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- These Consumer Stocks Are Getting a Lift as Investors Rotate Out of Tech
Consumer-focused stocks rallied Thursday while many AI favorites declined. Nike (NKE), which was down 45% for the year before the day, rose 5% to lead gains on the Dow Jones Industrial Average, while Sherwin-Williams (SHW), Home Depot (HD), Walmart (WMT) and McDonald's (MCD) also climbed and lifted the index 1%, and Nvidia (NVDA) and Amazon (AMZN) fell. Investors are rotating into more defensive consumer names amid concerns about AI financing and competition, after these stocks had been hit by stubborn inflation and weaker consumer confidence as the war in Iran drags on. Healthcare also gained, with UnitedHealth Group (UNH) and Amgen (AMGN) each up about 3%.
- AI Stocks Suffer Selloff as Investors Rotate Out of Tech Trade
AI-related stocks fell sharply as investors rotated out of tech into blue-chip companies and government bonds, with the PHLX Semiconductor Index down about 2% on Oct. 15 but still up 61% this year. South Korea's KOSPI plunged almost 8% on Oct. 15 and has fallen 18% over the past five sessions, while the Dow Jones Industrial Average rallied more than 400 points. Core producer inflation rose 0.7%, above estimates, pushing the 10-year Treasury yield below 5.1%, its lowest in about a month. Hendi Susanto of Gabelli Funds said the key risk is that expectations for AI are fragile, though demand for AI infrastructure components remains high. Torsten Slok of Apollo argued AI spending is not sensitive to interest rates, but higher borrowing costs could weigh on consumer spending.
- Nigeria Fiscal Crisis Forced Us to Be Creative, Look Beyond Oil Revenues - Cardoso
Central Bank of Nigeria Governor Olayemi Cardoso said on a World Bank/IMF panel in Bangkok that the fiscal crisis forced policymakers to be creative in revenue generation and stabilisation. He said that when the new administration took office, external reserves had dropped to about $3 billion and the country owed about $7 billion in sundry obligations, and orthodox monetary policy helped repay debt and stabilise the economy. He argued that reliance on oil revenue was unsustainable, so the CBN looked to the diaspora and international remittances to ease capital flow and is now focused on value addition, citing the Dangote Refinery. Gross external reserves now stand at $55.1 billion and net reserves at about $46 billion. The debate, which featured IMF Managing Director Kristalina Georgieva and Kyriakos Pierrakakis, Minister of Economy and Finance of the Hellenic Republic, explored how economies can stay resilient amid a fragmented global landscape.
- 3 things to look out for on Friday ( SP500 :) ( SP500 :) ( SP500 :)
- Equal-weight failed. Now tech stocks look shaky again. So what should you do about S&P 500 risk?
Equal-weight S&P 500 funds have again trailed the standard market-cap index in 2026, with September's drop of more than 4% marking their longest multi-week losing streak since 2022. Recent gains have been highly concentrated: Goldman Sachs says market breadth is at its lowest since the dotcom bubble, and The Kobeissi Letter finds 42 AI stocks generated 67% of the S&P 500's price return since the start of 2024. DataTrek notes equal weight has lagged the cap-weighted index in any one-year holding period for almost four years, while tech makes up about 16% of the equal-weight index versus nearly 40% of the standard one. TMX VettaFi's Todd Rosenbluth advises combining cap-weighted ETFs such as VOO and SPYM with equal-weight options like RSP or EQL rather than choosing one, or adding mid-cap funds such as IJH. Baird Strategas' Todd Sohn says investors should keep their eyes open, noting Nvidia is larger than the S&P 500's entire consumer discretionary sector.
- Meta Platforms Investors Look Forward to Understanding AI Assistant Muse's ROI, Oppenheimer Says
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- Tether: Senator's investigation misses positive work that's led to lower Iran volumes
Tether CEO Paolo Ardoino says a recent Senate Democrats report, led by Senator Richard Blumenthal, missed the company's work to enforce sanctions. He claims Tether froze suspicious addresses on average 4 weeks before OFAC and NBCTF sanction designations, and before Chainalysis labelled them in 99% of cases since 2023. Ardoino says these actions led to Iran-linked stablecoin volumes declining by 94%. The Senate report, which described Tether as providing a significant financial lifeline within Iran's shadow banking network, said the company did not comprehensively freeze flagged wallets before 2024. Blumenthal is also probing Tether's relationship with its U.S. financial partner, Cantor Fitzgerald.
- Sandisk, Datadog, Amazon Lead S&P 500 As AI Stocks Rebound
Western Digital, Sandisk, Datadog, Twilio and Amazon led the S&P 500 on Monday as AI-related stocks rebounded. Western Digital (WDC) rose 6.1% to 352.21, still below all its key moving averages, after plunging 16.4% last week. The hard-drive maker reports fiscal Q1 results late Thursday, kicking off a round of earnings for memory-related companies.
- Tesla Rises on a Foundry Agreement With Intel as JPMorgan Upgrades the Stock
Intel shares rose 4% and Tesla rose 3% after JPMorgan upgraded Intel to Neutral from Underweight and kept its $85 price target. Tesla committed to Intel's 14A process in April, and JPMorgan credits CEO Lip-Bu Tan's execution, expects positive EPS revisions, and sees its 2028 EPS estimate about 15% above consensus. The upgrade remains cautious: Intel is down about 36% from its June peak, its share of server CPU revenue has fallen from 77% to 53% since 2022, and its outside foundry business brought in barely $1 billion of annualized revenue in the first half of 2026. Intel's capital spending has exceeded operating cash every year since 2022, so the $20 billion stock sale and an anchor customer make the factory plan more fundable, though 14A won't reach high-volume production until 2028 and neither company has disclosed the deal's value. Intel reports third-quarter results on Oct. 29.
- What Crypto Bear Market? All of These Cryptocurrencies Have Skyrocketed in Value This Year
Bitcoin is down nearly 10% year-to-date, Ethereum is down 20% and XRP is down 30%, but several altcoins have risen sharply in 2026. Hyperliquid (HYPE) is up 210% for the year with a market cap of $20 billion, helped by the launch of spot ETFs, and Zcash (ZEC) is up 128%, with Grayscale's spot Zcash ETF attracting more than $500 million in under 30 days. NEAR Protocol, repositioned for the AI agent economy, is up 240% in 2026 but still down 75% from its January 2022 all-time high. Venice Token (VVV) is up 1,300% this year with a market cap just above $1 billion. The author favors Hyperliquid, citing its popularity overseas, the recent opening of the U.S. market to perpetual futures, and implicit support from the Trump administration.
- Nscale in talks for $45 billion Anthropic AI deal as IPO looms
Nscale is in talks to secure a computing deal worth about $45 billion with Anthropic, according to Bloomberg News, which could strengthen the Nvidia-backed data center developer's bid for a roughly $30 billion valuation in its planned IPO. The proposed agreement would cover a second building at Nscale's Monarch campus in West Virginia, delivering 460 megawatts of capacity powered by Nvidia's Vera Rubin chips, and could be finalized within days, though terms could still change. Anthropic already has infrastructure agreements with Nscale worth as much as $44.6 billion, according to Nscale's IPO filing, and holds a right of first refusal on the campus's anticipated third building. Investors are scrutinizing AI infrastructure economics, and Nscale faces questions similar to CoreWeave's about financing, execution and converting its backlog into cash flow, since its contracts are future commitments rather than collected cash. Representatives for Nscale and Anthropic declined to comment.
- A bad case of when your crypto thesis is based on one guy
Turkey confirmed the arrest of Hex founder Richard Hart, who was detained in Istanbul on October 14, and said police seized 7.15 million cash, six cold wallets, 28 watches, 300 bags and seven firearms during searches across 15 addresses. The detention relates to a Finnish Interpol red notice over suspicions of gross tax evasion and assault in Finland. Hart had an SCC civil case dismissed in 2025 on jurisdictional grounds, and the SCC declined to refile it. The speaker argues that investors who buy the token based on one founder face a sharp price drop if that person runs into legal trouble, and advises against investing just because of a founder.
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