• Market recap: The Dow climbed 530 points yesterday, with Northrop Grumman (NOC) and 3M (MMM) gaining 5–6%. Source: CNBC.
• Musk considers Tesla-SpaceX mega-merger: Elon Musk confirmed that Tesla (TSLA) and SpaceX (SPCX) are exploring a merger, with a combined firm valued at $3.5T. The deal would require shareholder approval and could integrate their AI, chip, and robotics operations. SpaceX rose 8% premarket, with Tesla up 2%. Sources: BBC / Bloomberg.
• Boeing secures approval for 737 Max 10: Boeing (BA) received FAA certification for its largest 737 Max jet after a 6-year delay, clearing the way for deliveries in the coming months. Though the aircraft could help Boeing regain market share, shares are down 12% YTD. Source: NY Times.
• Anthropic reveals soaring revenue and costs: Anthropic's draft IPO filing shows that H1 revenue surged to $16.3B, while its net loss reached $80.7B due largely to accounting charges. Future computing commitments exceed $600B and could reach $750B. Source: WSJ.
• OpenAI accelerates fundraising: OpenAI is reportedly seeking $30B at a valuation exceeding $1.4T before Anthropic's expected November IPO. The company is aiming for $70B in annualized revenue by year-end. Source: Reuters.
• Abbott plans nutrition business spinoff: Abbott Labs (ABT) plans to separate its nutrition unit into a publicly traded company by the end of 2027, following recalls and litigation. Shares fell 4% premarket. Source: Bloomberg.
• Getty goes bankrupt: Getty Images (GETY) filed for Chapter 11 protection after its merger with Shutterstock (SSTK) collapsed amid heavy debt and AI competition. Getty family affiliates and Koch Equity Development will take full ownership, backed by up to $533M in new equity. Source: Reuters.
• Google Cloud outage disrupts U.K. banking: Google (GOOGL) reported cloud service disruptions around London following a power incident. Revolut was among the services affected, with Google shares down 1%. Source: NY Times.
• eBay cuts 9% of workforce: eBay (EBAY) plans to eliminate roughly 1.1K jobs — roughly 9% of its employee total — to streamline operations and redirect investment toward high-growth categories. Source: Reuters.
• Novo drug shows strong weight loss: Novo Nordisk (NVO) reported average weight loss of 25% among women with a new weight loss drug, sending shares up 2.4%. Source: CNBC.
• Walmart launches joint Sam's Club membership: Walmart (WMT) introduced a combined Walmart+ and Sam’s Club Plus membership for $120 annually, nearly $100 less than separate subscriptions. The package includes free delivery, fuel discounts, and streaming benefits. Source: CNBC.
• French bond yields hit 24-year high: France's 10-year government bond yield reached 5% for the first time since 2002, reflecting concerns over rising debt, budget deficits, and political instability. Source: Reuters.

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• Netflix: Netflix (NFLX) fell 6% premarket after cutting its full-year advertising forecast and issuing disappointing Q4 profit guidance. Revenue of $12.87B slightly missed estimates, and shares are down 26% YTD. Source: Reuters.
• Super Micro: Super Micro (SMCI) jumped 12% premarket after forecasting quarterly revenue of $18.5–19.5B, well above estimates of $15.23B. The AI server maker also raised its expected profit margin to 12–12.5%, signaling resilient data center demand. Source: Reuters.
• United: United Airlines (UAL) lowered its 2026 adjusted EPS forecast to no more than $7.22 — down from $9–11 — as surging fuel costs squeezed margins. Although Q3 revenue rose 17.4% to $17.88B and passenger traffic increased over 2%, shares fell 1% premarket. Source: CNBC.

• Mortgage rate falls for first time in 2 months: The 30-year fixed mortgage rate fell to 7.41%, down from 7.50%, in its first decline in 2 months. However, total applications dropped 5.3%, with purchase demand down 7% WoW and 18% YoY, suggesting persistent weakness. Source: CNBC.
• Bond risk premium hits 12-year high: The 10-year Treasury term premium has reached its highest level since 2014, suggesting growing investor uncertainty over inflation, government debt, and geopolitical risks. Economists caution that the increase may reflect risk aversion or technical factors. Source: CNN.
• U.K. inflation tops 11-month high: British inflation rose to 3.5% in September, exceeding forecasts of 3.4% and nearing a 1-year record. Prices on goods climbed at the fastest clip in 3 years. Source: Bloomberg.
• Japanese exports miss forecast: Japan's exports rose 16.7% in September, well below expectations of 20.1%. The report marks a 2nd month of slowing growth, although semiconductor shipments surged 49.4%. Source: CNBC.

• Musk reportedly hampered Ukraine's Starlink access: U.S. officials claim that Elon Musk ordered speed limits on SpaceX's (SPCX) military-grade Starlink service, which disrupted Ukrainian drone operations and air defenses. Musk has asserted it was Trump who mandated the slowdown. Source: WSJ.
• Russia releases American prisoner: Russia freed 74-year-old Stephen Hubbard, imprisoned since 2022 on mercenary charges, following a request from President Trump. U.S. envoy Steve Witkoff lauded Putin as a "humanitarian." Source: NY Times.
• Czech opposition wins Senate: The party of Czech PM Andrej Babis, a right-wing populist, failed to win any contested Senate seats, while pro-European opposition parties made gains. The outcome weakens Babis politically but is unlikely to destabilize his government or derail its policies. Source: Reuters.
• Trump announces $8B in farm aid: President Trump pledged $8B in direct payments to farmers facing soaring fuel costs and tariff pressures. The package may require Congressional approval, with payments unlikely before late November. Source: Politico.
• U.S. taps heating oil reserves to curb prices: The Trump admin. is planning to tap 1/3 of the nation's heating oil reserve to ease shortages and record prices, particularly in New England. Source: Reuters.
• OpenAI CEO wins lawsuit dismissal: A judge dismissed a sexual abuse lawsuit against OpenAI CEO Sam Altman after his sister, Ann Altman, repeatedly failed to attend a court-ordered medical examination. Altman has denied the allegations. Source: BBC.

• 7:00 AM: MBA 30-Year Mortgage Rate
• 10:30 AM: EIA Crude Oil & Gasoline Stocks Change

SpaceX (SPCX) has released its quarterly earnings.

• Revenue of $14.58B (+161.39% YoY) beats by $1.64B.
• EPS of $0.35 beats by $0.19.
• Financials · As Reported · Metrics · Press Release

Netflix (NFLX) has released its quarterly earnings.

• Revenue of $12.87B (+11.85% YoY) misses by $250.09K.
• EPS of $0.87 (+47.46% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Intuitive Surgical (ISRG) has released its quarterly earnings.

• Revenue of $3.05B (+21.70% YoY) beats by $147.25M.
• EPS of $3.00 (+25.00% YoY) beats by $0.46.
• Financials · As Reported · Metrics · Press Release

Chubb (CB) has released its quarterly earnings.

• Revenue of $13.18B (+1.93% YoY) misses by $971.13M.
• EPS of $7.66 (+2.27% YoY) beats by $0.92.
• Financials · As Reported · Metrics · Press Release

Capital One Financial (COF) has released its quarterly earnings.

• Revenue of $16.34B (+6.41% YoY) beats by $128.16M.
• EPS of $6.69 (+12.44% YoY) beats by $1.20.
• Financials · As Reported · Metrics · Press Release

MSCI Inc. (MSCI) has released its quarterly earnings.

• Revenue of $892M (+12.42% YoY) beats by $5.29M.
• EPS of $5.11 (+14.32% YoY) beats by $0.10.
• Financials · As Reported · Metrics · Press Release

United Airlines Holdings (UAL) has released its quarterly earnings.

• Revenue of $17.88B (+17.41% YoY) misses by $12.35M.
• EPS of $2.54 (-8.63% YoY) misses by $0.05.
• Financials · As Reported · Metrics · Press Release

Equifax (EFX) has released its quarterly earnings.

• Revenue of $1.69B (+9.58% YoY) beats by $2.71M.
• EPS of $2.26 (+10.78% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

Philip Morris International (PM) has released its quarterly earnings.

• Revenue of $11.44B (+5.47% YoY) beats by $83.64M.
• EPS of $2.37 (+5.80% YoY) beats by $0.06.
• Financials · As Reported · Metrics · Press Release

Thermo Fisher (TMO) has released its quarterly earnings.

• Revenue of $12.14B (+9.13% YoY) beats by $192.56M.
• EPS of $6.68 (+15.37% YoY) beats by $0.28.
• Financials · As Reported · Metrics · Press Release

Abbott Laboratories (ABT) has released its quarterly earnings.

• Revenue of $13.01B (+14.46% YoY) beats by $26.86M.
• EPS of $1.42 (+9.23% YoY) in line with estimates.
• Financials · As Reported · Metrics · Press Release

NextEra Energy (NEE) has released its quarterly earnings.

• Revenue of $8.09B (+1.56% YoY) misses by $799.74M.
• EPS of $1.24 (+9.73% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

AT&T (T) has released its quarterly earnings.

• Revenue of $32.32B (+5.25% YoY) beats by $669.73M.
• EPS of $0.65 (+20.37% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Danaher (DHR) has released its quarterly earnings.

• Revenue of $6.55B (+8.28% YoY) misses by $3.73M.
• EPS of $2.11 (+11.64% YoY) beats by $0.19.
• Financials · As Reported · Metrics · Press Release

CME Group (CME) has released its quarterly earnings.

• Revenue of $1.74B (+12.96% YoY) beats by $23.91M.
• EPS of $3.02 (+12.69% YoY) beats by $0.04.
• Financials · As Reported · Metrics · Press Release

Elevance Health (ELV) has released its quarterly earnings.

• Revenue of $50.44B (+0.70% YoY) beats by $1.40B.
• EPS of $6.99 (+15.92% YoY) beats by $2.30.
• Financials · As Reported · Metrics · Press Release

Moody's (MCO) has released its quarterly earnings.

• Revenue of $2.02B (+0.80% YoY) misses by $51.11M.
• EPS of $4.14 (+5.61% YoY) misses by $0.11.
• Financials · As Reported · Metrics · Press Release

Westinghouse Air Brake Technologies (WAB) has released its quarterly earnings.

• Revenue of $3.12B (+8.11% YoY) misses by $74.87M.
• EPS of $2.83 (+21.98% YoY) beats by $0.10.
• Financials · As Reported · Metrics · Press Release

Northern Trust (NTRS) has released its quarterly earnings.

• Revenue of $2.29B (+13.28% YoY) beats by $31.11M.
• EPS of $3.40 (+48.47% YoY) beats by $0.56.
• Financials · As Reported · Metrics · Press Release

Teledyne Technologies (TDY) has released its quarterly earnings.

• Revenue of $1.68B (+9.35% YoY) beats by $30.04M.
• EPS of $6.72 (+20.65% YoY) beats by $0.56.
• Financials · As Reported · Metrics · Press Release

Tesla (TSLA) will report today after close.

• Analysts estimate revenue of $28.04B (-0.18% YoY).
• EPS is estimated to be $0.40 (-20.00% YoY).
• Financials · As Reported · Metrics

Meta Platforms (META) will report today after close.

• Analysts estimate revenue of $63.37B (+23.67% YoY).
• EPS is estimated to be $5.74 (-20.83% YoY).
• Financials · As Reported · Metrics

CSX Corporation (CSX) will report today after close.

• Analysts estimate revenue of $3.96B (+10.43% YoY).
• EPS is estimated to be $0.53 (+20.45% YoY).
• Financials · As Reported · Metrics

Old Republic International (ORI) will report tomorrow before market open.

• Analysts estimate revenue of $2.49B (+7.40% YoY).
• EPS is estimated to be $0.78 (0.00% YoY).
• Financials · As Reported · Metrics

FirstCash Holdings (FCFS) will report tomorrow before market open.

• Analysts estimate revenue of $1.07B (+14.89% YoY).
• EPS is estimated to be $2.63 (+16.37% YoY).
• Financials · As Reported · Metrics

Ryder System (R) will report tomorrow before market open.

• Analysts estimate revenue of $3.38B (+6.54% YoY).
• EPS is estimated to be $4.15 (+16.25% YoY).
• Financials · As Reported · Metrics

Cadence Design Systems (CDNS) will report Monday.

• Analysts estimate revenue of $1.61B (+16.06% YoY).
• EPS is estimated to be $1.96 (+1.55% YoY).
• Financials · As Reported · Metrics

Freeport-McMoRan (FCX) will report Tuesday.

• Analysts estimate revenue of $7.34B (+5.24% YoY).
• EPS is estimated to be $0.82 (+64.00% YoY).
• Financials · As Reported · Metrics

Waste Management (WM) will report Tuesday.

• Analysts estimate revenue of $6.81B (+5.73% YoY).
• EPS is estimated to be $2.18 (+10.10% YoY).
• Financials · As Reported · Metrics

Johnson Controls International (JCI) will report Tuesday.

• Analysts estimate revenue of $6.99B (+8.53% YoY).
• EPS is estimated to be $1.56 (+23.81% YoY).
• Financials · As Reported · Metrics

Robinhood (HOOD) will report Tuesday.

• Analysts estimate revenue of $1.43B (+11.92% YoY).
• EPS is estimated to be $0.55 (-9.84% YoY).
• Financials · As Reported · Metrics

American Tower (AMT) will report Tuesday.

• Analysts estimate revenue of $2.76B (+1.63% YoY).
• EPS is estimated to be $2.78 (0.00% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.