Stocks were up yesterday, riding the bad news of the jobs report (which was actually good news).

Let's get into it.

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Stocks climbed on Wednesday after a surprisingly weak jobs report reinforced bets on a Fed rate cut.

Salesforce (CRM) beat Q3 earnings expectations but issued a worse-than-expected revenue forecast; the stock rose 2% higher after hours in response. Interestingly, the stock has closed below its 200-day moving average for 121 consecutive days in a row. Check our guide to the 200-day SMA here →

The SEC is cracking down on highly-levered ETFs, issuing warnings to providers to block the introduction of funds with more than 2x leverage.

Nvidia CEO Jensen Huang appeared on the Joe Rogan Experience yesterday and claimed that “90% of the world’s knowledge will be generated by AI” in a few years.

Microsoft shares slid 2.5% after reports that it cut AI software sales quotas, reigniting doubts about enterprise demand. The Information reported that the company lowered full-year targets after missing goals in the first half. The news dragged chipmakers lower, with Nvidia down 1%, Broadcom off 2.4%, and Micron falling 3.7%. The market reaction suggests investors are increasingly skeptical that AI products are ready for mass adoption, despite the hype.

Micron announced it's exiting the consumer memory business entirely to focus on supplying memory for AI chips. The company said AI-driven data center growth has created a surge in demand that it can't meet while also serving retail customers. Micron's Crucial brand sold memory sticks and SSDs to PC builders and upgraders. Shares are up 175% this year but slipped 3% Wednesday on the news.

Snowflake beat revenue expectations, posting $1.21 billion for the quarter versus $1.18 billion forecast. Shares rose in after-hours trading as demand for its data analytics services stayed strong despite broader concerns about enterprise software spending.

Rep. Tim Moore disclosed unusually large purchases ($350K) in Hyster-Yale (HY), a stock with a market cap of only $610 million.

Meanwhile Rep. Marjorie Taylor Greene added to her Bitcoin position (IBIT).

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The original Darth Vader lightsaber used in The Empire Strikes Back and Return of the Jedi sold for $3,654,000 at a Propstore auction in Los Angeles, setting a record for any Star Wars item. The prop, wielded by actor David Prowse, became the highest-valued piece of the franchise ever sold publicly.

Other notable sales included Indiana Jones’ bullwhip at $485,100, DiCaprio’s flamethrower from Once Upon a Time in Hollywood at $346,500, and the Harry Potter Platform 9¾ sign at $138,600. Propstore’s COO called it a “landmark moment” for film collecting, as investors increasingly treat screen-used props as scarce cultural assets with enduring value.

“It feels like Millennials with high income moved their play money from BTC into the nostalgia of the 90s with Pokémon and MTG collecting.”

Kadeya wants to end single-use bottles by reinventing how drinks are delivered. Its robotic beverage kiosks wash, sanitize, and refill stainless steel bottles on-site, cutting 99.9% of plastic waste and 75% of beverage-related emissions.

The company already has 27 stations pre-booked, representing $2 million in annual recurring revenue, with customers including the US Air Force, Ecolab, and Georgia-Pacific. Backed by Refashiond Ventures, Exelon Foundation, and Evergreen Climate Innovations, Kadeya has raised $1.13 million of a $1.5 million goal.

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Brandon & Blake of Invested Inc