Good morning investors! Stocks continue to impress investors as the AI wave runs higher.
Today we cover:
The shutdown continues
OpenAI makes major announcements
A look at the car market
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📊 Economy and News
US Government Shutdown Drags On as Senate Rejects Funding Bill
The U.S. government shutdown entered its sixth day as the Senate failed to pass a House bill to temporarily fund the government for the fifth time. The 52-42 vote, largely along party lines, highlighted the ongoing stalemate between Republicans and Democrats over funding terms. The proposed measure would have extended funding until November 21.
Only three Democratic caucus members—Senators John Fetterman (PA), Catherine Cortez Masto (NV), and Angus King (ME)—voted with Republicans, while Sen. Rand Paul (R-KY) joined Democrats in opposing the bill. A minimum of eight Democratic votes is needed to meet the 60-vote threshold to advance the legislation.
The Trump administration has warned of potential mass layoffs of federal workers if the shutdown persists.
Global hits:
Eli Lilly to invest over $1 billion in India to expand manufacturing capacity, as U.S. tech giants hit pause on India data center deals under weight of trade uncertainty.
Trump to impose 25% tariff on imported medium and heavy duty trucks.
Gold set to become Australia’s second-biggest resource earner.
French turmoil: French politics jolted markets after Prime Minister Sébastien Lecornu resigned just hours after naming a cabinet; President Emmanuel Macron asked him to pursue 48 hours of talks as equities and the euro wobbled.
Reminder: Fifth Third will buy Comerica for $10.9 billion in stock, creating the ninth-largest U.S. bank by assets. Also, U.S. consumer concerns about inflation at lowest level since early 2022. Furthermore, the 2025 box office is headed for its best post-Covid haul as winter releases heat up.
Good to know: Online spending is expected to jump 5.3% year over year to a total of $253.4 billion That growth still would mark a slowdown from the year-ago holiday period, when online sales surged 8.7%.
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📈 Stocks
S&P 500 6,740.28 (+0.36%)
DJIA 46,694.97 (-0.14%)
NASDAQ 22,941.67 (+0.71%)
BRENT CRUDE 65.47 (+0.94%)
* Prices as of Oct 7th, 12:20 AM UTC
OpenAI is creating winners – next’s AMD
OpenAI and AMD have struck a deal where OpenAI could acquire a 10% stake in AMD via a warrant for up to 160 million shares, tied to deployment and share price milestones.
AMD’s stock surged nearly 25% after the announcement. OpenAI will deploy up to 6 gigawatts of AMD Instinct GPUs starting in 2026, with a 1-gigawatt initial rollout, marking one of the largest GPU deployment deals in AI.
Valued in billions, the partnership positions AMD as a key OpenAI ally, reducing reliance on single vendors and easing supply chain pressures. This follows OpenAI’s $100 billion equity-and-supply deal with Nvidia, which saw Nvidia take a stake in OpenAI; Nvidia’s shares dipped 1% post-announcement. OpenAI is also exploring custom chip development with Broadcom.
Additionally, ChatGPT will integrate Figma task-running capabilities, boosting Figma’s stock by 16%. OpenAI CEO Sam Altman hinted at upcoming monetization options.
Something about cars: Chinese electric car behemoth BYD reported 11,271 car sales in the U.K. last month, making the country its largest international market.
Prices of the BYD Dolphin start at just over £26,000 ($34,913) in the U.K., compared to Tesla’s Model 3 which costs around £40,000 — although it has plans for a more affordable model.
BYD’s U.K. sales boost comes despite Chinese carmakers being excluded from the British government’s electric car grant.
Elsewhere, Tesla posted a teaser video on X sparking speculation that the company could finally be about to launch the next-generation Roadster or a mass market model. This helped the stock gain 5%.
The video ends with the numbers “10/7,” indicating Tuesday’s date.
Musk teased the next-generation Roadster concept back at an event in November 2017, and in June 2018 in a series of tweets.
Lastly, Aston Martin shares fell 10% as luxury carmaker issues fresh profit warning on tariff turmoil.
Check this: Verizon names former PayPal boss Dan Schulman as new CEO, replacing Hans Vestberg. Also, CEO thinks that Nike’s turnaround will ‘take a while’ amid stock slump.
In other news, Modelo owner Constellation Brands reported fiscal second-quarter earnings Monday, reiterating a lower full-year guidance due to macroeconomic headwinds.
💵 Personal Finance
Rebalancing when stocks and gold hit highs
Today is a good time to check your mix and rebalance back to target.
A simple rule is to set “bands” and only trade if an allocation drifts beyond them, which research shows can improve risk-adjusted outcomes versus rigid calendar schedules. Vanguard’s threshold-based studies for multi-asset and target-date funds outline why bands help reduce unnecessary turnover while keeping risk in line.
How wide should your bands be? A common starting point is the 5/25 framework: rebalance if a major sleeve is 5 percentage points off target or if a smaller sleeve moves 25 percent relative to its target weight. It’s simple, behavior-friendly, and keeps you from reacting to every wiggle.
Where to trade first: use tax-deferred accounts when possible so you can make changes without realizing capital gains. If you must sell in taxable accounts, harvest losses to offset gains or direct new contributions to underweight assets to “rebalance with cash.” Morningstar’s guidance emphasizes prioritizing tax-advantaged moves and minimizing frictions.
Cash and short-term reserves: confirm deposit coverage before moving large balances. FDIC insurance generally covers $250,000 per depositor, per bank, per ownership category, with updated trust-account limits that cap out at $1,250,000 per owner when five or more beneficiaries are named.
If you need inflation protection for a portion of “safe” money, I Bonds are still worth a look for tax-advantaged compounding, though purchase caps and current composite rates mean they’re complements, not substitutes, for T-bills or money funds. You can buy up to $10,000 per person per year via TreasuryDirect, and current rate tables and auction calendars are posted online.
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.
Disclaimer 1: *500mg Mitopure® have been shown to (1) induce gene expression related to mitochondria function and metabolism and (2) increase the strength of the hamstring leg muscle in measures of knee extension and flexion after 4 months in overweight 40-65 year olds
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