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Investors climbed the "wall of worry" toward all-time highs in the S&P 500 (SPX) and Nasdaq-100 (NDX) in a tech-led rally, says Kevin Mahn. He addresses reports that Nvidia (NVDA) and Micron (MU) are expected to lead to one-third of the S&P's earnings growth next year, though he sees opportunities in other corners of Wall Street. "Follow the money" in the AI trade and beyond, says Kevin, as he highlights beneficiaries he sees with significant upside in the coming years. Among the stocks he mentions: Constellation Energy (CEG), American Electric Power (AEP), and Comfort Systems (FIX).

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John T. Shea takes a closer look at the trend changes in Amazon (AMZN) Prime Days. He used to consider the event a "gadget sale" that has since expanded to broad consumer needs. John explains why the Mag 7 giant has evolved its catalog offerings over not just one span of days every year, but several. For October Prime Days in particular, he discusses the importance of holding an event like this as Walmart (WMT) and Target (TGT) expand their deal catalogs.

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Keep an eye on volatility trends and the 10-year Treasury auction Wednesday as yields hover near multi-decade highs, says Kevin Green. Market breadth continues to serve as an anchor weighing down the broader S&P 500 (SPX) as the equal weight index shows lingering weakness. In equities, KG notes a pullback in SpaceX (SPCX) as reports indicate the company is aiming to buy $40 billion worth of Nvidia (NVDA) chips. Sticking with headlines surrounding Elon Musk, Intel (INTC) is reportedly doubling down on comments that it will bolster its Terafab project.

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Netflix (NFLX) shares have seen what Charles Schwab's Patrick Ciummo calls an "aggressive" downspin over the last thirty trading sessions. However, on the one-year chart, oversold indicators suggest room for a bullish rebound.

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Tuesday's top takeaways focus on the international front, as Sam Vadas addresses the latest funding rounds in China's DeepSeek and Moonshot AI, while Marley Kayden talks about the widening trade deficit via the international trade in goods and service sprint.

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There was a clear divide in stocks tied to the AI trade when it came to the best and worst performers on the S&P 500 (SPX). Marley Kayden discusses Constellation Energy (CEG) and its stock surge thanks to a new deal with Alphabet (GOOGL). Marvell (MRVL) rallied on its new ambitious growth plan. Meanwhile, Seagate (STX) and Western Digital (WDC) sold off over competition around a certain acquisition.

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Kevin Rubin, CFO of Zscaler (ZS), joins Market on Close to discuss why the cybersecurity company reaffirmed first-quarter and full-year 2027 guidance during the firm's investor day. As Kevin explains, AI is becoming the biggest tailwind for Zscaler due to customer needs to fend off cyberattacks from AI agents. He talks about ways Zscaler is scaling to assist its growing customer base while protecting its own platform.

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Samuel Kerr says rising sovereign yields with the US ten-year near 5.5% are spooking IPO investors and widening valuation demands. He sees investors keeping powder dry for Anthropic's roughly $100 billion IPO expected this quarter, while SpaceX (SPCX) carries more FOMO as a pure monopoly. Kerr expects Anthropic and OpenAI to return to markets repeatedly for capital given vast CapEx needs, and notes China's IPO market is hot with DeepSeek and Moonshot targeting Hong Kong listings while Europe struggles with wide discounts.

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Paisley Nardini, head of investment strategy at Tema ETFs, calls this a bifurcated market with 70% of S&P constituents trading below their 50-day average even as the index hits all-time highs. She sees the Mag 7's strong earnings justifying their valuations and expects AI demand to keep driving sectors beyond tech, naming Constellation Energy (CEG) and healthcare as beneficiaries. Nardini says fixed income is getting attractive with real yields at decade highs, and bond yields near 6% or an earnings miss could finally pressure equities.

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Injective's Mirza Uddin says the failure of the Clarity Act turned out to be a blessing as the CFTC and SEC stepped in with innovation exemptions, giving builders clearer rules for the next five years. He sees tokenization of stocks, bonds, and real estate as crypto's biggest economic catalyst, with ETFs driving broader adoption among traditional investors. Uddin expects Bitcoin and Ethereum to keep benefiting regardless of midterm outcomes and says Injective is launching its own ETF later this year.

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