices by €0.12–€0.18 per litre as student protests intensify. The move adds fiscal pressure as the government seeks €43B in spending cuts and 10-year bond yields approach 4.9%. Sources: CNBC / NY Times.
• U.S. states challenge abortion pill access: Louisiana, Alabama, and Arkansas filed lawsuits seeking to restrict abortion pills mailed from other states, invoking public nuisance laws and challenging protections for providers. The cases could reshape telehealth abortion access and interstate healthcare regulation. Source: Reuters.
• Hurricane Isaias threatens Gulf oil supply: Hurricane Isaias is intensifying ahead of an expected Friday or Saturday landfall on the U.S. Gulf Coast. Offshore shutdowns have halted 25% of regional oil output, or 511,000 barrels daily. Source: AP.

• 8:30 AM: Initial Jobless Claims
• 11:00 AM: Atlanta Fed GDPNow
• Friday: Michigan Consumer Sentiment Prelim.

PepsiCo (PEP) has released its quarterly earnings.

• Revenue of $25.27B (+5.59% YoY) beats by $331.72M.
• EPS of $2.34 (+2.18% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Levi Strauss & Co. (LEVI) has released its quarterly earnings.

• Revenue of $1.61B (+4.32% YoY) misses by $5.32M.
• EPS of $0.48 (+41.18% YoY) beats by $0.12.
• Financials · As Reported · Metrics · Press Release

Applied Digital (APLD) has released its quarterly earnings.

• Revenue of $300.39M (+367.79% YoY) beats by $173.92M.
• EPS of -$0.01 beats by $0.28.
• Financials · As Reported · Metrics · Press Release

Delta Air Lines (DAL) will report tomorrow before market open.

• Analysts estimate revenue of $18.67B (+11.95% YoY).
• EPS is estimated to be $1.90 (+11.11% YoY).
• Financials · As Reported · Metrics

JPMorgan Chase (JPM) will report Tuesday.

• Analysts estimate revenue of $51.36B (+9.00% YoY).
• EPS is estimated to be $5.91 (+16.57% YoY).
• Financials · As Reported · Metrics

Johnson & Johnson (JNJ) will report Tuesday.

• Analysts estimate revenue of $25.35B (+5.67% YoY).
• EPS is estimated to be $2.58 (-7.86% YoY).
• Financials · As Reported · Metrics

UnitedHealth Group (UNH) will report Tuesday.

• Analysts estimate revenue of $111.47B (-1.50% YoY).
• EPS is estimated to be $4.14 (+41.78% YoY).
• Financials · As Reported · Metrics

The Goldman Sachs Group (GS) will report Tuesday.

• Analysts estimate revenue of $17.00B (+11.99% YoY).
• EPS is estimated to be $13.79 (+12.57% YoY).
• Financials · As Reported · Metrics

Wells Fargo & Company (WFC) will report Tuesday.

• Analysts estimate revenue of $22.31B (+4.08% YoY).
• EPS is estimated to be $1.85 (+6.94% YoY).
• Financials · As Reported · Metrics

Citigroup (C) will report Tuesday.

• Analysts estimate revenue of $23.71B (+7.33% YoY).
• EPS is estimated to be $2.63 (+17.41% YoY).
• Financials · As Reported · Metrics

ASML Holding (ASML) will report Wednesday.

• Analysts estimate revenue of $13.18B (+49.98% YoY).
• EPS is estimated to be $12.47 (+94.24% YoY).
• Financials · As Reported · Metrics

Bank of America (BAC) will report Wednesday.

• Analysts estimate revenue of $30.63B (+8.45% YoY).
• EPS is estimated to be $1.12 (+5.66% YoY).
• Financials · As Reported · Metrics

Morgan Stanley (MS) will report Wednesday.

• Analysts estimate revenue of $20.16B (+10.77% YoY).
• EPS is estimated to be $2.95 (+5.36% YoY).
• Financials · As Reported · Metrics

BlackRock (BLK) will report Wednesday.

• Analysts estimate revenue of $7.51B (+15.42% YoY).
• EPS is estimated to be $14.15 (+22.51% YoY).
• Financials · As Reported · Metrics

• Estimated Friday, Oct. 9: Retension Pharmaceuticals, Inc. (RTSN), a clinical-stage biopharma firm focused on cardiovascular medicines.
• Estimated Friday, Oct. 9: TRex Bio, Inc. (TRXB), a clinical-stage biopharma company developing medicines for autoimmune and inflammatory diseases.