Treasury yields pushed toward 5% as wholesale inflation data and the ECB’s rate hike combined to extend the bond selloff. Oracle reports tonight as the market’s most anxious AI earnings watch.
Today’s edition has the yield story, the Oracle setup, and every name that moved.
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Three Insiders Bought $3.5 Million While A Major Holder Filed To Sell $114.8 Million
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Markets
The 10-year yield hit 4.962% — highest since October 2023 — powered by four things hitting simultaneously: August PPI came in hotter than expected, the ECB raised rates and flagged inflation “set to remain well above target for an extended period,” Brent crude crossed $107 intraday following fresh Middle East escalation, and Trump’s promise of $5,000 to every American adult if Republicans win the midterms reminded bond investors that the fiscal situation isn’t improving.
The ECB’s hawkish language marked a notable shift from July — it pushed European yields higher first, and those moves spread directly into US Treasurys, giving the selloff a second wind in the afternoon. Brent crossed $107 intraday — its highest close since May — as WSJ reported that advisers to President Trump have privately told him the Iran conflict could run through the end of his term in 2029; diesel approached $6 a gallon, and gasoline hit $4.28 nationally.
Oracle reports after the close tonight; the company is the most financially stretched of the major AI cloud players and the one investors are most anxious about; shares were down about 3% ahead of the number.
DJIA [-0.60%]
S&P 500 [-0.58%]
Nasdaq [-0.65%]
Russell 2000 [-1.02%]
Market-Moving News
Manufacturing & Materials
Chemours Reaches $455 Million Deal Over North Carolina Pollution Claims
Chemours, DuPont and Corteva have agreed to a $455 million settlement with North Carolina and 11 local entities, resolving litigation over PFAS contamination linked to the
Fayetteville Works facility and other historical discharges.
Payments will stretch over 15 years, with Chemours responsible for half and its former corporate partners covering the remainder, while the agreement establishes procedures for remaining drinking-water obligations and gives the manufacturer greater clarity over a major legacy liability.
TTM Lines Up Financing for Its $1.1 Billion Epiq Acquisition
TTM Technologies has proposed a $500 million debt offering due in 2034 to help fund its planned $1.1 billion acquisition of Epiq Solutions, adding specialized radio systems and signal-processing products to its electronics manufacturing business.
The financing package also includes $1.1 billion in additional term loans, with management projecting net leverage of roughly 2.3 times at closing before targeted reductions over the following 12 to 18 months as the combined business generates cash.
Technology & Software
Google Takes Gemini Onto the Factory Floor
Google has developed robots that weld from blueprints with Japanese automation specialist Fanuc, according to Nikkei, using Gemini Enterprise to interpret production drawings without requiring workers to program the welding process manually.
Deliveries are scheduled to begin in December, giving Google a concrete industrial application for its enterprise AI platform and focusing the partnership on simplifying factory automation through instructions manufacturers already use in their production workflows.
Snap Turns Group Chats Into Actual Plans
Snap has launched event-planning tools inside Snapchat, allowing users to organize gatherings, invite up to 200 friends, and collect attendance responses directly through private chats, with personalized invitations and event details managed within the app.
The rollout builds on Snap’s finding that roughly a third of young American users already arrange activities through messages and group chats, adding guest lists, reminders and dedicated planning sections to support that existing behavior.
Finance & Treasury
Nasdaq Commits $100 Million to Tokenized Stock Trading
Nasdaq’s venture arm agreed to invest $100 million in Payward, the parent of cryptocurrency exchange Kraken, expanding a partnership to build infrastructure that allows tokenized equities to trade and settle beyond conventional market hours.
The companies expect to launch Nasdaq Equity Tokens through Payward’s xStocks platform in the second quarter of 2027, with the proposed system designed to preserve shareholder rights, regulatory safeguards, and liquidity while connecting established securities markets with blockchain infrastructure.
Redwood Looks to Push Debt Repayments Further Out
Redwood Trust has proposed a $150 million convertible note offering due in 2030, with part of the proceeds intended to retire existing convertible debt maturing in 2027 through privately negotiated transactions.
Initial purchasers have an option to acquire another $22.5 million of notes, and Redwood plans to direct up to $20 million toward common-stock repurchases, pairing the refinancing with a capital-return measure as the housing-finance company manages its upcoming obligations.
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Defense & Aerospace
SpaceX’s Military Network Gains Ground in Britain
SpaceX has received nearly $40 million from Britain for satellite services, according to government disclosures, making the country the first outside America to acknowledge using Starshield for military communications publicly.
Britain’s defense ministry operates about 1,000 Starshield terminals and 500 Starlink terminals, with operational traffic shifting toward the military service, which offers stronger encryption, higher network priority, and dedicated contractual terms as SpaceX separates defense customers from its civilian offering.
Swarmer Adds Ground Robots With $224 Million Acquisition
Swarmer has agreed to acquire Ukrainian manufacturer Ratel Robotics for up to $224 million in cash and stock, expanding its drone-autonomy platform into uncrewed ground vehicles used for battlefield logistics, casualty evacuation, reconnaissance and demining.
Ratel has secured $86 million in contracts this year, and Swarmer plans to combine its vehicles with autonomous coordination software, adding more than 300 employees through a transaction that includes performance-based payments and remains subject to regulatory and shareholder approvals.
Health & Medicine
Axogen Adds Sutureless Nerve Repair With $200 Million Deal
Axogen has agreed to acquire BioCircuit for $200 million, adding NerveTape, a device that connects severed peripheral nerves without microsutures, with closing expected in the fourth quarter, subject to customary conditions.
The company priced a roughly $208.7 million offering to fund the purchase and expects BioCircuit to improve revenue growth, adjusted operating margins, and adjusted earnings in the first full year after closing.
Biohaven Pauses Epilepsy Trial Enrollment After FDA Hold
Biohaven has paused new enrollment in epilepsy trials after the FDA requested additional animal-study data to assess a metabolite associated with BHV-7000, placing part of the drug’s development program on hold.
Dosing continues for more than 600 previously enrolled patients, while one pivotal study completed recruitment in June and remains on schedule to report results in the second half of 2026.
Top Winners and Losers
Tenon Medical [TNON] $5.30 (+117.21%)
Tenon Medical makes the CataMaran SI Joint Fusion System, a minimally invasive device for sacroiliac joint fusion that addresses chronic low back pain.
The company disclosed it repaid its outstanding convertible notes early… removing the primary dilution risk that had been pressuring the stock and keeping it below $5 all summer. When you eliminate the threat of share dilution in a small medical device company, the market responds the way it did today.
Digital Brands Group [DBGI] $6.79 (+81.07%)
Digital Brands Group operates fashion labels including DSTLD and Bailey 44. The stock ran 81% on heavy volume after building positioning from a base below $5, catching a bid as consumer discretionary names recovered in the session.
The company has been restructuring its brand portfolio around direct-to-consumer channels, and today’s move reflects active accumulation rather than fundamental news.
Euroholdings [EHLD] $15.70 (+20.77%)
Euroholdings provides transportation and logistics services with a P/E of 4.67x and a 4.31% dividend yield — a genuinely profitable, dividend-paying logistics company catching continued institutional interest as Hormuz rerouting dynamics push demand to European carriers operating alternative shipping lanes.
The stock has appeared on the winners list multiple times this month as the positioning builds.
MKDWELL Tech [MKDW] $5.10 (-48.54%)
MKDWELL Tech makes smart home automation and IoT systems across commercial and residential applications. The stock fell 48% on over 100 times its average daily volume.
A combination that typically signals either a dilutive equity offering, a convertible note issuance, or a regulatory development. At $338.91 million, the scale of the move in a single session on that volume makes this a specific institutional event rather than a sentiment-driven selloff.
Founder Group [FGL] $5.10 (-24.89%)
Founder Group provides industrial services and has now logged large percentage losses across multiple consecutive sessions.
The stock is giving back prior gains without a confirmed new negative catalyst, which means the exit pressure is mechanical. Sellers continue to reduce positions in a name with limited trading liquidity, where each day’s exit moves the price further from the prior close.
Navan [NAVN] $20.26 (-21.75%)
Navan beat Q2 estimates — revenue of $232.8 million, up 35% year-over-year, with EPS beating consensus — raised its full-year outlook, and announced an acquisition of corporate events platform BoomPop.
None of it was enough: TD Cowen cut its price target from $34 to $31, the full-year guidance only matched consensus rather than beating it, and when a growth stock trading at a premium multiple delivers in-line guidance, the market reprices the multiple immediately.
The stock market crash of 1929 is famous — but the magnitude of the damage is often understated. What happened to the Dow Jones Industrial Average from its 1929 peak to its 1932 trough, and how long did it take to fully recover?
- The Dow fell 54% from its 1929 peak, reaching its low in 1931 — it recovered to 1929 levels by 1936, a seven-year process that was accelerated by New Deal spending
- The Dow fell 89% from its September 1929 peak to its July 1932 trough. It did not return to its 1929 high until 1954 — 25 years later.
- The Dow fell 66% from peak to trough between 1929 and 1933. The New Deal's programs directly supported the market's recovery, which reached 1929 levels by 1939.
- The Dow fell 73% and recovered in stages — briefly reaching 1929 levels in 1937 before collapsing again in the recession of 1937-38, finally stabilizing above pre-crash levels in 1945
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Everything Else
What made the Magnificent Seven great was visible long before the crowd arrived, Analysts say these 7 stocks are showing those same early indicators today.
Wall Street slipped after producer inflation came in hotter than expected, reviving concerns over price pressures and the path for Federal Reserve rates.
Google launched a Gemini app for Windows with a dedicated keyboard shortcut, bringing its AI assistant directly onto Microsoft’s desktop operating system.
Bond investors remain unconvinced by Bessent’s expanded Treasury buyback push, with concerns over government debt and borrowing costs still hanging over the market.
President Trump announced $500 Obamacare refunds while citing Biden-era overcharges, putting healthcare costs back in focus for millions of Americans.
U.S. lawmakers are calling for new AI rules after Anthropic researchers raised safety warnings, adding fresh pressure in Washington for tighter oversight of advanced AI systems.
OpenAI is working with Samsung on next-generation chips, deepening their partnership as demand for more powerful AI computing infrastructure keeps growing.
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