No two ways about it. Yesterday was a bad day for stocks. The only Magnificent 7 member that didn’t end the day in the red was APPL, which rose by a massive… 0.37%. Impressive.

Meanwhile, crypto had it even worse: Ethereum sank 13% at one point, Bitcoin tumbled all the way to $99K before coming back to the $102K range, and most other tokens saw similar drops.

It’s safe to say that markets are straight up not having a good time right now.

Some people are calling this the beginning of the bear market, saying that the bubble is popping.

We don’t buy it though. Did you see those earnings reports from PLTR and AMD yesterday? Do you know how much money companies are putting into AI? 

More importantly, markets have to correct slightly at some point in order to go higher anyway. Is everyone really so scared by just a 1% drop in the S&P 500?

Let’s talk about it.

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Markets tumbled on Tuesday as warnings from Wall Street banking chiefs sparked fears of a market correction.

So, a whole lot of stocks and crypto were in the red yesterday. A lot of people are hurting right now (especially people who traded on leverage), but remember: nothing’s final until you sell your assets (unless you got liquidated because you traded on leverage). 

Also, don’t trade on leverage.

So the million- (or trillion-) dollar question: “Is this a market crash or just a shake out?”

It’s important to evaluate these things as rationally as you can while also bearing in mind that no one knows the future. Nothing here is financial advice, and you always need to do your own research.

But here’s what we’re seeing:

Now, bears have counterarguments, and they are quite good ones. They reference things like a rising VIX (measure of volatility), market breadth weakening, sell-offs on good earnings, etc. Which are good points. But again, even bull markets have to correct in order to go higher. And yes, Palantir closed the day at -8% yesterday, but the S&P 500 was only down 1%. That’s nothing.

We particularly like Twitter analyst Lin’s take. He says simply that “The easy money is over,” not making any wild claims about bull or bear, market top or bottom.

So, are we at a market top or is this just a correction? The good news is that you don’t have to know. You just need to be prepared. So maybe now is not the time to be all in or completely out of the market. Smart money might be waiting to see what happens next, holding some cash but also still holding stocks/crypto.

What we’re more interested in is “what’s going to happen today in markets?” And that’s what we’re going to be covering.

In other news, AMD crushed revenue expectations and forecast Q4 revenue of $9.6 billion, well above the $9.15 billion estimate. The chipmaker reported Q3 sales of $9.25 billion versus $8.74 billion expected, driven by data center infrastructure spending on AI chips. AMD's stock has more than doubled this year, even outpacing Nvidia's gains.

The ongoing government shutdown continues blocking key economic data releases. The shutdown has suspended nearly all government economic indicators, including this Friday's nonfarm payrolls report, at a critical moment when the Fed needs employment data to guide December rate decisions. Investors are relying on private sector reports like ADP payrolls instead.

Treasury Secretary Scott Bessent declared the housing market is in "recession" due to Fed interest rate policies. Home sales have stalled at 4 million annually for two and a half years, compared to the pre-pandemic average of 5 million, while mortgage rates hit 6.17% despite recent Fed cuts.

Shopify reported that AI-driven commerce is exploding. Traffic from AI tools jumped 7x since January, and AI-powered purchases surged 11x. The e-commerce platform's partnerships with ChatGPT, Perplexity, and Microsoft Copilot are positioning it as the infrastructure backbone for what CEO Harley Finkelstein calls "agentic commerce."

We love hearing from you, and we deeply appreciate your feedback.

That’s all for today. Did we miss anything? Smash the reply button to let me know.

Cheers,
Brandon & Blake of Invested Inc