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NASDAQ 26,008.86 ▼ -2.60%
SPX 7,663.43 ▼ -1.21%
DJI 52,867.98 ▲ +0.02%
BTC $81,270.88 ▼ -3.26%
GOLD $4,043.60 ▼ -2.56%
SLVR $54.70 ▼ -4.74%
OIL $99.35 ▲ +2.26%
10Y 4.95% ▼ -3.81%
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Good Morning! Social Security has been cleaning out its files, and what it found might surprise you. Millions of records were missing a date of death, even though the people had died. Loose Change has the full count.
Is Netflix running low on must-watch shows? One Wall Street firm thinks so, and it isn’t expecting a quick fix. See why analysts soured on the stock in our Buy, Hold, Sell section.
Are you helping a child or grandchild save for school? Hit reply and tell us how. Then scroll to the bottom of this edition and see how you do on today’s Finance Quiz.
You watch where your money goes. But when was the last time you checked this recurring expense? Today’s sponsor, FinanceBuzz, offers a starting point for exploring your auto insurance options.
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Wall Street is starting to doubt the AI spending spree.
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Let’s start with stocks. The Nasdaq fell 2.6% yesterday as AI stocks tumbled. The S&P 500 lost 1.2% for its worst day since July. Still, most U.S. stocks actually rose, and the Dow edged up slightly. Investors also piled into bonds, pulling the 10-year Treasury yield down to 4.95%, its first dip below 5% since September.
Investors are questioning whether all the money tech companies are pouring into AI will pay off. Meta’s stock fell sharply after the company announced plans for a new class of shares without voting rights to help pay for its AI spending. Tesla also slipped after cutting how much it plans to spend this year. Data centers are getting harder to build, too. Local opposition has blocked or delayed dozens of large ones in the U.S. this year.
Oil prices jumped after Iran’s Revolutionary Guard said seven ships were hit or damaged in the Persian Gulf, including oil tankers. Iran-backed Houthi rebels also attacked targets in Saudi Arabia. Brent crude, the global benchmark, rose above $111 a barrel, its highest since May. U.S. crude climbed to about $99.
 What to watch today: At 10 a.m. ET, the University of Michigan releases its final reading of consumer sentiment for October. American Express reports earnings before the opening bell.
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Flying together with our sponsor
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Your Car Insurance Deserves the Same Scrutiny as Your Investments
You compare prices on flights, groceries, and just about everything else. But your car insurance? That bill might be running on autopilot.
And a familiar monthly payment isn’t necessarily a competitive one.
Before your next renewal, consider giving that expense a second look. Explore auto insurance options through FinanceBuzz and see whether there’s a better fit for your budget.
The goal isn’t simply finding the lowest number. Compare coverage limits, deductibles, and policy details alongside the price so you know what you’re getting.
If you find comparable coverage for less, that’s money you could put toward savings, investments, or something you actually enjoy.
You already put thought into growing your money. Give one of your recurring bills the same attention.
See How Your Auto Insurance Stacks Up »
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➤ Buy: Baird upgraded defense contractor Northrop Grumman (NOC) from Hold to Buy and raised its price target from $552 to $675. Northrop has a record number of orders waiting to be filled and expects to keep growing through 2028. (More)
➤ Hold: Needham downgraded Netflix (NFLX) from Buy to Hold after the company’s latest forecast disappointed. Needham thinks new content chief Peter Rice will need about two years to bring back the big U.S. hits Netflix has lacked lately. (More)
➤ Sell: RBC downgraded Mobileye (MBLY) from Hold to Sell and lowered its price target from $7 to $5. Mobileye makes driver-assistance technology for cars, and RBC worries carmakers will switch to chips from rivals like Nvidia and Qualcomm. (More)
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2019-2026
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Candy prices have climbed far faster than inflation since 2019, up about 50%.
➤ Candy prices have risen about 50% since 2019, while prices overall are up about 31%. The biggest jumps came in 2022 and over the past two years, including a 7.7% rise in the year through September.
Cocoa is a big reason. Ivory Coast and Ghana grow at least half of the world’s cocoa, and bad weather has hurt their harvests since 2021. Cocoa buyers often sign contracts up to a year ahead, so higher costs take time to reach store shelves. Americans still plan to spend about $4.1 billion on Halloween candy this year.
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Source: Bureau of Labor Statistics, National Retail Federation.
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Alternative Assets
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Gold is down more than 25%, even as inflation runs hot.
➤ Gold hit a record of about $5,600 an ounce in January, but now trades just above $4,000. That’s a rough turn for anyone who bought coins, bars, or gold funds to protect their savings from rising prices.
The catch is that gold doesn’t pay interest. With the Fed raising rates to fight inflation, savings accounts and bonds pay more, and gold has a harder time competing. When this month’s inflation report came in hotter than expected, gold actually fell, because investors saw another rate hike coming.
Gold can swing as hard as stocks. Its price nearly doubled from January 2025 to January 2026, but it’s been sliding ever since. With the Fed expected to raise rates again, the drop may not be over.
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➤ About one in five Americans have cut back on groceries or thought about doing so to pay their electric bills, a new survey found. Power prices in major U.S. cities are up 14% over the past three years. (More)
➤ Social Security says it fixed nearly 15% of active Social Security numbers in its largest records cleanup ever. The agency added 17 million missing death dates and updated citizenship information on about 25 million records. (More)
➤ Secretary of State Marco Rubio visited the world’s largest oil refinery in India as the U.S. looks for more diesel. The refinery’s owner, Reliance Industries, is also planning a large new refinery in Texas. (More)
➤ Amazon plans to hire more than 300,000 workers this holiday season, 20% more than in recent years. Starting Jan. 1, many seasonal workers will also get health coverage from their first day. (More)
➤ Goldman Sachs, JPMorgan, and Morgan Stanley brought in $52 billion trading stocks this year, nearly 80% of what Wall Street’s five biggest banks made. Lending to hedge funds betting on AI drove much of the haul. (More)
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▲ BULLISH · 76%
Composite score based on our previous edition’s votes.
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What is a 529 plan?
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