The Nasdaq Composite reached a fresh all-time high on Monday as technology stocks advanced despite rising US Treasury yields and investors assessed new economic data.

Gains in major technology and artificial intelligence-related stocks helped lift the index, while traders also looked ahead to the Federal Reserve’s September meeting minutes and the start of third-quarter earnings season.

The Nasdaq gained 1.05% to reach an intraday record of 27,544.07, while the S&P 500 rose about 0.7%.

The Dow Jones Industrial Average added around 90 points, or nearly 0.2%.

AI stocks lead Nasdaq higher

Stocks linked to the artificial intelligence trade led the gains.

SpaceX jumped nearly 6%, while Meta and Microsoft gained more than 2% and 1%, respectively. Nvidia rose more than 1%, and Tesla advanced 2%.

The technology sector continued to attract investors even as Treasury yields moved higher. The 10-year Treasury yield rose more than nine basis points to 5.349%, while the 30-year yield increased about seven basis points to 5.703%.

Both yields have climbed to multiyear highs in recent weeks as investors have assessed the possibility that inflation could keep the Federal Reserve’s interest rates higher for longer.

The latest market moves came as investors reviewed the Institute for Supply Management’s services-sector report.

The services Purchasing Managers’ Index rose to 54.9 in September, broadly matching expectations but coming in slightly below the previous month’s reading.

Investors are now awaiting the minutes from the Federal Reserve’s September meeting, which could provide further insight into the central bank’s decision to raise interest rates by 25 basis points last month.

Lower oil prices provide support

Oil prices declined on Monday as investors assessed an improvement in Middle Eastern crude exports and commitments from the Group of Seven to increase supplies.

Brent crude futures fell more than 1.9% to $100.30 a barrel, while West Texas Intermediate crude declined about 2% to $89.29.

The move in oil prices provided another factor supporting investor sentiment after a week marked by rising Treasury yields and weaker-than-expected US employment data.

The September jobs report showed that US job growth slowed more than expected, reducing market expectations for another Federal Reserve rate hike in October.

Traders were pricing in a 24% probability of an October rate increase, down from 70% a week earlier, according to CME’s FedWatch tool.

Earnings season moves into focus

Investors are also turning their attention to the upcoming third-quarter earnings season, which begins next week with results from major US banks.

LSEG data showed analysts expect S&P 500 earnings to increase more than 30% year over year, driven largely by artificial intelligence-related companies.

The Nasdaq’s previous record closing high was set on September 22.

Elsewhere, PTC surged after Schneider Electric agreed to acquire the software company in a $22.6 billion all-cash transaction.

RXO also advanced after C.H. Robinson Worldwide agreed to acquire the transportation broker in a $5.8 billion stock-and-cash deal.

Cerebras Systems gained after OpenAI CEO Sam Altman described the chip designer as a close partner and said the companies had extensive work underway focused on improving speed.

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US Treasury yields climbed to their highest levels in more than two decades on Monday as investors assessed fresh economic data and awaited minutes from the Federal Reserve’s September meeting.

Oil prices fell as Middle Eastern crude exports increased and G7 countries pledged to boost supplies, although geopolitical risks continued to limit the decline.

Gold prices edged lower as a stronger dollar and elevated Treasury yields offset reduced expectations of a Federal Reserve rate hike this month.

Bitcoin remained near recent highs after entering October with gains, although technical indicators pointed to cooling short-term momentum.

Treasury yields hit more than two-decade highs

The benchmark 10-year Treasury yield rose 9 basis points to 5.349%, its highest level since April 2002, while the 30-year yield rose more than seven basis points to 5.703%, its highest since May 2002.

The moves came after the Institute for Supply Management reported that its services Purchasing Managers’ Index rose to 54.9 in September.

The reading was broadly in line with expectations but slightly below the August rate of growth.

The prices component of the services ISM increased 1.4 points to 74, lifting its 12-month average to the highest level since March 2023.

Investors are now focused on minutes from the Fed’s September policy meeting, due Wednesday.

A weaker-than-expected September jobs report had recently reduced expectations for another rate increase at the October meeting.

Traders were pricing in an almost 82% probability that the Fed would leave rates unchanged at its next meeting, according to the CME FedWatch tool.

Oil prices fall as supply outlook improves

Brent crude futures settled 2.36%, lower at $99.84 a barrel, while US West Texas Intermediate crude fell 2.41%, to $88.91.

The decline came as Middle Eastern crude exports rose above pre-war levels on four of the seven days in the final week of September, according to shipping data.

The G7 also agreed to release 100 million barrels of diesel and crude from emergency reserves and pledged to avoid energy export restrictions.

However, uncertainty remained over how much of the pledged supply would come from the International Energy Agency-coordinated 400 million-barrel emergency release announced in March.

The broader supply backdrop remained tight. Saudi Aramco CEO Amin Nasser said crude and refined fuel supplies could remain stretched, with global stockpiles potentially taking two years to replenish after emergency withdrawals.

US Strategic Petroleum Reserve inventories fell to 283 million barrels last week, the lowest level since October 1982.

Gold gains as October Fed hike bets fall

Spot gold was up 0.02% at $4,143.31 an ounce, while US gold futures for December delivery settled 0.17% higher at $4,169.70.

The stronger US dollar and elevated Treasury yields weighed on the precious metal.

Higher interest rates can reduce the appeal of non-yielding assets such as gold, although the metal can also act as an inflation hedge.

Expectations for a Fed rate hike in October declined following weaker US employment data.

Traders were pricing a 22% probability of an October increase, compared with about 70% a week earlier. The probability of a December increase remained at 84%.

Metals Focus expects gold to reach new record highs in 2027 and forecasts an average price of $5,330 an ounce next year.

Bitcoin consolidates near recent highs

Bitcoin was up 0.2% in the last 24 hours and was trading near $85,680.

The cryptocurrency was consolidating near recent highs, although its technical setup showed weaker short-term momentum.

An RSI reading around 41 and a MACD below its signal and zero lines indicated that momentum had cooled.

Bitcoin’s broader backdrop remained supported by corporate treasury activity.

Strategy bought 334 BTC for $28.7 million, while Metaplanet increased its holdings to 44,000 BTC after adding 1,000 BTC during the third quarter.

Bitcoin ETF flows also remained positive, with $164.22 million of net inflows over one day and $226.41 million over seven days, according to CoinGlass data.

The market-implied year-end high on Kalshi rose to $95,000, while Bitcoin could potentially test $90,000 if the current positive setup continues.

Meanwhile, proposed CFTC crypto market rules could provide a clearer federal framework for Bitcoin, Ethereum and registered crypto exchanges.

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Shares of Western Digital WDC and Seagate Technology rebounded on Monday as analysts assessed the potential impact of Toshiba’s plans to expand hard disk drive (HDD) production.

Western Digital shares rose 6.8% in Monday afternoon trading, while Seagate gained 5.9%.

Both stocks had fallen sharply on Friday after a Nikkei Asia report highlighted Toshiba’s potential plans to significantly increase its HDD production capacity.

Analysts said the expansion could add to supply but argued that it is unlikely to materially change the HDD market’s supply-demand balance in the near term.

Analysts say Toshiba capacity increase may not overwhelm market

TD Cowen analyst Krish Sankar said that while the prospect of Toshiba doubling its exabyte capacity “sounds bearish” for US storage makers, the underlying figures are less concerning.

Sankar estimated that Toshiba’s expansion could add about 75 exabytes of incremental supply.

That would leave the company with around 15% to 17% of the overall HDD market, he said, while the industry currently faces a shortage of about 300 exabytes.

The estimate also does not account for Sankar’s expectation that demand for digital storage capacity will grow by about 30% annually in 2027 and 2028.

As a result, Sankar described Toshiba’s capacity additions as “a natural response to tightness” rather than an indication of future excess supply.

Bernstein similarly said Toshiba’s announcement had been misunderstood.

The research firm noted that the company is targeting nearly double its production capacity by fiscal 2027, which ends in March 2028, rather than immediately doubling its share of the global HDD market.

If Toshiba doubles its exabyte output while Western Digital and Seagate each increase shipments by 25%, in line with their long-term plans, Toshiba’s share of exabyte capacity would rise from 11.2% to 16.8%, Bernstein estimated.

The firm described the potential increase as “significant” but “isn’t that alarming” and reiterated its Outperform ratings on both US storage companies.

Toshiba faces a lengthy capacity ramp

The potential competitive threat also remains several years away.

Sankar said doubling Toshiba’s exabyte production could take about two years, based on a 12-month wafer cycle and another 12 months to build production capacity and install manufacturing equipment.

He also noted that customers appear “skeptical about [the] capacity ramp trajectory for Toshiba”, pointing to previous instances in which the company fell short of production targets.

Western Digital and Seagate are also advancing their product roadmaps, potentially allowing them to extend their lead while Toshiba adds capacity.

Sankar said the US companies can supply some of their own components, while Toshiba will need to rely on other suppliers.

Evercore ISI analyst Amit Daryanani also highlighted the component issue.

He said Toshiba would need to “materially outgrow the market”, which he expects to expand by at least 25%, while securing enough components and qualifying higher-capacity products with customers.

Analysts expect HDD supply to remain tight

Daryanani said Toshiba’s planned $380 million investment to expand HDD manufacturing in the Philippines would still fall short of adding a meaningful amount of exabyte capacity.

Citi analysts also said Toshiba’s expansion was unlikely to materially ease the HDD supply shortage, noting that the industry is currently under-shipping unconstrained demand “by a wide margin”. T

he analysts recommended buying Western Digital and Seagate following Friday’s selloff.

Morgan Stanley likewise said the supply-demand gap through calendar 2028 is expected to remain wider than Toshiba’s potential capacity expansion.

The firm also noted that Toshiba lacks leading-edge capacity and HAMR technology.

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Global biosecurity alarms are flashing after an incident at an anti-plague research facility in Siberia sparked a severe public health response.

Following the fatal lab exposure of a researcher in Irkutsk region to Yersinia pestis – the bacterium causing pneumonic plague – Russian officials placed several regional hospitals under quarantine and isolated nearly 200 contacts.

Because pneumonic plague spreads through respiratory droplets and carries high mortality without immediate intervention, emergency biodefense protocols are ramping up globally.

According to experts, these 3 pharma stocks are “uniquely positioned” to get a boost from the Russian plague outbreak.

Emergent BioSolutions (EBS)

Emergent BioSolutions stock occupies a foundational role in global public health threat mitigation, making it a primary candidate for biodefense capital allocation amidst the Russian plague outbreak.

While widely recognized for its Medical Countermeasures (MCM) unit – which supplies anthrax and smallpox medical treatments to national strategic stockpiles – EBS maintains the specialized biomanufacturing infrastructure as well, required to produce broad-spectrum antimicrobial countermeasures and biodefense therapeutics.

As national defense agencies re-evaluate supply chain readiness for biological threats following the Irkutsk lab containment breach, Emergent shares stand to benefit through elevated government procurement contracts, federal biodefense grants, and strategic stockpile replenishment orders designed to hedge against potential biological contagion risks.

Wall Street currently has a consensus Overweight rating on EBS stock.

Spero Therapeutics (SPRO)

Spero Therapeutics is a clinical-stage biopharmaceutical developer explicitly focused on treating high-consequence, multi-drug resistant bacterial infections.

Its core technology platform targets severe Gram-negative pathogens, the exact structural class of bacteria to which Yersinia pestis belongs.

SPRO lead oral and intravenous antibacterial pipelines, developed partly with funding from federal research bodies like the “Biomedical Advanced Research and Development Authority” (BARDA), aim to address critical gaps in hospital-acquired infections and biodefense preparedness.

With public health professionals prioritizing rapidly deployable therapeutic options for dangerous bacterial agents, Spero Therapeutics’ targeted antibiotic research positions the firm for expanded government research partnerships and biosecurity contract funding.

SPRO stock receives coverage from just one Wall Street analyst, albeit he rates it a Buy currently.

Innoviva (INVA)

Innoviva holds a diversified portfolio of commercial-stage healthcare assets, prominently featuring infectious disease specialist Entasis Therapeutics following its full acquisition.

Key among its commercial offerings is XACDURO (sulbactam and durlobactam), an FDA-backed targeted intravenous antibacterial combination designed specifically to fight severe Gram-negative pathogen infections.

Innoviva’s strategic focus on hospital-based anti-infectives provides exposure to institutional demand for potent, modern antibiotic therapies.

As health authorities and defense agencies assess contingency protocols against weaponized or accidental pathogen releases, INVA’s established infrastructure for critical-care antibacterials places it in a prime position to fulfill emergency procurement and institutional stockpile requests.

Wall Street firms currently rate Innoviva stock at Overweight on average, with a mean price target of about $35 indicating massive upside potential from here.

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Nvidia stock NVDA ticked higher on Monday after Foxconn reported its strongest-ever monthly revenue, providing a fresh indication of demand for AI infrastructure and consumer electronics heading into the final quarter.

Foxconn, a major assembler of Apple products and an important builder of Nvidia-based AI servers, reported September revenue of 36.5 billion,or NT$1.16 trillion.

Revenue rose 25.7% from August and 38.4% from a year earlier.

The monthly figure was Foxconn’s first above NT$1 trillion and exceeded its previous record of NT$946.5 billion set in July.

In the July September quarter, the company posted revenue of NT$3.03 trillion, beating the LSEG SmartEstimate of NT$2.83 trillion.

Foxconn revenue highlights AI demand

Foxconn’s results are closely watched by Nvidia investors because the Taiwanese manufacturer builds and integrates AI server systems based on Nvidia’s accelerated-computing platforms.

The company manufactures systems including GB200 and GB300 NVL72 racks, while also handling power delivery, liquid cooling, mechanical systems and networking integration.

These systems are more complex than conventional servers because of the computing requirements of artificial intelligence workloads.

The latest revenue figures therefore provide a fresh indication of activity across the AI infrastructure supply chain as companies continue investing in computing capacity.

Nvidia and Foxconn expanded their partnership in October 2023, when the companies announced plans to develop AI factories using Nvidia’s computing hardware and software.

The partnership has become increasingly important as demand for AI infrastructure has expanded beyond individual chips to complete systems that combine computing, networking, power and cooling capabilities.

BNP Paribas raises Nvidia target

Nvidia also received support from BNP Paribas, which continues to view the chipmaker as its preferred semiconductor stock.

The brokerage raised its Nvidia price target to $345 from $285, citing the company’s broad portfolio of AI hardware, CUDA software and networking products.

BNP Paribas expects Nvidia to maintain a leading position in AI computing as workloads increasingly shift towards inference.

Inference refers to the process of running AI models after they have been trained.

The brokerage also expects Nvidia to maintain gross margins above 70% despite increasing competition from custom chips and other semiconductor companies.

The view highlights the importance of Nvidia’s broader AI platform rather than its position as a chip supplier alone.

Its hardware, software and networking products remain central to the company’s competitive position, according to BNP Paribas.

Bernstein maintains Nvidia outlook

Bernstein also maintained its positive view on Nvidia, reiterating an outperform rating and a $400 price target.

The brokerage said the data centre opportunity remains substantial, reinforcing the broader investment case around Nvidia’s role in AI infrastructure.

The company’s position in the AI computing market comes as demand for increasingly complex data centre systems continues to drive investment across the semiconductor and server supply chain.

Foxconn’s record September revenue provides another data point for investors assessing the strength of that demand.

Its monthly revenue increase also points to continued activity across both AI infrastructure and consumer electronics markets.

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SpaceX shares SPCX rose about 4% on Monday after Morgan Stanley reiterated an overweight rating on the rocket and satellite company and described the stock as an unusually cheap way to gain exposure to the growing space and artificial intelligence economy.

The brokerage maintained a $300 price target, implying an 88.7% upside from Friday’s close.

The rally also helped Elon Musk regain his status as the world’s first trillionaire.

Forbes estimated Musk’s net worth at $1 trillion on Monday, up $30.6 billion from Friday, as shares of SpaceX and Tesla advanced.

Morgan Stanley sees SpaceX upside

Morgan Stanley analyst Adam Jonas said SpaceX appeared expensive when assessed using conventional valuation measures but looked cheaper when adjusted for expected growth.

The company trades at around 30 times estimated 2028 EV/EBIT, compared with roughly 16 times for other mega-cap AI enablers.

However, its EV/EBIT/growth ratio stands at 0.3 times, around 40% below the peer median, according to Morgan Stanley.

Jonas said the valuation reflected only part of SpaceX’s broader business potential.

At Friday’s closing price of $159, Morgan Stanley estimated that the market was assigning about $127 per share to Starlink and the company’s rocket-launch business, leaving roughly $32 per share for its AI operations.

The brokerage’s $300 price target values external launch operations at $8 per share, Starlink connectivity at $118, consumer AI tools such as Grok at $8, and enterprise AI services at $165.

Jonas wrote that SpaceX was one of the cheaper ways to gain exposure to the growth potential of the space and intelligence economy when its valuation was adjusted for growth.

He also said the risks of upside surprises outweighed those on the downside at current levels.

Starship Flight 15 key catalyst

Morgan Stanley identified SpaceX’s upcoming Starship Flight 15 as a major potential catalyst.

The launch is expected in late October or early November and could include an attempt to catch the spacecraft’s upper section in mid-air.

A successful ship catch would represent further progress towards a reusable rocket system.

Morgan Stanley expects this could help reduce launch costs and accelerate the deployment of infrastructure.

Jonas described a successful ship catch as potentially the biggest positive catalyst for SpaceX since its initial public offering.

Other potential catalysts identified by the brokerage include additional AI compute contracts, new Grok releases and further progress on Starship reusability.

SpaceX’s third-quarter earnings later this month could also provide an early indication of adoption and monetisation of its AI services, including Cursor and Grok Bot, which were acquired and launched during the quarter.

Musk returns to trillionaire status

The gains in SpaceX and Tesla shares helped Musk’s estimated wealth return to the $1 trillion mark.

Forbes ranked Musk as the richest person in the world, with Amazon founder Jeff Bezos in second place with an estimated net worth of $371.5 billion.

Musk had previously crossed the trillion-dollar threshold in June after SpaceX began trading on the Nasdaq, but subsequently fell below it after SpaceX and Tesla shares declined.

Musk’s net worth had moved closer to the milestone in recent days as both companies’ shares advanced.

Tesla’s third-quarter deliveries exceeded analyst expectations last week, while SpaceX shares also gained following the company’s recent Starship launch into orbit.

Despite the recent gains, Morgan Stanley highlighted several risks to its SpaceX outlook.

These include slower-than-expected AI growth, higher infrastructure costs and potential dilution.

The brokerage also noted that institutional ownership of SpaceX remains relatively low among its clients, partly because of the complexity of the company’s interconnected businesses across space, connectivity and AI.

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Microsoft shares MSFT rose more than 1.6% on Monday after Melius Research upgraded the software giant to Buy from Hold and lifted its price target to $665.

The research firm argued that growing corporate concerns about artificial intelligence could itself become a powerful driver of demand for Microsoft’s security and governance products.

The new target implies more than 26% upside from Monday’s trading levels.

Microsoft shares have already gained over 40% from their June low of $353.

The stock has gained 11% this year.

AI concerns could drive enterprise spending

Melius analyst Ben Reitzes said enterprises are increasingly looking for ways to deploy AI without exposing themselves to the security and governance risks associated with relying directly on frontier AI labs.

“Enterprises are electing to spend on a secure wrapper that can route models to the right task and secure agents rather than put their trust in the labs.”

Melius said Microsoft is increasingly becoming the “adults in charge” for enterprise AI security and governance as companies seek greater control over how AI models and agents are deployed.

The brokerage expects Azure growth to accelerate beyond 50% by the fourth quarter of fiscal 2027, reflecting stronger enterprise adoption and spending on Microsoft’s broader cloud and AI infrastructure.

The upgrade follows recent comments from AI executives that have heightened concerns about the risks associated with increasingly capable AI systems.

Melius said those concerns have already prompted enterprise resellers to show greater interest in Microsoft’s security offerings.

The brokerage also raised its earnings estimates, increasing its fiscal 2027 forecast by 2% and fiscal 2028 estimate by 4%.

It initiated a fiscal 2029 earnings estimate of $30.77 a share, about 7% above consensus.

Its $665 price target represents roughly 22 times its fiscal 2029 earnings estimate.

New AI revenue opportunities emerge

Melius’ bullish view comes after Piper Sandler last week raised its price target on Microsoft to $610 from $550 while maintaining an Overweight rating.

Piper Sandler developed a new framework for evaluating Microsoft’s M365 Commercial Cloud business following the company’s “Super App” announcement, the introduction of its E7 tier, and growing adoption of consumption-based pricing for Copilot and Cowork.

The brokerage estimates that every 10% shift in customer seats from the existing E5 tier to E7 could generate about $2 billion in annualized revenue.

The impact is expected to build gradually as customers move between subscription tiers.

Piper Sandler also sees significant potential in consumption-based revenue from Copilot and Cowork, estimating the businesses could reach a $2 billion annualized revenue run rate by the end of fiscal 2028.

The firm said part of their appeal comes from Microsoft’s enterprise technology “harness” and auto-routing capabilities, which can direct tasks to appropriate models at lower costs than relying exclusively on frontier AI systems.

That could allow Microsoft to monetize AI consumption more quickly than under the traditional seat-based Copilot model.

Investors seek returns from AI spending

The bullish forecasts come as investors increasingly scrutinize whether the enormous sums being spent on AI infrastructure can translate into durable revenue and cash flow.

For Microsoft, the opportunity extends beyond selling access to AI models.

Its position across cloud infrastructure, enterprise software and security could allow it to benefit as companies seek to deploy AI while keeping tighter control over costs, data and governance.

Melius’ upgrade suggests those concerns may ultimately reinforce Microsoft’s position rather than weaken it, as enterprises turn to established technology providers to manage the risks of the AI transition.

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Intel shares INTC slipped on Monday after Elon Musk confirmed that Taiwan Semiconductor Manufacturing Co. could participate in his ambitious Terafab chip-making project, raising concerns that the US chipmaker could face competition in a venture that has helped drive its stock sharply higher this year.

Intel shares fell about 2% in morning trading, while TSMC’s US-listed shares gained 1.4%.

Intel has surged about 200% so far this year, compared with a roughly 50% gain for TSMC’s US-listed shares.

TSMC could join Musk’s chip venture

Musk confirmed that TSMC was in discussions about participating in Terafab after an Asian technology Substack reported that the Taiwanese chipmaker was exploring ways to help operate the planned factories.

“In discussions, but something may come of it,” Musk posted on X on Saturday in response to the report from Culpium.

The possibility of TSMC’s involvement raised concerns that Intel may not be the sole or primary manufacturing partner for a project that has become an important part of the investment case for its stock.

Oppenheimer analyst Rick Schafer said one possibility would be “TSMC owning and running a fab that serves only Tesla, SpaceX and xAI, while SpaceX invests or commits to volume,” according to a note to clients published Monday.

Musk later indicated that any chips produced by TSMC would likely supplement, rather than replace, chips supplied by Intel.

Still, the prospect of another major chipmaker joining Terafab could complicate expectations around Intel’s role in the project.

Terafab has fueled Intel’s rally

Musk announced plans for Terafab in March, with Tesla and SpaceX jointly leading the project.

The companies have said they aim to manufacture 1 terawatt of computing capacity annually, roughly twice the amount needed by the entire United States.

Musk had initially discussed a potential deal with Intel in November 2025, saying his companies’ existing suppliers could not produce enough chips to meet their needs.

At the time, Musk said Tesla and SpaceX could require as many as 200 billion AI chips annually.

Tesla already works with Micron Technology, Samsung Electronics and TSMC, with Samsung and TSMC expected to mass-produce Tesla’s next-generation AI5 chips next year at facilities in Texas and Arizona.

Musk has described Terafab as a one-of-a-kind facility capable of producing memory and logic chips as well as advanced packaging for applications including humanoid robots, satellites and data centers.

D.A. Davidson managing director Gil Luria said enthusiasm around Terafab has been a major catalyst behind the “dramatic ascent” of Intel’s stock this year.

“If it turns out Intel does not participate, or is only one fab technology provider, investors may reconsider the credit they gave Intel,” Luria told MarketWatch.

The prospect of working with another manufacturer could also be viewed “as a lack of confidence in trusting the future of his important endeavor to Intel alone,” he added.

Intel faces pressure beyond Terafab

Intel’s competitive challenges extend beyond the Terafab project.

Susquehanna analysts said Monday that Intel likely continued losing CPU model share in both laptops and desktops during the third quarter, while AMD gained ground and Qualcomm reached its highest laptop share yet, Investing.com reported.

Susquehanna estimates Intel’s laptop model share fell 3.9 percentage points from the previous quarter to 68.1%. AMD’s share rose 3.1 points to 29.3%, while Qualcomm increased to 2.2%.

Intel’s new Panther Lake processor, built on its 18A process, accounted for about 1.8% of Intel-based laptop SKUs, up from 0.4% in the previous quarter.

Susquehanna said the ramp was ahead of Lunar Lake’s trajectory but roughly in line with Arrow Lake.

Intel’s desktop model share also declined 1.6 percentage points to about 76%, its lowest level in the firm’s study since the second quarter of 2023.

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Nu Holdings (NU) stock is ripping higher on Monday morning following a surprise turn of events in Brazil’s presidential election, where an unexpected “first-round” showing ignited a broader relief rally across Latin American assets.

More importantly, analysts at Goldman Sachs believe the neobank has massive runway remaining; they reiterated a high-conviction Buy rating on NU today.

Note that NU shares are staging a meaningful comeback in October, currently up some 25% versus their low in late September.

Brazilian elections drive Nu stock higher

NU stock is on a tear primarily because of the “unexpected” outcome of the first round of Brazil’s presidential election.

Challenger Flávio Bolsonaro demonstrated a surprisingly strong performance against incumbent President Luiz Inácio Lula da Silva, forcing the race into a second-round runoff later this month.

Regional stocks reacted with immediate optimism, viewing the better-than-expected conservative turnout and legislative gains as key buffer against potential tax increases, interventionist regulatory shifts, and aggressive fiscal spending.

For Nu Holdings, which operates Nubank and counts nearly 118 million customers in Brazil alone, a stable and pro-business domestic environment is paramount.

The election results triggered a widespread relief rally in Brazilian stocks and currency markets –  with foreign capital flowing back into dominant domestic growth stories.

Because NU is the premier digital banking ecosystem in the region, it stood at the very front of today’s capital rotation.

What else is contributing to NU shares’ rally

In addition to political tailwinds, NU shares are benefiting from the removal of a major strategic overhang that had dragged down performance late last month.

Market rumours had suggested that the fintech firm was considering a takeover of UK-based digital bank Monzo – a potential deal valued at up to £10 billion – making investors worried about balance sheet dilution, complex integration risks, and capital misallocation.

Nu decisively put those fears to rest by submitting an official regulatory filing confirming that it is not pursuing any acquisition of Monzo.

Management reiterated its utter commitment to disciplined “organic growth” and focusing capital deployment on its core high-return markets.

Clearing this M&A distraction reassured institutional investors that Nu Holdings Ltd will remain focused on deepening market penetration in Brazil, scaling rapidly in Mexico and Colombia, and building high-margin credit operations.

How high could Nu Holdings go in 2026

Goldman Sachs analyst Tito Labarta has a $23 price target set for Nu stock, implying potential upside of another 50% from here.

According to him, the fintech firm continues to execute flawlessly on user monetization, expanding its average revenue per active customer (ARPAC) while maintaining one of the lowest cost-to-serve structures in the global banking sector.

Plus, long-term growth initiatives, such as expanding consumer credit, accelerating deposit growth in Mexico, and exploring entry into strategic international markets, provide sustained “multi-year” compounding potential.

With regulatory clarity returning to Brazil and non-essential M&A risk off the table, Labarta views Nu Holdings as one of the most attractive secular growth opportunities in global fintech today.

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Vistra (VST) shares are pushing higher on October 5^th as investors react to fresh reports detailing potential federal financial support for nuclear energy expansion.

Markets are cheering VST primarily because federal backing could boost its clean energy pipeline and offset capital expenses for reactor modernizations.

Despite today’s gains, Vistra stock remains down over 10% versus the start of this year.

Significance of DOE news for Vistra stock

VST shares are in the green this morning mostly because reports indicate that the US Department of Energy (DOE) plans on offering the company up to $4.2 billion in federal loans.

The loan is intended to fund key capacity and tech upgrades across three of Vistra’s nuclear power facilities:

1. Perry nuclear power plant (Ohio)
2. Davis-Besse nuclear power station (Ohio)
3. Beaver Valley power station (Pennsylvania)

US Energy Secretary Chris Wright is scheduled to visit VST’s Perry facility to formally announce the loan structure, which aligns with executive policy plans aimed at expanding domestic baseload nuclear capacity.

For Vistra Corp – which operates one of the nation’s largest nuclear fleets alongside gas and solar operations – federal credit guarantees notably lower capital costs and de-risk major infrastructure buildouts.

Investors view federal low-cost debt as a game-changer for utility balance sheets, allowing firms to expand capacity without diluting equity or incurring exorbitant high-yield corporate borrowing rates.

All in all, this regulatory tailwind reinforces long-term earnings visibility and strengthens VST’s structural advantage in delivering uninterrupted, zero-carbon power.

Peter Thiel and Nancy Pelosi are invested in VST shares

Beyond federal momentum, high-profile backing from influential figures – including institutional vehicles linked to Peter Thiel and prominent disclosure filings from lawmakers like Nancy Pelosi – have kept Vistra firmly in the spotlight.

Capital flows from both Silicon Valley luminaries and Capitol Hill investors reflect a shared thesis: the expansion of AI compute clusters and hyperscale data centers requires an immediate, massive influx of reliable energy.

Because AI workloads require continuous 24/7 power that intermittent renewables alone can’t supply, clean nuclear and flexible natural gas assets have become prime real estate.

Vistra shares sit right at this intersection, capturing premium long-term power purchase agreements (PPAs) with major tech firms desperate to secure energy capacity.

Note that VST has already signed massive, multi-year deals with the likes of Amazon and Meta.

How Wall Street recommends playing Vistra Corp

Potential investors should also note that Wall Street firms believe Vistra is still in its early innings only.

According to The Wall Street Journal, the consensus rating on VST stock sits at “Buy” currently – with the mean price target of about $213 indicating potential upside of roughly 50% from here.

Vistra is trading at about 15x forward earnings, which doesn’t really make it an expensive pick for an AI beneficiary.

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