Wall Street rises on tech strength and rate cut bets

5 articles I'm watching carefully

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Here's the latest news I'm tracking today.

 📈 Stocks / Finance

Wall Street rises on tech strength and rate cut bets

US stocks climbed as the S&P 500 rose 1.6% and Nasdaq 2.7%, lifted by AI names, with Alphabet +5.5% and Nvidia +2.1%. Fed cut odds for Dec jumped to nearly 80%. Novo Nordisk fell 5.8% on an Alzheimer’s trial miss, while Bitcoin swung near 87,600.

Melius calls Tesla a must own on FSD and AI chips

Tesla rose nearly 7% after Melius tagged it a must own, citing FSD v14.1.7 and years of vision based training. Musk said Tesla has deployed millions of in house AI4 chips and is close to taping out AI5. Analysts argue legacy automakers cannot match Tesla's cost and innovation pace.

Carvana upgraded as analysts see volume lead

Wedbush upgraded Carvana to outperform and raised its target to 400. Analysts expect Carvana to surpass CarMax in used unit volume by 4Q26. Shares are up about 60% in 2025 as CarMax falls 55%, and Wedbush now projects 5.2 billion in current quarter revenue.

🪙 Crypto

XRP draws $89.3M as crypto funds see $1.94B outflows

Crypto funds saw $1.94B in weekly outflows, with four week losses at $4.92B. XRP drew $89.3M in inflows while BTC saw $1.27B in outflows and ETH $589M. US funds drove 97% of withdrawals. Friday inflows of $258M hint at a possible sentiment shift.

🌎 Global Economy

Global markets slide on AI valuation worries

Global equities fell as AI valuation concerns hit Europe, the U.S., and Asia. STOXX 600 dropped over 2%, Nasdaq led U.S. declines, and Japan’s Nikkei fell 3%. Eurozone PMI held at 52.4, UK inflation eased to 3.6%, and Japan approved a USD 135B stimulus while China eyed new property support.

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