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• Oracle agreed to buy 50,000 GPUs from Advanced Micro Devices to build out its artificial intelligence capacity. 
• Oracle said its initial deployment of those chips will begin in the third quarter of 2026, with more expected after that.

Advanced Micro Devices just racked up another major AI deal, with signs of more to come.

Cloud computing giant Oracle (ORCL) said Tuesday that it agreed to buy 50,000 GPUs from AMD (AMD) to build out its capacity to help customers scale their use of AI.

Oracle said its initial deployment of those chips would start in the third quarter of next year, with that number likely to expand in 2027 and beyond. The company said that as demand for AI grows, “customers need flexible, open compute solutions engineered for extreme scale and efficiency.”

AMD's latest deal with Oracle offers a strong signal for broader AI demand, as well as growing market share for the chipmaker and potentially others that have trailed AI chip leader Nvidia.

Shares of AMD were up about 3% in recent trading, not far from their record highs set earlier this month. They've added 85% of their value this year, with more than half of those gains coming in the wake of the massive partnership with ChatGPT maker OpenAI unveiled on Oct. 6.

Oracle shares were 2% lower Tuesday, but have climbed roughly 80% in 2025 so far on its rosy outlook for AI-driven growth.

• Federal Reserve Chair Jerome Powell said data show the job market deteriorating, suggesting he and other Fed officials will be willing to cut the central bank's key interest rate in the coming months to boost the job market.
• The Fed is tasked with maintaining price stability and preventing a surge in unemployment.
  
• Federal officials are attempting to strike a balance between the need to stimulate the job market by lowering rates and the risk that tariffs could spark inflation, all while lacking data that helps their decision-making.
  

Financial markets widely expect the Federal Reserve to cut borrowing costs again later this month, and the central bank's chair kept those expectations alive in remarks on Tuesday.

Despite the government shutdown depriving the central bank of its most crucial economic data, Fed Chair Jerome Powell said the inflation and unemployment situation seemed similar to that in September, when the Fed cut its benchmark interest rate and appeared to be on track to cut it several more times this year. Powell spoke at the National Association for Business Economics conference in Philadelphia.

"Based on the data that we do have, it is fair to say that the outlook for employment and inflation does not appear to have changed much since our September meeting four weeks ago," Powell said.

Powell's remarks shed some light on how Fed officials are dealing with the data "blackout" caused by the government shutdown that began Oct. 1.

The shutdown has closed the government's statistical agencies that produce the data the Fed relies on to make decisions when setting the federal funds rate, which influences borrowing costs on all kinds of loans. For example, the Fed may not see the Bureau of Labor Statistics' job creation report for September, which was due Oct. 3.

A notable exception to the data blackout is the September Consumer Price Index report, which is set to be published Oct. 24.

The Federal Reserve seems likely to continue cutting interest rates in the coming months, which could lower borrowing costs on things like credit cards and car loans, but also push down returns on CDs and high-yield savings accounts.

In the meantime, Powell and other officials are relying on data from private companies, surveys from the Fed itself, and other information in the absence of the "gold standard" reports on the economy from the BLS, which are based on massive and comprehensive surveys of households and businesses.

Currently, Fed officials are grappling with whether to cut interest rates to boost the economy and support the deteriorating job market, or keep them higher for longer to push inflation down to the Fed's goal of a 2% annual rate. President Donald Trump's tariff strategy has pushed up inflation while slowing the job market, creating a dilemma for Fed officials. The Fed's dual mandate from Congress calls for it to keep inflation low and employment high.

Some analysts interpreted Powell's comments as "dovish" or leaning towards more rate cuts in the future.

"Powell isn’t waiting to get in the holiday spirits. Christmas might come early from the Fed," David Russell, global head of market strategy at TradeStation, wrote in a commentary.

Powell highlighted the worsening job market while downplaying the possibility of high inflation, although he did not dismiss the risk entirely.

"There really isn't a risk-free path," Powell said in a Q&A after his speech. "Those two states of affairs for our two goal variables call for different monetary policy responses. As they come more into balance, I think the idea has been that policy should move from being tight to some degree, to being more neutral as those two things balance out. But it is clear, though, that if we move too quickly, we may leave the inflation job unfinished and have to come back later and finish it. If we move too slowly, there may be unnecessary losses, painful losses, in the employment market. So we're in the difficult situation of balancing those two things. "

Financial markets on Tuesday were pricing in about a 97% chance the Fed would cut interest rates at the next meeting of its policy committee Oct. 29 and 30, according to the CME Group's FedWatch tool, which forecasts rate movements based on fed funds futures trading data.

• Domino's posted quarterly earnings that topped analysts' estimates, thanks in part to promotions and demand for its stuffed-crust pizza.
• Domino's also announced a rebranding last week, including a new jingle by Grammy-nominated singer Shaboozey.

There's a cheesy reason for Domino’s Pizza's better-than-expected earnings.

The pizza delivery giant said the popularity of its stuffed-crust pizza and promotions helped drive its strong quarterly results.

Domino's (DPZ) reported earnings per share of $4.08 for the third quarter on revenue that rose 6.2% year-over-year to $1.15 billion. Both figures were ahead of analysts' estimates compiled by Visible Alpha, with CEO Russell Weiner attributing growth in both the company’s delivery and carryout businesses in part to its "stuffed crust pizza product innovation."

Strong sales at popular fast-food chains like Domino's could be taken as a positive sign for consumer spending and the broader economy.

Shares of Domino's climbed close to 4% in recent trading following the news, which also comes about a week after Domino’s announced a brand refresh to target younger audiences, featuring changes in its look and a jingle by Grammy-nominated singer Shaboozey.

With Tuesday's gains, shares of Domino’s are back in positive territory for the year.

• The major U.S. equities indexes rebounded Tuesday afternoon from earlier losses amid lingering worries about U.S.-China trade tensions.
• Intel shares slumped after a downgrade by Bank of America analysts.
• Walmart shares rose after the retailer announced a partnership with ChatGPT maker OpenAI.

The major U.S. equities indexes rebounded Tuesday afternoon from earlier losses amid lingering worries about U.S.-China trade tensions. The Dow and S&P 500 were slightly higher, while the tech-heavy Nasdaq was little changed.

Intel (INTC) shares dropped to lead losses on the S&P 500 and Nasdaq after a downgrade by Bank of America analysts to "underperform" from "neutral," saying the stock has climbed "too far, too fast" on optimism about recent AI deals.

Arista Networks (ANET) shares also fell after Nvidia (NVDA) announced Meta Platforms (META) and Oracle (ORCL) will use its data center switches, increasing competition with those from Arista.

Shares of Coinbase Global (COIN) and other firms tied to cryptocurrencies sank along with the prices of digital coins.

Domino’s Pizza (DPZ) shares gained after the pizza delivery giant posted earnings and revenue that topped analysts' estimates as promotions and demand for its stuffed crust pizza boosted sales.

Shares of Wells Fargo (WFC) also climbed after the financial firm exceeded profit forecasts and boosted its profitability guidance as federal regulators lifted a cap on the bank's growth as punishment for a fake account scandal.

Walmart (WMT) shares rose after the biggest brick-and-mortar retailer said it is partnering with OpenAI to allow customers to buy goods from Walmart through ChatGPT.

Gold prices climbed to notch a fresh high above $4,100 an ounce. Crude oil futures slid. The yield on the 10-year Treasury note was slightly lower. The U.S. dollar gained on the pound, but lost ground to the euro and yen. 

• The price of bitcoin briefly sank below $110,000 on Oct. 10 amid what traders are calling the largest single-day liquidation event in crypto history.
• Lesser known coins' prices fell 80% over the weekend, and crypto-linked stocks are swooning so far Tuesday.

U.S.-China trade tensions triggered a sell-off in bitcoin and altcoins on Friday. Now the industry is calling it the largest single-day purge in crypto history.

More than $19 billion in leveraged crypto bets were liquidated over a 24-hour period that ended Saturday evening, affecting some 1.6 million traders, according to research platform Coinglass, which called its estimate conservative and the real total "likely much higher."

Bitcoin, which had been grinding higher on the so-called debasement trade, diverged from gold as Beijing placed new restrictions on rare-earth minerals exports and subsequently pushed President Donald Trump to threaten a 100% tariff on China. As the market digested the renewed trade spat, bitcoin stopped holding hands with gold and followed risk assets, like stocks, lower, pulling back from a recent record.

"The concerns over an increase in tariffs were undeniably the catalyst," Sean Farrell, Fundstrat's head of digital assets, said of the sell-off in a Monday report.

Investors seeking shelter from geopolitical tension and waning dominance of the U.S. dollar have been bidding up gold and bitcoin prices. The latest phase of the U.S.-China trade war appears to have momentarily severed the link between the two assets, making the world's largest cryptocurrency behave more like other risk assets, such as stocks.

The crypto market's operational quirks fanned the flames. When traders rushed the exits at a time when there was less liquidity, the added selling pressure ripped through coin prices. (Though crypto markets do not close, trading volumes tend to wax and wane alongside U.S. stock market hours.). Bitcoin (BTCUSD) fell below $110,000, while altcoins including ethereum (ETHUSD) and solana (SOLUSD) notched double-digit declines. Some lesser-known coins lost four-fifths of their value.

The chaos led to price dislocation in some coins across trading venues. For example, the price of solana was at one time roughly $20 lower on international exchange Binance than on Coinbase, according to Farrell. Coinglass data show that liquidations on Hyperliquid, Bybit, and Binance accounted for most of the $19 billion purge that transpired between Oct. 10 and Oct. 11.

Some prices are starting to creep back up. Bitcoin was recently back above $112,000, for example. But crypto-linked stocks including Strategy (MSTR), Coinbase (COIN), Circle (CRCL), and Robinhood (HOOD) were all lower in recent trading.

BlackRock (BLK) chief Larry Fink defended bitcoin's role in investor portfolios in an interview with CBS on Sunday. "There is a role for crypto in the same way there is a role for gold," he said.

• The Small Business Optimism Index declined to 98.8 in September as uncertainty surged due to shifting U.S. government policies.
• The uncertainty index reached its fourth-highest level in the survey’s history, as business owners expressed concerns about supply chains, inflation, and inventory levels. 
• More business owners said they plan to raise prices, while small business hiring plans were at their highest levels since January.

Small business owner optimism in September sank to its lowest level in three months as concerns mount about the direction of the U.S. economy.

The Small Business Optimism Index declined to 98.8, its lowest level since June, as owners expressed fears about future sales levels, inflation, supply chain disruptions and inventory levels, according to the monthly survey by the National Federation of Independent Business.

Business owners were concerned enough about the economy to push the survey’s uncertainty index up seven points to hit 100, the fourth highest reading ever in the survey’s 51-year history. 

Small businesses represent a significant portion of the U.S. economy, meaning that owner observations and sentiment can have a substantial impact on the economy's trajectory.

Business owners are hoping for clarity on tariffs and other economic policies from the Trump administration. The September survey revealed that only 23% of business owners anticipate improved business conditions in the future, a 11 percentage point decline from August. 

“While most owners evaluate their own business as currently healthy, they are having to manage rising inflationary pressures, slower sales expectations, and ongoing labor market challenges,” NFIB Chief Economist Bill Dunkelberg wrote in the report. “Although uncertainty is high, small business owners remain resilient as they seek to better understand how policy changes will impact their operations.”

Supply chain disruptions were a problem for 64% of small businesses, an increase of 10 percentage points from August levels. Along those same lines, 7% of business owners reported that inventory levels were too low, reflecting the largest monthly drop in the survey’s history. 

Nearly a quarter of small businesses reported raising prices in September, a three percentage point increase, while 31% indicated plans to raise prices in the next three months. 

Still, the report showed that business owners had some optimism about future conditions. Hiring plans were at their highest levels since January, while the number of business owners reporting profits versus those reporting losses was at the highest point since 2021.

The report doesn’t reflect business owner concerns about the federal government shutdown, which began on Oct. 1, after the conclusion of the September survey.

• General Motors said it expects to take a $1.6 billion charge in the third quarter as it shakes up its electric vehicle operation because of falling demand.
• The "Big Three" automaker said it sees declining EV sales with the expiration of U.S. tax incentives.

General Motors' electric vehicle plans aren't playing out as it had hoped.

The "Big Three" automaker warned Tuesday that it now expects to take a $1.6 billion charge in the third quarter as the company shakes up operations because of falling demand for EVs.

GM (GM) wrote in a regulatory filing that the charge is based on a “strategic realignment of our EV capacity and manufacturing footprint to consumer demand,” along with the cancellation of contracts and other EV investments.

The company also warned it could have “additional future material cash and non-cash charges that may adversely affect our results of operations and cash flows in the period in which they are recognized.” The carmaker is scheduled to report earnings next week.

GM's warning could be taken as an adverse signal for electric vehicle makers in the U.S. broadly, as the same headwinds that affect GM could weigh on other automakers.

GM said the Trump administration's elimination of EV tax credits and changes in emissions standards would depress sales, though a pull-forward in demand as buyers rushed to take advantage of credits before they expire likely boosted GM's sales in the third quarter, according to Cox Automotive, citing Kelley Blue Book estimates.

Shares of GM were up 2% in recent trading, rebounding from losses earlier in the session. They've added about 7% in 2025 so far, compared to a roughly 13% rise for the S&P 500.

• The major U.S. stock indexes are back to making dramatic moves, with investors dealing with another round of trade-related uncertainty.
• One widely used volatility measure, the VIX, has jumped recently to its highest levels in months. But it's still well off April highs.

Investors are getting a taste of volatility.

We're not back where we were in April—but the increase is notable, with the major U.S. stock indexes moving dramatically Friday and Monday in response to fresh uncertainty regarding the trade relationship with China. (That's continued today, with the S&P 500 falling as much as 1.5% in early trading before rebounding. Read Investopedia's full daily markets coverage here.)

A widely used measure of market volatility is the VIX, sometimes called the market's "fear index," which uses options data to get at traders' estimation of expected volatility in the benchmark S&P 500 over the coming 30 days. Broadly speaking, a reading under 20 is generally taken as a sense of calm; the higher the number, the more fear there is out there.

A new round of trade-related uncertainty has stocks making dramatic moves after a long upward run. By one widely used measure, volatility is at its highest levels in months—but stocks remain in the neighborhood of record highs, and we're nowhere near the levels seen in April.

The VIX rose to near 23 this morning, its highest level since late May. That's notably above levels seen in recent weeks, but well off those above 50 seen in early April, at the height of trade-related uncertainty, which were themselves the highest in more than a decade.

"There continues to be a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation," JPMorgan Chase CEO Jamie Dimon said in a statement Tuesday.

Stocks aren't that far off recent record highs, showing that investors haven't jumped ship even as debates about whether we're in a bubble—and, if so, what to do about it and when—continue daily. Still, there are other measures of concern out there. CNN's Fear & Greed Index, which works together several different data points, is on the brink of shifting into "Extreme Fear" territory; it suggested greed earlier this month.

And some asset prices are sending similarly downbeat signals about investor mood. The price of gold, typically purchased as a hedge against a range of sources of uncertainty, is around record highs—sending some Americans to jewelry shops to cash in. In the S&P 500 today, more aggressive sectors like tech and discretionary stocks were falling while consumer staples were rising.

"Friday’s escalating trade tensions between the U.S. and China quickly renewed demand for downside risk protection," LPL Financial Chief Technical Strategist Adam Turnquist wrote in email's comments Tuesday.

• JPMorgan Chase CEO Jamie Dimon says the economy has been holding up well, but faces a "heightened degree of uncertainty" with geopolitical tensions, shifting trade policies and the potential for inflation.
• His company posted its latest quarterly financial results today, one of several leading financial firms on this week's earnings calendar.

The U.S. economy is facing "a heightened degree of uncertainty," JPMorgan CEO Jamie Dimon said Tuesday.

The economy has been fairly "resilient," despite some indications of softening, such as limited job growth, Dimon said. The path forward, he said, is less certain, given several "complex factors."

"There continues to be a heightened degree of uncertainty stemming from complex geopolitical conditions, tariffs and trade uncertainty, elevated asset prices and the risk of sticky inflation," Dimon said in a statement.

JPMorgan Chase (JPM) was one of the first major banks to analyze the economy after a tariff announcement sent shockwaves through the stock market last week. Wells Fargo (WFC) CEO Charlie Scharf also characterized the economy as resilient, saying “the financial health of our clients and customers remains strong.”

Dimon weighed in while releasing the bank's third-quarter results. A number of other financial institutions and credit card issuers are also reporting this week, including Wells Fargo, Citigroup (C), Goldman Sachs (GS), Bank of America (BAC), U.S. Bank (USB), Synchrony Financial (SYF) and American Express (AXP).

Banks and lenders' quarterly earnings and investor conferences are closely monitored because these companies may spot trends before they show up in official data. Investors will be especially eager to hear what the financial sector has to say now, given how much uncertainty there is about economic and trade policies.

Citigroup CEO Jane Fraser said the U.S. is a “pace setter” in the global economy thanks to AI investment and consumer spending. Still, she acknowledged that affluent Americans are behind much of that growth, given that “consumers are being very discerning.”

By several metrics, banks and lenders appear healthy, analysts say. Affluent Americans are spending; businesses are pouring money into AI and data centers; and consumers and corporations are repaying debt.

Trade policy, however, remains in flux. Tensions between the U.S. and China, the two largest global economies, ratcheted up late last week, sending the Nasdaq down 3.6% and the S&P 500 down 2.7% Friday. The indexes regained some lost ground Monday when President Donald Trump walked back a threat to hike tariffs on Chinese imports. But by Tuesday, diplomatic strain was again weighing on the stock market. (Read Investopedia's full daily markets coverage here.)

The economy faces other risks. Tariffs could lead to a spike in inflation. A prolonged government shutdown may curtail spending by the public sector and its workforce. The job market is frozen, and openings may go unfilled due in part to restrictive immigration polices.

This article has been updated since it was first published to add the statement from Citi's Fraser.

• Broadcom shares lost ground in early trading Tuesday, giving back a portion of the big gains posted yesterday following news that the chip giant had forged a deal with ChatGPT maker OpenAI.
• Buying in the stock accelerated yesterday on the highest trading volume in over a month, a move that coincided with the relative strength index reclaiming the 50 threshold to signal a return of bullish price momentum.
• Investors should watch key overhead areas on Broadcom's chart around $374 and $415, while also monitoring important support levels near $324 and $291.

Broadcom (AVGO) shares dropped Tuesday morning, giving back a portion of the big gains posted yesterday following news that the chip giant had forged a deal with ChatGPT maker OpenAI.

The company said it would collaborate with OpenAI on the development of artificial intelligence accelerator and network systems for delivery from 2026 to 2029. The announcement comes just a week after rival Advanced Micro Devices (AMD) inked a deal with the San Francisco-based AI start-up.

Broadcom shares were down nearly 4% at around $343 in recent trading, tracking a broader move lower for U.S. equities, after surging 10% on Monday. Investors have bid up the stock, which has risen about 50% since the start of the year, amid surging demand for custom AI chips as enterprises build out their AI capacity.

Below, we take a closer look at Broadcom’s chart and use technical analysis to identify key price levels worth watching out for.

After hitting their all-time high last month, Broadcom shares retraced toward the 50-day moving average (MA) before attracting buying interest near the respected indicator.

Buying in the stock accelerated yesterday on the highest trading volume in over a month, a move that also coincided with the relative strength index (RSI) reclaiming the 50 threshold to signal a return of bullish price momentum.

Let’s point out two key overhead areas to watch on Broadcom’s chart and also identify important support levels worth monitoring during profit-taking episodes.

Buying from current levels could initially see a move up to around $374. Tactical traders who have bought the recent pullback may look to lock in profits in this location near the stock’s record high, especially if the RSI simultaneously moves into overbought territory.

If the shares enter price discovery mode, investors can forecast a possible overhead target to watch by using bars pattern analysis, a technique that analyzes prior price action to project future directional movements.

When applying the analysis to Broadcom’s chart, we take the uptrend from late August to early September and reposition it from last month’s low. This forecasts a bullish target of around $415, implying 16% upside from Monday’s closing price. We selected this prior move as it followed an earlier dip to the 50-day-MA in August, providing clues as to how a new trend higher from the indicator may take shape if price action rhymes.

The first support level worth monitoring sits around $324. This area on the chart could attract buying interest near the September and October lows, which currently closely align with the rising 50-day MA.

Finally, selling below this important level could spark a more significant drop to the $291 level. Investors could look to accumulate Broadcom shares in this region near a trendline that connects a range of corresponding trading activity on the chart between July and September.

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As of the date this article was written, the author does not own any of the above securities.