Shutdown delays, missing data, and looming layoffs fuel panic—only Nvidia keeps flying
Dear Friend,
Well, D.C.’s back at it—playing shutdown chicken while the markets play dead.
The Dow dropped like a freshman econ major in a 9am class, car loans are going bust, and apparently the job market is now a guessing game because the government forgot how to… function.
Meanwhile, Nvidia’s soaring like it’s immune to gravity (and bad fiscal policy), and the Fed’s pretending a rate cut will fix everything from layoffs to late car payments.
Keep reading this edition of the Everlasting Wealth Insider Report to see how deep this mess really goes—and where the smart money is hiding.
Jeremy Blossom
Editor in Chief, Everlasting Wealth
MARKETS
MARKET HEADLINES
📉 Venture Global shares plunged nearly 20% after losing an arbitration case to BP, which is seeking over $1 billion in damages for withheld LNG cargoes.
⚖️ Qualcomm is under investigation by China’s regulator for allegedly violating anti-monopoly laws during its acquisition of Autotalks, dragging its stock down.
🚗 Tesla’s new affordable Model 3 and Y variants received mixed reviews, with investors focused more on AI growth than short-term car sales.
🪙 Bitcoin and Ethereum slipped this week, with UK regulators warning investors about crypto risks and calling Bitcoin “not an asset class.”
🏛️ Markets have mostly ignored the U.S. government shutdown so far, but prolonged delays could hurt consumer sentiment and delay crucial economic data.
💾 Nvidia stock hit record highs, buoyed by its investment in Elon Musk’s xAI and strong AI demand, despite China tightening chip import checks.
🌍 China imposed new export controls on rare earth magnets, signaling economic leverage ahead of a Trump-Xi summit and intensifying U.S.-China trade tensions.
💸 High-yield bonds are performing better and considered safer than before, but experts caution investors to remain selective amid economic uncertainty.
🧲 China’s latest restrictions on rare earth exports boosted U.S. mining stocks like MP Materials, reinforcing the strategic importance of domestic supply chains.
📉 JP Morgan’s Jamie Dimon again warned of potential market risks, though his past gloomy forecasts have often been outpaced by bullish economic realities.
Shutdown Shenanigans Tank Markets — Except for Big Tech Darling Nvidia
Well, color me shocked—another day, another market dip thanks to D.C. playing chicken with a government shutdown.
Stocks took a nosedive Thursday, with the Dow down 243 points. Investors are spooked, and who can blame them when Uncle Sam can’t even keep the lights on?
Apparently, businesses are now feeling the pinch, with delayed payments and even layoffs looming.
But don’t worry, the Fed is here to “help,” with more talk of rate cuts—because nothing says confidence like pumping the brakes on an already wobbly economy.
Meanwhile, important economic data is MIA because, well, the government’s busy twiddling its thumbs.
The only bright spot? Nvidia, of course—riding high after the U.S. approved billions in chip exports to the UAE. That pushed its market cap to a casual $4.7 trillion.
But hey, who needs sound fiscal policy when you’ve got AI stocks and Pepsi profits to distract from the mess?
Anyway, I’ll keep an eye on the clown show in D.C. while Wall Street tries to spin gold out of nothing—again.
STOCKS 2 WATCH
↗️ Applied Digital: Shares soared nearly 25% in premarket action after the data center operator beat quarterly earnings expectations and secured a fresh lease deal with AI cloud player CoreWeave.
↘️ Levi Strauss: Despite surpassing quarterly forecasts and lifting its full-year revenue and adjusted earnings guidance, the iconic denim brand saw its shares drop about 6% before the bell.
↘️ Venture Global: The U.S.-based natural gas exporter took a 15% hit in early trading after losing an unexpected arbitration case against oil giant BP.
↗️ Stellantis: The automaker behind Jeep gained 2% in Milan after reporting a 13% jump in quarterly shipments, largely thanks to a North American sales rebound.
🔎 Nvidia, AMD: U.S. lawmakers passed legislation boosting domestic access to AI chips, prioritizing American firms over Chinese competitors — a notable development for the semiconductor giants
Fact of the Week
Despite being called “U.S.” stocks, roughly 40% of S&P 500 companies’ sales come from outside America, meaning when you buy the index you’re secretly betting on European and Asian shoppers, commodity cycles, and currency swings too, so a strong dollar can shrink reported profits even if the domestic economy is humming.
ECONOMY
No Jobs, No Data, No Clue — But Sure, Everything’s Fine!
Well, with the government still on its taxpayer-funded vacation, the Bureau of Labor Statistics has gone dark, so Wall Street is now pulling double duty trying to guess what’s really happening in the job market.
Spoiler alert: it ain’t pretty.
Bank of America, Goldman Sachs, and even the Carlyle Group are all waving red flags, showing hiring has pretty much hit the brakes and unemployment’s starting to tick up.
The data’s patchy—sure—but when every source says things are slowing down, it’s probably not just a coincidence.
Hiring has cooled more than Biden’s brain cells, and even big names like ADP are saying jobs were lost last month.
Meanwhile, the Fed’s still pretending to be in charge, cutting interest rates again because that always works (insert eye-roll here).
Oh, and the kicker? The only reason unemployment isn’t higher is because we’ve got fewer immigrants to even count.
So basically, we’re winning by default.
But hey, at least the bureaucrats get a paid vacation while the rest of us watch the economy rust from the ground up.
Economic Headlines
🤖 Alibaba, Baidu, and other Chinese tech stocks slid as AI bubble fears grow and China tightens restrictions on U.S. chips and rare earth exports.
📊 Due to the government shutdown, key inflation data may be delayed, but alternative estimates suggest inflation stayed steady in September.
💱 The U.S. finalized a $20 billion currency swap to rescue Argentina’s economy, while delaying aid to American farmers until the government reopens.
🧠 Financial advisors say most investors shouldn’t panic over the shutdown—yet—but urge reassessing budgets, plans, and risk tolerance if it drags on.
💊 GoodRx stock jumped after reports it may partner with the Trump administration’s TrumpRx drug-buying platform launching in 2026.
💵 The IRS raised 2026 tax brackets and deductions to adjust for inflation, with the top tax rate remaining at 37% for high-income earners.
⚠️ Despite market calm, the prolonged shutdown risks deeper economic harm, as political brinkmanship and missed paychecks threaten broader disruptions.
🎯 The U.S. economy is balancing on a tightrope, with trillions in future wealth depending on sustained productivity growth, especially from AI.
🫧 Experts are split on whether AI is in bubble territory, with Goldman and Nvidia defending current valuations while Jamie Dimon warns of a correction.
🛫 Stalled Shutdown Talks and Mounting Travel Delays Signal Rising Public Pressure for a Resolution.
Trivia
Which U.S. stock trade settlement cycle became standard in May 2024?
A. Same day (T+0)
B. One business day (T+1)
C. Two business days (T+2)
D. Three business days (T+3)
E. Five business days (T+5)
Scroll for the answer
BUSINESS
Drive Now, Default Later — Subprime Car Loans Hit the Skids
Well, here’s a shocker: Americans are falling behind on their car payments, and the ones hit hardest are—you guessed it—those with lousy credit and a mountain of debt.
Apparently, when you mix $750-a-month car payments with stagnant wages and rising unemployment, people start missing payments.
Who knew? Subprime delinquencies just hit a record high, with over 6% of those loans 60+ days overdue.
One subprime lender, Tricolor (which mostly served undocumented immigrants—because of course), just hit the bankruptcy wall.
And yet Wall Street keeps buying up these junk loans like it’s 2008 all over again. Great idea, guys.
Car companies, always looking out for us, have been more than happy to jack up prices while pushing luxury trucks and SUVs instead of affordable cars.
Ford’s now offering lower interest rates just to unload F-150s onto folks with bad credit.
Nothing says “solid business plan” like betting on broke buyers.
But hey, no need to panic—Wall Street says it’s not a systemic risk.
Because if there’s one thing they’ve proven, it’s that they always see a crash coming… right?
Answer
Which U.S. stock trade settlement cycle became standard in May 2024?
B. One business day (T+1)
As of late May 2024, U.S. equities and many ETFs moved from T+2 to T+1 settlement.
Shortening the cycle reduces counterparty, liquidity, and operational risks and ties up investor capital for less time.
