Sponsored by |  |
|
|
| This week’s world-famous-news-haiku-competition™ is about how Americans are spending more money on hobbies despite economic pressure. Send me your entry — to haiku at cheddar dot com — by noon ET Thursday, for consideration by your Cheddar peers. | But first? News! | Matt Davis — Need2Know Chedditor | | Table of Contents | | | What’s the Stock Market Up To, Eh? | $SPX ( ▲ 0.58% ) $DJI ( ▲ 0.49% ) $NDX ( ▲ 1.59% ) | | Companies Mentioned in Today’s Newsletter | $META ( ▼ 0.41% ) $TSLA ( ▲ 0.52% ) $AMZN ( ▲ 1.95% ) $MSFT ( ▲ 0.78% ) $NVDA ( ▲ 0.14% ) $MRVL ( ▲ 5.81% ) $AMD ( ▲ 2.8% ) $CEG ( ▲ 12.25% ) $GOOG ( ▲ 0.22% ) $OPCH ( ▲ 32.65% ) $MCK ( ▲ 0.68% ) $TSLA ( ▲ 0.52% ) $F ( ▲ 1.07% ) $MCD ( ▼ 0.25% ) $SPCX ( ▲ 0.49% ) | | Stocks Hit Record Highs Again |  | (Google) |
| Just when you thought the stock market couldn't possibly squeeze any more juice out of the AI hype train, it could. Both the benchmark S&P 500 $SPX ( ▲ 0.58% ) and the Nasdaq $NDAQ ( ▲ 0.09% ) leaped to shiny new record highs as Treasury yields stalled and oil prices slipped. | David Miller, chief investment officer at Catalyst Funds, told Reuters, "The economy continues to be more resilient than many expected, and corporate earnings remain strong, but the big change is rising interest rates." He added, "Investors are now dealing with meaningfully higher long-term rates.… I am still bullish on equities, but the hurdle has gone up significantly.” | Naturally, the “Magnificent Seven” were leading the victory lap, with Meta $META ( ▼ 0.41% ) , Tesla $TSLA ( ▲ 0.52% ) , Amazon $AMZN ( ▲ 1.95% ) , and Microsoft $MSFT ( ▲ 0.78% ) all floating higher. Meanwhile, AI heavyweight Nvidia $NVDA ( ▲ 0.14% ) climbed 1.1%, casually nudging its market cap toward an eye-watering $6 trillion valuation. Not to be outdone in the silicon arms race, chip designer Marvell Technology $MRVL ( ▲ 5.81% ) surged 6.5% after raising its 2028 revenue forecast to $20 billion, while AMD $AMD ( ▲ 2.8% ) gained 3.6% after CEO Lisa Su promised the company plans to "substantially increase chip supply in 2027" to meet surging AI demand. Even power grids and healthcare got invited to the party. Constellation Energy $CEG ( ▲ 12.25% ) shot up 13.9% as the S&P’s top gainer thanks to a massive 3,590-megawatt power deal with Alphabet’s Google $GOOG ( ▲ 0.22% ) . Over in healthcare, Option Care Health $OPCH ( ▲ 32.65% ) skyrocketed 32.7% following a $5.8 billion buyout agreement involving drug distributor McKesson $MCK ( ▲ 0.68% ) . | They can only go up from here, of course. Or down. They can also go down. #NotFinancialAdvice | | | Quote of the Day | | | This ‘Temu Range Rover’ Is Britain’s Best Seller |  | (The Jaecoo Cherry) |
| Move over, traditional luxury. Britain’s car buyers have spoken, and they prefer a discount over prestige. The Jaecoo 7 SUV, affectionately dubbed the “Temu Range Rover” for mirroring the sleek looks of a Range Rover Velar at roughly half the sticker price, just claimed the title of Britain’s best-selling new car for September. | Notching up 10,813 deliveries last month, the Chinese-built crossover managed to comfortably outpace Elon Musk’s Tesla Model 3 $TSLA ( ▲ 0.52% ) and the long-favorite Ford Puma $F ( ▲ 1.07% ) . In fact, Chinese automakers stormed the UK market, capturing 23% of all new-car sales. Victor Zhang, managing director of Jaecoo UK, gleefully told the Daily Mail that the brand is "no longer a newcomer" in Britain, adding that the goal now is to "turn rapid growth into lasting strength" through expanded retailer networks and after-sales support. | There is, however, a slight catch that might leave bargain-hunters sweating. Despite dominating the sales leaderboard, the Jaecoo 7 was ranked the sixth least dependable model overall in a What Car? survey of 40,000 drivers, with owners complaining about electrical glitches, infotainment meltdowns, and week-long repair delays. Still, it’s cheap. And it looks good. What could possibly go wrong? | |
|
