Chamath Palihapitiya says AI has made software IP "effectively worthless"

All 22 crew are safe, but another burning tanker in the Gulf keeps the war premium baked into Brent and tanker insurance rates.

JUST IN: UAE says it rescued 22 people from an oil tanker fire in the Gulf, all crew in stable condition

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Real money is pricing a 94% chance the AI trade holds through December, so anyone waiting for a year-end unwind to buy in is betting against the crowd.

6% chance the AI bubble bursts by end of year. https://t.co/B0is9W25Uc

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Ten-year valuation lows on the two bluest chips in luxury means the China demand slump is largely in the price, and that is the entry point value buyers have been waiting on.

Is now the time to be buying luxury? Hermès and LVMH now trade at their lowest valuations in a decade. $RMS $MC https://t.co/zd1ZUBvR7V

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The top derivatives regulator conceding Congress has stalled means crypto market structure rules stay in limbo, leaving exchanges, token issuers and listed crypto names without the jurisdictional clarity they have been pricing in.

BREAKING: CFTC Chairman Selig says "I am absolutely disappointed in Congress" for not passing the crypto bill https://t.co/CSCQ3wPHh1

Cash is winning the allocation fight again, and the last comparable week was the March 2020 crash. That pile is both a yield trade and dry powder sitting out of stocks.

BREAKING: Investors put $166 billion into money market funds in one week, the most since April 2020

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Traders are pricing a 2-in-5 shot that one of the largest buyers of compute halts training within weeks, a tail risk that runs straight through the chip and data center supply chain.

40% chance Anthropic pauses AI training by end of month. https://t.co/KAqCFOBKkg

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Prediction traders have never been this convinced of a hold, which leaves rate-sensitive names like homebuilders, REITs and regional banks priced for no relief this month.

BREAKING: 85% chance Fed "maintains" interest rates this month — an all-time high. https://t.co/WZjhOpTemp

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Ten days into October and the ETF wrappers that carried crypto's institutional bid are handing back nearly $1 billion, a direct read on how fast allocators are stepping away from Bitcoin and Ethereum exposure.

JUST IN: US Bitcoin and Ethereum ETFs see $986 million in combined outflows so far in October

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A spice giant that survived every recession since the 1800s has never fallen this far from a peak, and dividend buyers now have to decide whether the staples derating makes it worth owning here.

McCormick is now in its largest drawdown of all time. -57% from highs. $MKC https://t.co/IeUTo1hlxB

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A guidance cut from one of the biggest snack and beverage sellers in the country says the pressure is on the North American consumer broadly, extending beyond Pepsi, and staples holders should treat it as a read-through across the shelf.

BREAKING: PepsiCo cuts its full-year profit outlook as North America stays weak and costs rise

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Record hedge fund positioning in the Magnificent Seven means the same fast money owns the same seven names, and crowded trades unwind together.

Investors have never been more bullish on Big Tech: Hedge fund total US net exposure to Magnificent 7 stocks is up to 22%, its highest on record. This figure has surged +7 percentage points since July, its largest 3-month increase since 2023. This is now above the 21% peak https://t.co/WS3FBpjATs

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