Wall Street got a reality check this morning, and the mood shifted fast once the data landed on everyone’s desks. A couple of Fed voices did little to soothe the room, and tonight carries its own big test for a hot corner of the market.

Keep scrolling, because the details are where the day gets interesting and a bit surprising.

Trump has issued his orders to the Fed: America should have the "lowest interest rates anywhere in the world." Lower rates have historically been good news for gold.

Meanwhile China keeps loading up by the tonne, officially adding 20 tonnes in July, its 21st straight month of buying. Goldman Sachs estimates the real number was 35 tonnes.

Go here for the details.

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Consumer prices rose 0.4% in October against a forecast of 0.3%, and the core reading ran hot too. Fed governor Christopher Waller and Dallas Fed president Lorie Logan then leaned hawkish, and traders began pricing a small chance of a half-point hike next month.

The two-year Treasury yield had its biggest jump in over a year while the ten-year flirted with 5%. Nvidia kept sliding for a second straight day amid its spy scandal, even as its forward valuation sank to the lowest since 2011 on one measure.

CoreWeave reports after the bell, a gut check on whether AI buildouts can keep sprinting, with Nebius following Thursday. Crude eased after President Trump called renewed Iran strikes quite unlikely, and grocery shoppers got a beef reminder: prices jumped 0.9%.

Google agreed to stronger privacy protections for its $10 million purchase of Spirit Airlines employee data, excluding medical information and tightening de-identification procedures ahead of a court review of the sale next week.

IBM ended visa and green card sponsorship for most consulting roles, with affected employees facing overseas transfers or year-end departures as the company adjusts staffing policies under tighter U.S. immigration restrictions.

Goldman Sachs and Citigroup joined banks committing approximately $270 million to a stablecoin venture, funding its first 5 years of operations ahead of a targeted launch in the first half of 2027.

loanDepot formed Davidson Mortgage with homebuilder Davidson Homes, expanding mortgage services across 6 states through a joint venture combining its lending platform and financing options with support for buyers from contract to closing.

The U.S. national debt just passed $40 trillion. Servicing it now costs more than the entire defense budget.

See what that means for your savings.

Inflation is still above 3.5%, so every dollar in cash quietly buys less. Central banks are stockpiling gold at the fastest pace in decades.

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GE Vernova announced a $34.5 million expansion of its Shreveport transformer factory, adding 175 jobs and increasing production capacity to meet electrical infrastructure demand.

Stabilis Solutions secured a 3-year LNG supply agreement with an existing aerospace customer, covering at least 230,000 gallons per month for operations at Mississippi's Stennis Space Center.

ZipRecruiter [ZIP] $6.59 (+53.61%)

ZipRecruiter posted revenue of $124.4 million and adjusted EBITDA of $20.8 million, both above the top of its own guidance, then raised its full-year outlook. Product tweaks that spark more employer and candidate conversations pushed engagement to records.

In a year when AI keeps threatening job boards, the stock jumped by more than half on some old-fashioned human connection.

Ameresco [AMRC] $27.62 (+23.03%)

Ameresco’s project backlog hit a record $7.2 billion, up 39%, after $875 million in fresh awards. Revenue climbed 10% to $580.3 million and adjusted EBITDA rose 24%.

Management also tweaked guidance for a new joint venture accounting method, which investors shrugged off. Energy projects booked for years make a comforting storyline when headlines get jumpy.

Office Properties Income Trust [OPI] $16.50 (+20.17%)

Since leaving bankruptcy in June, this office landlord has been quietly tidying up. Same-property income rose 14.8%, occupancy climbed to 80.7%, and management said property sales are landing at or above expectations.

A fresh $425 million note deal also pushed debt maturities out to 2029. Buyers decided the empty-cubicle jokes could wait and bid shares up a fifth.

Digital Turbine [APPS] $7.25 (-35.84%)

Digital Turbine delivered revenue up 27% and a raised profit outlook, yet shares sank by more than a third.

Blame the fine print: it revised last quarter’s books after understating revenue share costs by $3.5 million, and gross margin slipped to 43% from 47%. Investors wanted growth with their math checked, and today the receipt looked messy.

Exagen [XGN] $5.26 (-25.92%)

Exagen’s autoimmune testing business grew revenue 7% to $18.4 million and held its full-year forecast steady.

Steady was not the plan. Operating losses widened as expenses climbed, and cash dropped to $28 million from $36 million a year ago. Shares gave back about a quarter of their value, a harsh grade on a quiet report card.

Robo.ai [AIIO] $5.55 (-25.80%)

Robo.ai tried the classic makeover: a 1-for-25 reverse split that swapped a sub-dollar share price for a more presentable one. Traders sold the new look anyway.

The shares had slipped under Nasdaq’s $1 minimum, so the reshuffle was more chore than victory lap. Thin trading meant each seller left a visible footprint on the way down.

This man just got inside a Cybercab, Elon Musk’s new car that has no steering wheel or pedals.

What happens next will shock everyone.

Click here to see this exclusive footage.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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