HAPPY SATURDAY TO THE STREET.
And welcome back to Street Tweets from The Street Sheet!
Forget Succession — Silicon Valley’s best soap opera is back.
In testimony revealed this week, OpenAI co-founder Ilya Sutskever accused CEO Sam Altman of “creating chaos” and “pitting people against each other” before his 2023 firing. The memo that started it all is now evidence in Elon Musk’s lawsuit.
Another red flag for the conspicuously revenue-lacking unicorn…
— Brooks & Cas
MARKET REVIEW & PREVIEW
US equities stumbled into their first losing week in a while. The catalyst: AI jitters. Valuation concerns had already been mounting the week prior, driven by queasy Big Tech earnings, and now the Big Bank execs have joined in. It didn’t quite scream “popped bubble”. But the crack are starting to show.
Assuming the record-long government shutdown stretches into another week, we won’t get key inflation prints next week, when the CPI and PPI were originally due. However, earnings season will continue in earnest. Calls from Applied Materials $AMAT ( ▼ 1.48% ) and CoreWeave $CRWV ( ▼ 2.73% ) will have a chance to extinguish the AI meltdown — or add more fuel to the fire.
Want to learn more? Click through to read the full Market Summary.
Presented by Street Sheet Research
Then you’re missing out. Every Saturday, Street Sheet Research subscribers receive an institutional-quality PDF outlining all the important happenings on Wall Street over the past week — and dozens of potential ways to play them.
Today, we covered why one critical mineral could be the canary in the coal mine for AI, how TrumpRx could be “less bad than feared” for Big Pharma, and much more. The best part? Even if you missed it, it’s not too late.
SCOTUS could issue the market’s next rebate.
Goldman $GS ( ▼ 0.16% ) thinks we’ll get a ruling by January.
Could this keep the rally going through the new year?
Buffett and Pelosi in one year?
It’s truly the end of an era.
Without the Congresswoman’s financial disclosure reports, a certain subculture of retail traders just lost their Bloomberg Terminal.
Presented by Street Sheet Research
Tariffs are back. Walls are rising. The Red Sea — once a superhighway — is now a bottleneck. Supply chains are being forced into longer, costlier, more fragile routes.
And someone is making money off the chaos.
In our newest Street Sheet Research report, we break down this rare shift in shipping — and why it is quietly funneling profits toward a class of operators positioned to win in an increasingly inefficient world.
Specifically, we’ve identified one stock directly exposed to this trend, with a rare setup to take advantage.
There’s still time to ride the wave. But there might not be for much longer. So take a look while you can still take action.
Ah, yes. The old “backstop” backpedal.
The AI boom reached the government bailout phase in record time.
ICYMI, ESPN Bet will shut down, effective Dec. 1.
Disney $DIS ( ▲ 0.23% ) and PENN Entertainment’s $PENN ( ▼ 0.75% ) 10-year, $2B deal will end 8 years early.
To be fair, a Sportsbook from one of the biggest sports networks in the world doesn’t feel like the biggest swing…
Where did it go wrong? 🤔
What’s the difference between sports betting and investing?
One is gambling on larger-than-life figures with multimillion-dollar salaries, trying to defy the First Law of Thermodynamics on a global stage.
The other is sports betting.