Market moves
Every Sainteur story on market moves, newest first.
Bitcoin falls below $70,000 for the first time since August
It was at $69,172, down 4.64% as of Nov 13, 8:14 AM ET. Dow Jones Newswires said it is on track for a sixth weekly loss.
Oil is headed for a second weekly decline as the U.S. focuses on its Iran blockade, Reuters says
President Donald Trump said a deal with Iran was not necessary to end the war. Iran's military said four oil tankers were hit in the Strait of Hormuz; Reuters could not immediately verify the accounts.
Jensen Huang resigns as Nvidia CEO, and Colette Kress is named interim chief
President Donald Trump wrote on Truth Social that Tim Cook is the person to replace Huang. Kress remains interim CEO while the board searches, and the company's 8-K says the board accepted the resignation on November 11.
CoreWeave shares were higher in premarket trading after the company raised 2026 guidance
The AI cloud company reported $3.661 billion in third-quarter revenue and raised 2026 revenue guidance to $13.0 billion to $13.3 billion. CNBC said shares were higher in premarket trading Wednesday, after the stock had also advanced in extended trading Tuesday.
Brent crude slips below $90 a barrel after Trump plays down further Iran strikes
He said the conflict could be ending fairly soon, while adding that the United States was still locked and loaded. Flows through the Strait of Hormuz have largely recovered, though an energy consultant said he still sees no prospect of a peace deal.
Strategy buys $81.9 million of bitcoin and repurchases $188 million of STRC
Strategy ($MSTR) bought 1,036 bitcoin for $81.9 million last week and bought back $188.3 million of its STRC preferred stock.
It funded both moves by selling 2,051,348 shares of MSTR for $283.8 million in net proceeds and now holds 850,364 BTC.
SoftBank faces AI-strategy scrutiny at earnings after tech selloff
SoftBank ($SFTBY) faces scrutiny over its AI strategy at Q2 earnings after an AI-stock rout. Its five-year CDS spread widened to 466 basis points Friday, and China blocked its planned $5.4 billion purchase of ABB's robotics division. It spent $64.6 billion for a 13% OpenAI stake and had 10.8 trillion yen of net interest-bearing debt at the end of June.
Congress returns with Dec. 11 funding, the debt limit and a Hegseth impeachment push
The lame-duck window is about five weeks: funding expires Dec. 11, the NDAA is unfinished, and Rep. Thomas Massie is expected to reintroduce a Hegseth impeachment resolution as early as Monday.
Democrats prepare oversight of Musk's DOGE role and companies
House and Senate gavels arrive in January, with planned probes of DOGE data access and whether Musk's companies benefited from his government role; Texas's incoming AG has pledged to scrutinize Starlink broadband grants.
Tesla is winding down the Cybertruck so Cybercab can take its factory floor
Musk said Cybertruck production at Gigafactory Texas winds down around the middle of next year for Cybercab. Cox Automotive estimated 20,237 U.S. Cybertruck sales last year, far below Musk's earlier prediction that annual sales would eventually total 250,000. The AI pivot is eating the product line.
Fox holds investor calls ahead of an expected Roku-deal bond offering
Fox ($FOXA, $FOX) is holding investor calls Monday ahead of an expected multipart Roku-deal bond offering, Mononews reported, citing Bloomberg. The Nov. 6 close brought $10.4 billion of new loans, including a 364-day bridge it expects to refinance with senior unsecured debt.
Citi cuts US stocks and tech to neutral, upgrades Europe ex-UK on AI turbulence
Beata Manthey's team is still positive on AI longer term but warns crowded positioning and further selling could keep tech under pressure.
Hedge funds cut tech near the fastest pace in Goldman data since 2016 amid midterm AI concerns
U.S. long/short gross leverage fell 8.7 percentage points to 207.5%, the largest weekly drop since March 2020, Goldman prime data show.
Japan bought a record ¥7.98 trillion of yen in one day, MOF data show
Japan's Ministry of Finance said the government sold dollars and bought yen totaling ¥7,975.6 billion on July 30, above April's record. Total July–September intervention was ¥15,399.3 billion.
July 31 included coordinated yen-buying with the United States, Asahi reported.
Treasury keeps auctions steady but softens guidance on future coupon sizes
Treasury dropped “at least” from its pledge to hold coupon sizes, and analysts read that as an opening for changes in the first half of 2027.
Democrats win the House and Senate, and investors weigh what it means for AI and taxes
Bonds won the morning as investors bet gridlock will slow government spending and a Democratic Congress will look harder at AI.
Apollo lost $1.1 billion mostly on rate marks at its retirement arm and called it a strong quarter
Higher rates hit unrealized values at Athene, Apollo's retirement business, and pushed the firm to a GAAP loss. Its CEO led with record origination. The loss deserved the top line.
Stock futures are mixed and Treasury yields edge up as Election Day arrives
Polls favor Democrats to win the House while the Senate is uncertain, and analysts see different implications for spending and markets.
Nasdaq-100 falls into its third correction this year as AI spending doubts grow
Investors are questioning when Big Tech's hundreds of billions in AI spending will pay off, and weak results from Alphabet and disappointing forecasts from Intel and ServiceNow added to the doubts.
Oracle set a $20 billion cap on new market funding, then filed for all of it five days later
Oracle pledged to limit new capital raises through FY30 to $10 billion of stock and $10 billion of debt. On Monday it filed for both. That's a schedule, not a discipline.
US stocks end mixed as AI worries fade a rally and oil drops on Iran talk hopes
US stocks ended mixed Monday as a morning rally faded on growing worries about AI spending, AP reported. Oil had its sharpest drop in three months on hopes for US-Iran talks, per NBC News, and most S&P 500 stocks still rose.
Gold rebounds from a one-year low as oil's slide eases inflation worries
Gold rebounded Monday from a one-year low as falling oil eased inflation worries, CNBC reported. Traders now put the odds of a December Fed rate hike at roughly 75%, down from 80% a week ago, per CME's FedWatch Tool.
Intel shares tumble after a weak forecast hit by the PC slowdown and an Israel fab blast
Revenue rose 21% and data center sales jumped 78%, but Intel guided fourth-quarter revenue below estimates and its finance chief said a deadly fab explosion in Israel will cut about $300 million from fourth-quarter revenue.
Boeing slides almost 11% on earnings day while SoFi jumps 13%
Boeing posted a core loss of 34 cents a share, SoFi grew members 35%, Robinhood missed profit estimates and JetBlue's shares jumped. Here's Tuesday's earnings roundup.
Oil wavers as Saudi Arabia's defense minister holds de-escalation talks in Tehran
Saudi Arabia's defense minister met Iran's president in Tehran after Qatari mediators visited on Sunday. Oil fell in the morning and was mixed by midday as Houthi attacks on Saudi Arabia continued.
EQT is buying Range Resources in an all-stock deal Reuters values at $12.8 billion
Range holders get 0.987 EQT shares for each Range share. The "over $50 billion" figure is the combined company's enterprise value, debt included, not the price.
Elon Musk says most of the 200-plus neoclouds face 'guppy-level death,' and his SpaceX competes with them
Musk says debt markets have nearly cut off AI cloud companies that lack other revenue. Nebius points to a new $3.5 billion Citi facility, and Nvidia's CEO says the capital gap will close.
Tech steadied after Thursday's AI rout, but the Nasdaq still closed lower
A midday tech bounce faded by the close as investors kept weighing the cost of AI spending, while a Bloomberg report on SpaceX's wireless plans hit telecom stocks.
Gold didn't break as a haven. It got sold for cash as hike bets rose
Gold fell below $4,000 as markets priced a 78% chance of a December hike and margin calls hit. In my view that's gold working as cash, and the real story is the Fed's bind.
Gold falls below $4,000 for the first time since July as oil fuels Fed hike bets
Rising oil prices lifted Fed rate-hike bets and a tech sell-off pushed investors to sell gold to cover losses, leaving the traditional haven on track for its worst week since June.
JetBlue's senior creditors are working with a restructuring adviser, the WSJ reports
The Wall Street Journal and Bloomberg say lenders have lined up advisers ahead of JetBlue's third-quarter results. JetBlue says it remains confident in its JetForward plan.
GM just had its worst week in nearly three years, by Bloomberg's count, and the analysts it tracks still aren't saying sell
GM's stock slid amid concerns about a narrower 2026 outlook and rising commodity costs, despite a quarterly beat and a new $20 billion buyback authorization.
Apple briefly passed Nvidia as the world's most valuable publicly traded company on iPhone Duo launch day
It's the fifth time Apple has retaken the top spot, by Yahoo Finance's count. Nvidia moved back ahead later in the day.
Global credit spreads hit a 17-month high as AI borrowing fears spread to bonds
A Bloomberg index of global corporate bond spreads hit its widest since May 2025. This week Meta disclosed about $825 billion in commitments and a forecast need to raise hundreds of billions of dollars.
The credit market just got a vote on AI, and Meta handed shareholders the bill
Opinion: Meta's free cash flow turned negative and its default swaps hit a record. Its funding plan, a non-voting share class it says helps avoid debt, shows who now gets a say in AI spending.
Western Digital and Bloom Energy beat estimates, Deckers cut its sales outlook, and all four stocks fell
All four reported after Thursday's close. Deckers raised its EPS outlook while cutting its sales forecast, and Newmont's sales rose even as it sold less gold.
SpaceX is reportedly seeking at least 80,000 US cell sites, and tower stocks are rallying
Bloomberg News reported SpaceX is in talks with tower owners including Crown Castle for at least 80,000 US sites. No signed lease has been reported, and the companies haven't confirmed the talks.
Oil hits a five-month high as Houthi strikes on Saudi Arabia pile onto supply fears
A drone strike near Aramco's Shaybah field and an attack on Dammam's airport sent traders back to the risk premium, even as Saudi Arabia's Energy Ministry said operations at Shaybah were unaffected.
Moderna slides after its cancer vaccine data leaked early, even though the results looked strong
Partial Phase 3 results with Merck slipped out ahead of Saturday's ESMO presentation. The full data showed a 42% cut in the risk of recurrence or death, but after a 530%-plus run this year, analysts say expectations were higher still.
China's state-favored funds draw billions, and stocks sink deeper into a bear market anyway
Funds favored by Beijing's 'national team' took in 46 billion yuan on Thursday, the most since April 2025, but the CSI 300 kept falling Friday as stimulus hopes faded and AI trades cooled.
10-year Treasury yield drops below 5% as AI jitters send investors running for safety
A sell-off in stocks over the AI trade sent money into government bonds on Thursday, pulling the 10-year yield under 5% for the first time since Sept. 23, with the odds of a Fed hike next week down to 7.2%.
Meta's capital spending pushed its free cash flow negative, and its default insurance hit a record
Meta's free cash flow came in at negative $2.12 billion as capital spending outran operating cash. Its five-year credit default swaps hit a record and the stock fell, even though revenue topped estimates.
Elon Musk has put roughly $1 billion into Skydance, Semafor reports
Semafor says Musk's deal came together alongside other equity investments, including from board member Laurene Powell Jobs. Neither Skydance nor Musk has confirmed it.
Lam Research sinks after a record quarter as Lockheed raises its outlook again
Lam Research's supply constraints and China warning outweighed record revenue. Tesla cut its spending plan, Lockheed's backlog hit a record, and P&G beat on earnings.
Alibaba slides as China's market regulator leans on online platforms over product quality
China's market regulator pressed Taobao's parent and its rivals to act as product-quality "gatekeepers." It outlined no immediate measures, but Alibaba's Hong Kong shares had their steepest intraday drop in two months, Investing.com reported.
China's blue-chip stocks hit the edge of a bear market as stimulus hopes fade
The CSI 300 fell as much as 1.6% Thursday, leaving it around 20% below its June high, as a soft earnings season, a consumer slump and AI jitters meet fading hopes for big stimulus from Beijing.
Oil edges higher as Iran claims Hormuz mine strikes no one has verified
Iran's Revolutionary Guards say their mines hit tankers near the Strait of Hormuz. Nobody has independently confirmed it, but documented attacks on shipping and threats to Saudi oil sites have traders wary of supply risk.
Bitcoin rides the AI earnings mood, but the outlets can't agree on why
CoinDesk credits SpaceX and Super Micro for reviving the AI trade, Cointelegraph points to GM and 3M, and Bloomberg calls bitcoin little changed. Spot ETF flows may be the clearer signal.