• Market recap: All 3 main indices gained yesterday, with the Dow in particular surging 556 points. Nike (NKE) climbed 5% and Micron (MU) 2%, though Western Digital (WDC) and Seagate (STX) fell 2–3%. Source: CNBC.
• Tesla unveils flying Roadster prototype: Tesla (TSLA) showed off its next-gen Roadster that is capable of brief flight using SpaceX (SPCX) tech, as well as driving upside down and going from 0–60 mph in under 1 second. Shares gained 4% premarket. Source: The Verge.
• CoreWeave sees largest gain in 1 month: CoreWeave (CRWV) rebounded 6% yesterday after Nvidia's (NVDA) CEO noted confidence in the company despite steep recent declines. Still, shares slumped 5% premarket. Source: Bloomberg.
• Netflix replaces chief content officer: Netflix (NFLX) appointed onetime Fox (FOXA) and Disney (DIS) exec Peter Rice to replace Bela Bajaria as chief content officer amid slowing growth and declining engagement. Shares fell 3.4% premarket. Source: NY Times.
• Circle targets 40 new markets: Circle (CRCL) plans to expand into roughly 40 emerging markets as stablecoin adoption accelerates. Shares gained 9%. Source: Reuters.
• UBS weighs Switzerland exit: UBS (UBS) is reportedly exploring relocating its headquarters or pursuing a merger if Switzerland imposes tougher capital requirements, estimated to cost $16B. Shares are down 10% MoM. Source: WSJ.
• Lyft launches premium travel brand: Lyft (LYFT) unveiled Alcove, a chauffeur service targeting corporate travelers and competing with Uber's (UBER) Elite. Lyft gained 4% on the news. Source: Business Insider.
• Expedia faces hotel pricing lawsuit: Expedia (EXPE) has been slapped with a class-action lawsuit alleging that its pricing restrictions inflated hotel rates by 15–30%. The suit claims antitrust violations, which the company denies. Shares rose 6%. Source: NY Times.
• Alcoa's profit more than doubles: Alcoa (AA) reported Q3 profit of $483M, up from $232M YoY, with adjusted EPS of $1.82 beating estimates of $1.51. Revenue rose 24% to $3.7B, with shares up 2.2% premarket. Source: WSJ.
• Apple and Meta partner on AI: Apple (AAPL) and Meta (META) are collaborating to run Meta’s Muse Spark model locally on high-end Mac Studios. The partnership could boost Mac hardware demand. Source: CNBC.
• Penske Automotive agrees to buyout: Penske Automotive (PAG) agreed to a $4B take-private deal with Penske Corp. and Mitsui (TYO:8031) at $212 per share. Shares popped 9% on the news. Source: WSJ.
• KFC switches to Coke: KFC, which is owned by Yum Brands (YUM), will replace Pepsi (PEP) beverages with Coke (KO) products across its U.S. restaurants by the end of Q1 2027. Coca-Cola gained 1% premarket. Source: CNBC.

• Indonesian market plunges: Indonesian stocks plummeted over 11% in their worst 1-day drop since 1998, following a warning from MSCI (MSCI) that it could remove the country from its indexes. The market is already down 40% YTD. Source: NY Times.
• China intervenes to stabilize stocks: Chinese regulators are reportedly urging state funds and companies to buy shares while discouraging institutional selling. The intervention follows a 10% YTD decline in the benchmark index. Source: Bloomberg.

• Fed chair keeps Oct. decision open: Fed Chair Kevin Warsh declined to suggest whether rates will rise at the end of this month despite stronger-than-expected inflation. Still, most market watchers expect the Fed to hold rates. Sources: WSJ / Bloomberg.
• Retail sales beat forecasts: U.S. retail sales rose 0.8% in September, beating forecasts of 0.3% — though gains were largely driven by a 6.4% jump in gas sales. Excluding gas stations, sales inched up just 0.2%. Source: AP.
• Mortgage rates hold at 7.4%: The average 30-year fixed mortgage rate stayed steady at 7.4% — its highest since 2023 and up from 6.27% this time last year. Source: NY Times.
• Gas prices remain elevated: The average U.S. gallon of gas slipped to $4.33, down $0.03 WoW but up $1.27 YoY. Crude oil near $100 per barrel continues to pressure consumers, while U.S. crude inventories fell by 8.6M barrels. Source: AAA.
• Business inventories line up with expectations: U.S. business inventories rose 0.4% in August, matching forecasts, while sales jumped 1.1%. Source: Reuters.
• European factories sag: Eurozone industrial production fell 0.5% in August, missing forecasts for a 0.2% gain and marking a 3rd consecutive monthly decline. Source: WSJ.

• Musk blames White House for Starlink restrictions: Elon Musk insinuated that the DoD or President Trump restricted military-grade Starlink (SPCX) internet for Ukraine following Kyiv's claims of disruptions to drone operations. Connectivity has been partially — though not fully — restored. Source: BBC.
• Taiwan tightens AI chip export controls: Taiwan plans to restrict exports of advanced AI chips and servers to China, aligning with U.S. trade rules. Unauthorized shipments could become criminal offenses. Source: Bloomberg.
• Brazil forces Meta to ensure election fairness: Following charges of algorithmic bias, a Brazilian judge ordered Meta (META) to ensure equal treatment of the nation's presidential candidates ahead of an Oct. 25 runoff. Source: AP.
• Social Security benefits to rise 3.6%: U.S. retirees will receive 3.6% more in Social Security payments starting next year, lifting benefits by $75 per month. It's the biggest increase since 2023. Sources: CNBC / The Hill.
• 3 kids die in school shooting: A 16-year-old gunman killed 3 children and a teacher at an elementary school in Bend, OR. Two others were critically injured before an armed community member killed the attacker. Source: Reuters.

• 8:30 AM: Export & Import Prices MoM
• 9:15 AM: Industrial Production MoM
• 2:00 PM: Monthly Budget Statement
• 4:00 PM: Net Long-term TIC Flows

Interactive Brokers Group (IBKR) has released its quarterly earnings.

• Revenue of $1.91B (+15.65% YoY) beats by $60.95M.
• EPS of $0.67 (+17.54% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

J.B. Hunt Transport Services (JBHT) has released its quarterly earnings.

• Revenue of $3.68B (+20.62% YoY) beats by $100.35M.
• EPS of $1.82 (+3.41% YoY) beats by $0.01.
• Financials · As Reported · Metrics · Press Release

The Travelers Companies (TRV) has released its quarterly earnings.

• Revenue of $12.41B (-0.47% YoY) beats by $1.12B.
• EPS of $9.18 (+12.78% YoY) beats by $1.83.
• Financials · As Reported · Metrics · Press Release

Truist Financial (TFC) has released its quarterly earnings.

• Revenue of $5.30B (+1.22% YoY) misses by $45.39M.
• EPS of $1.16 (+11.54% YoY) misses by $0.04.
• Financials · As Reported · Metrics · Press Release

M&T Bank (MTB) has released its quarterly earnings.

• Revenue of $2.54B (+0.92% YoY) beats by $7.82M.
• EPS of $5.08 (+4.31% YoY) beats by $0.14.
• Financials · As Reported · Metrics · Press Release

Citizens Financial Group (CFG) has released its quarterly earnings.

• Revenue of $2.32B (+9.63% YoY) misses by $15.36M.
• EPS of $1.41 (+34.29% YoY) beats by $0.03.
• Financials · As Reported · Metrics · Press Release

Regions Financial (RF) has released its quarterly earnings.

• Revenue of $1.99B (+2.42% YoY) misses by $5.67M.
• EPS of $0.73 (+15.87% YoY) beats by $0.07.
• Financials · As Reported · Metrics · Press Release

3M Company (MMM) will report Tuesday.

• Analysts estimate revenue of $6.61B (+4.89% YoY).
• EPS is estimated to be $2.39 (+9.13% YoY).
• Financials · As Reported · Metrics

General Motors Company (GM) will report Tuesday.

• Analysts estimate revenue of $48.58B (-0.03% YoY).
• EPS is estimated to be $3.59 (+28.21% YoY).
• Financials · As Reported · Metrics

Tesla (TSLA) will report Wednesday.

• Analysts estimate revenue of $28.05B (-0.17% YoY).
• EPS is estimated to be $0.40 (-20.00% YoY).
• Financials · As Reported · Metrics

Meta Platforms (META) will report Wednesday.

• Analysts estimate revenue of $63.31B (+23.55% YoY).
• EPS is estimated to be $6.09 (-16.00% YoY).
• Financials · As Reported · Metrics

Elevance Health (ELV) will report Wednesday.

• Analysts estimate revenue of $49.05B (-2.07% YoY).
• EPS is estimated to be $4.69 (-22.22% YoY).
• Financials · As Reported · Metrics

CSX Corporation (CSX) will report Wednesday.

• Analysts estimate revenue of $3.96B (+10.28% YoY).
• EPS is estimated to be $0.53 (+20.45% YoY).
• Financials · As Reported · Metrics

Moody's (MCO) will report Wednesday.

• Analysts estimate revenue of $2.07B (+3.16% YoY).
• EPS is estimated to be $4.24 (+8.16% YoY).
• Financials · As Reported · Metrics

Kinder Morgan (KMI) will report Wednesday.

• Analysts estimate revenue of $4.38B (+5.71% YoY).
• EPS is estimated to be $0.33 (+13.79% YoY).
• Financials · As Reported · Metrics

Comcast (CMCSA) will report Thursday.

• Analysts estimate revenue of $29.23B (-6.31% YoY).
• EPS is estimated to be $0.99 (-11.61% YoY).
• Financials · As Reported · Metrics

Barclays (BCS) will report Thursday.

• Analysts estimate revenue of $10.18B (+5.32% YoY).
• EPS is estimated to be $0.69 (+64.29% YoY).
• Financials · As Reported · Metrics

Norfolk Southern (NSC) will report Thursday.

• Analysts estimate revenue of $3.48B (+12.13% YoY).
• EPS is estimated to be $3.50 (+6.06% YoY).
• Financials · As Reported · Metrics

• Confirmed today: City Therapeutics, Inc. (CTY), a clinical-stage biotech company focused on RNA interference with $14.34M in TTM revenue and 388.2% revenue growth YoY.