Your Evening Briefing

October 16, 2025

US stocks suffer as speculative stock selloff and financials weigh on markets

Bitcoin, banks, and speculative pockets of the market beloved by retail traders (from quantum computing to nuclear energy) were bludgeoned on Thursday.

The S&P 500 and Nasdaq 100 closed 0.4% and 0.6% lower, respectively, while the Russell 2000 fell about 2%.

Stocks that moved higher:

Salesforce rose after forecasting strong revenue, with double-digit sales growth expected to return.
Oracle jumped as executives said the company expects 35% gross margins on large AI infrastructure projects and expects to see $166 billion in cloud infrastructure revenue by FY 2030.

Stocks that moved lower:

TSMC rose in premarket trading after the Taiwanese chipmaker posted another record quarterly profit and raised its outlook for the rest of the year, but fell on market open and finished lower.
HP Enterprise sank on disappointing revenue, profit, and free cash flow guidance for fiscal 2026. While HP did announce a 10% increase in the dividend for the fiscal year, the good news couldn’t lift shares out of the red.
American Battery lost power after revealing the US Department of Energy has terminated its $57.7 million grant supporting the construction of a lithium hydroxide facility.

— Luke Kawa, Markets Editor & Toby Bochan, Managing Editor

Pop-Tarts pop into the protein craze taking over America’s snack aisle

In the last couple of years, protein has even overtaken carbs in the diet discourse: Google search interest for “high protein” has surged ahead of that for “low carb,” and America’s favorite toaster pastry wants in. Read more.

United and rival airlines battered as analyst criticizes the industry’s capacity growth

Shares of United Airlines fell as much as 9.3% in Thursday afternoon trading during the company’s third-quarter earnings call. Traders exchanged about 16 million shares by 1:10 p.m. ET, nearly three times the full day average volume over the past 30 days. Potentially spooking investors were comments from Bloomberg Intelligence analyst George Ferguson, who doubted capacity numbers amid “pretty soft” fares.

Read more.

Salesforce said it expects annual revenue to top $60 billion by fiscal 2030, ahead of Wall Street’s $58.37 billion estimate, per CNBC. The forecast excludes any impact from Salesforce’s pending $8 billion acquisition of data management firm Informatica, slated to close by mid-2026.. Read more.

Microsoft said it is moving most of its production out of China
Tech companies are rushing to decouple their supply Chains from China amid geopolitical tensions
Report: Anthropic is catching up to OpenAI, on track for $9 billion annual run rate by the end of 2025
High demand for its enterprise AI tools like Claude Code has led the company to nearly triple its 2026 revenue target.
DoorDash announced a partnership with Google’s Waymo for Phoenix deliveries
The partnership is meant to keep the driverless cars busy when they’re not in use as taxis
Apple suffers another AI setback as it loses key AI search leader to Meta
Ke Yang took charge of Apple’s AI search features planned for a revamped Siri only a few weeks ago, adding to the exodus of AI talent
Report: Hollywood talent agencies were blindsided by OpenAI’s Sora and its hazy opt-out scheme
Some talent agencies reportedly said OpenAI execs were “purposely misleading” in meetings about how Sora would protect rights holders
Thursday Night Football: Traders on Robinhood’s* prediction markets are pricing a Pittsburgh win trading around $0.70 to win with Cincy trading for $0.32

*Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.

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