Amit Kukreja
TESLA DELIVERY NUMBERS, NVIDIA ALL TIME HIGHS, GALAXY DIGITAL CEO JOINS THE SHOW | MARKET OPEN
10/2/2025, 3:33:22 PM
Economic Summary
- The government shutdown is disrupting BLS data collection: initial claims, nonfarm payrolls, and possibly the October 15 CPI may be delayed, complicating the Fed's data set ahead of the October 29 FOMC decision and raising short-term market uncertainty.
- Market participants are pricing in rate cuts (October 29 and likely December) — ADP private payrolls and weakening labor-market signals make cuts likely, which fuels risk-on positioning and supports equities and crypto.
- Equity market internals are strong: the S&P set new all-time highs, Q3 saw 23 record highs, and ETF inflows (including leverage ETFs) are large, indicating significant retail and institutional risk appetite that historically correlates with further upside ~63% of the time over 12 months after quarters with 20+ highs.
- AI/data-center capex is accelerating via hyperscaler deals (Microsoft's expanded NeoCloud/GPU access) and NeoClouds buying land and capacity, increasing demand for GPUs and related real estate/energy solutions, but power infrastructure remains a bottleneck.
Bullish
- NVIDIA-led AI/data-center momentum driving index leadership and investor flows.
- Tesla delivered a record 497,000 vehicles and strong energy deployment, pushing stock momentum higher.
- Large ETF inflows and high AUM in leveraged equity ETFs support continued risk-on market behavior.
- Hyperscaler deals (e.g., Microsoft expanding NeoCloud GPU access) boost demand for data-center capacity and GPUs.
Bearish
- Government shutdown is delaying BLS data (initial claims, nonfarm payrolls) and could delay CPI, creating macro uncertainty.
- Market shows late-1990s bubble-like behavior with heavy leverage ETF inflows and lofty multiples, risking a sharp correction.
- Power and grid bottlenecks could slow data center and AI build-outs, raising capex timelines and execution risk.
- Political risk around a dovish Fed appointment could debase the dollar and spur inflationary pressures long term.
Bullish tickers
NVDATSLAAMDPLTRHOODCOINGRAB
Bearish tickers
TSLANVDABRK.B
NVDA
2 price targets
189.8203
Bullish
Market leader in data-center AI; hyperscaler demand and NeoCloud partnerships are driving strong GPU consumption.
Bearish
High concentration in indexes and large run-up create valuation risk if AI momentum cools or macro data surprises.
TSLA
5 price targets
467475480500600
Bullish
Record Q3 deliveries (497,000) and 12.5 GWh energy deployment support further upside and buy-side upgrades.
Bearish
Highly volatile and partly priced for perfection; pullbacks possible after a large run despite strong deliveries.
AMD
2 price targets
169157
Bullish
Rising alongside AI/data-center momentum; strong weekly gains reflect renewed investor optimism.
Bearish
Fast recent run could leave AMD exposed if semiconductor cycle or AI spend slows.
PLTR
Bullish
Tends to rally with AI/data-center headlines and sentiment tied to the broader AI trade.
Bearish
Execution and revenue realization risks remain for government/enterprise AI contracts.
HOOD
4 price targets
143150125130
Bullish
Momentum and product rollouts (e.g., tokenization, increased crypto interest) could drive upside and earnings beats.
Bearish
Post-earnings volatility could send shares lower if growth normalizes and sentiment cools.
GOOGL
Bullish
General tech strength and AI interest lift major cap names, including Google.
SOFI
Bullish
Product expansion (level one options) and recovery in financials lift sentiment into upcoming earnings.
BRK.B
1 price targets
496
Bullish
Acquisition of Occidental subsidiary aligns with Berkshire’s cash-flow oriented strategy and could add steady earnings.
Bearish
Limited tech exposure in a tech-led rally can underperform; pre-market weakness noted.
OXY
Bullish
Occidental-related M&A activity (chemical unit sale) reflects corporate restructuring dynamics.
GRAB
2 price targets
580601
Bullish
Expanding Grab Maps and productization in new markets seen as very bullish; insider bought more shares.
Bearish
Emerging-market macro and execution risks could create variability in growth.
MSTR
1 price targets
350
Bullish
Bitcoin strength lifts MicroStrategy and derivatives-focused equities.
Bearish
Concentrated BTC exposure creates high correlation and volatility with crypto price swings.
COIN
Bullish
Crypto rally (BTC/ETH) supports Coinbase trading volumes and valuation momentum.
People mentioned
Elon MuskJerome PowellTom LeeMike NovogratzMichael SaylorPhil LeBeauScott BasinDan NilesSatya NadellaSam AltmanAnthony ScaramucciMichael DouglasCharlie Sheen