TESLA SHARES DOWN 2.9% AFTER QUARTERLY RESULTS; CO CUTS ANNUAL CAPEX FORECAST

META PLATFORMS SHARES HIT LOWEST IN OVER A MONTH, LAST DOWN 5% AFTER Q3 RESULTS

U.S. STOCKS EXTEND FALL, NASDAQ DOWN 1.55%

AI DATA CENTER SHORT SELLERS GAIN $6 BILLION IN OCTOBER Short sellers have made $6B in paper profits betting against AI infrastructure stocks amid concerns over debt-funded expansion, according to ORTEX. Bets against $NBIS generated $2.94B, $CRWV nearly $1.7B, and $IREN and $APLD over $1.2B combined. Around $17B in shares across five AI infrastructure companies remain sold short.

$META - META PLATFORM'S 5-YEAR CREDIT DEFAULT SWAPS HITS ALL-TIME HIGH, LAST AT 114.5 BPS - MARKIT DATA

‘GRAND THEFT AUTO VI’ FUELS 22% JUMP IN SONY PLAYSTATION 5 SALES

GOLD FALLS 1.3% AS RISING OIL PRICES COMPLICATE FED RATE OUTLOOK Gold slipped 1.3% to $4,083, pressured by concerns that higher oil prices could fuel inflation and delay Federal Reserve rate cuts. Capital. com's Monte Safieddine warns that gold faces a "difficult cocktail" of sticky inflation, elevated Treasury yields and a potentially stronger dollar. He identifies $4,000 as a critical support level, warning that a decisive break below could signal fading expectations for Fed easing. A stable U.S. labor market reinforces expectations that the Fed will hold rates next week.

EBAY SHARES UP 1.6% PREMARKET AFTER CO SAYS WILL REDUCE GLOBAL WORKFORCE BY ABOUT 9%

TESLA ($TSLA ): WALL STREET PRICE TARGET CHANGES, RATING UPGRADE & REITERATIONS RATING UPGRADE 🔸 CLSA — Christopher Richter: Underperform → Hold | PT raised to $400 from $310 PRICE TARGET INCREASES — RATINGS MAINTAINED 🔸 Piper Sandler — Alexander Potter: $450 → $475 | Overweight 🔸 Mizuho — Vijay Rakesh: $450 → $460 | Outperform 🔸 Canaccord — George Gianarikas: $410 → $442 | Buy 🔸 JPMorgan — Rajat Gupta: $415 → $430 | Neutral 🔸 UBS — Joseph Spak: $391 → $425 | Neutral 🔸 Morgan Stanley — Andrew Percoco: $400 → $410 | Equalweight RATINGS & PRICE TARGETS REITERATED 🔸 Cantor Fitzgerald — Andres Sheppard: Overweight | $485 🔸 TD Cowen — Itay Michaeli: Buy | $460 🔸 Goldman Sachs — Mark Delaney: Neutral | $360

GOLDMAN SACHS: AI COULD TEMPORARILY DISPLACE 9% OF WORKERS Goldman Sachs estimates that a 15% productivity boost from AI could temporarily displace around 9% of workers during the transition. Historical research shows every 1% productivity gain from technology raises unemployment by 0.3–0.4 percentage points, with effects typically fading within two years. Occupations heavily disrupted by technology have historically lost 25% of jobs within five years. Goldman warns AI-related layoffs could accelerate during economic downturns, amplifying labor-market weakness.

US JOBLESS CLAIMS -6K TO 194K IN OCT-17 WK; SURVEY 200K US OCT-10 WEEK CONTINUING CLAIMS +25K TO 1,728,000 US OCT-10 WEEK JOBLESS CLAIMS REVISED TO 200K

BOFA RAISES SPACEX ($SPCX) PRICE TARGET TO $275 FROM $235 BofA Securities analyst Ronald Epstein reiterated Buy after SpaceX beat Q3 expectations and strengthened its 2027 outlook. SpaceX completed 35 launches in Q3, including Starship Flight 14, which deployed 26 operational Starlink V3 satellites. BofA sees Flight 15, expected next month, as the next major catalyst, potentially paving the way for weekly Starship launches in H1 2027.

KALSHI AND BITGO ($BTGO) LAUNCH CRYPTO-BACKED MARGIN LOANS Kalshi Prime and BitGo launched HODL Margining, allowing eligible traders to borrow dollars against Bitcoin, Ethereum and stablecoins without selling their holdings. Loans fund trading margin on KalshiEX, while collateral remains in segregated BitGo custody. Borrowing adds leverage, and pledged crypto may be liquidated.

SPOT GOLD FALLS NEARLY 2% TO $4,063.86/OZ

FRANCE'S 10-YEAR GOVERNMENT BOND YIELD SPREAD VERSUS SAFE-HAVEN BUND WIDENS FURTHER, LAST UP 16 BPS AT 176 BPS

GERMANY'S 10-YEAR GOVERNMENT BOND YIELD HITS LOWEST SINCE SEPT 4 AT 3.3486%, LAST DOWN 6.5 BPS

OIL TOPS $111 AS MIDDLE EAST WAR RISKS SURGE Brent crude jumps over 2%, heading for its highest close since May. Global oil inventories are razor-thin, leaving little room for supply disruptions. The U.S. is deploying more warships, Israel is reportedly preparing potential strikes on Iran, and attacks on Saudi Arabia are intensifying. Washington has ordered nonessential U.S. government personnel to leave Saudi Arabia.

FRANCE’S 10-YEAR BOND RISK PREMIUM RISES TO 175 BASIS POINTS

🇫🇷 FRANCE'S 10-YEAR BOND YIELD HITS HIGHEST SINCE 2002 AS DEBT FEARS INTENSIFY French 10-year yields surged to 5.142%, while the spread over German Bunds widened to 173 basis points — the widest since 2011. Budget uncertainty, political instability and violent protests are fueling the selloff. Meanwhile, investors sought safety in U.S. Treasuries, pushing 10-year yields down 7.3 bps to 5.072%. European credit stress is also rising, with the iTraxx Crossover index hitting 329 bps, a nearly seven-month high.