Show Notes
US markets start the week lower after a rough stretch for tech stocks and crypto. Bitcoin (BTC-USD) has erased all its 2025 gains, wiping out more than $600 billion in market value since October as investors brace for Wednesday’s pivotal Nvidia (NVDA) earnings. Analysts expect $54.8 billion in quarterly sales — a 56% year-over-year jump — but warn the setup is “more risk than reward” given sky-high valuations. Nvidia CEO Jensen Huang says the company has $500 billion in orders lined up through 2026. Still, recent 13F filings show billionaire Peter Thiel sold his entire Nvidia stake last quarter, joining SoftBank’s earlier exit.
The long-delayed September jobs report finally arrives on Thursday, following the government shutdown, with economists forecasting 50,000 new jobs and closely watching for signs that the Fed can still cut rates in December. Meanwhile, bitcoin’s slump has some strategists calling for another leg down to the $80,000 range, while MicroStrategy (MSTR) doubled down — buying $835 million worth of bitcoin last week, its biggest purchase since July.
In trending tickers, Novo Nordisk (NVO) cut the consumer price of Wegovy and Ozempic to $349 a month, Alphabet (GOOG) popped after Warren Buffett’s Berkshire Hathaway disclosed a new $4.3 billion stake, and Aramark (ARMK) fell 8% on weak results despite upbeat guidance. Wall Street continues to debate whether the AI trade is truly in bubble territory or just cooling after record highs, as fund managers warn of fatigue and stretched valuations.
Takeaways:
Stocks and bitcoin slide as investors await Nvidia earnings and new Fed data
Nvidia faces a “catch-22” — beat and risk bubble talk, miss and spook markets
Bitcoin down 20% from highs; MicroStrategy adds $835M more to holdings
Buffett’s Berkshire takes a $4.3B stake in Alphabet; Novo Nordisk cuts drug prices
Analysts split on whether the AI trade is a bubble or a healthy consolidation
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