Gold tops $4,000, SoftBank buys robotics unit: Morning Buzz

The major averages were broadly higher near noon, reversing some of yesterday’s declines as the U.S. government shutdown enters day eight. The key driver of the session may be the release of the September Fed minutes, which traders expect will shed light on how aggressive the Fed might be in cutting rates going forward.

Gold is stealing headlines as it has surged past $4,000 per ounce for the first time ever, fueled by safe-haven demand in the midst of policy uncertainty, geopolitical risks, and a weakening dollar. That kind of move suggests that many market participants are not completely convinced that a soft landing is assured. Meanwhile, oil prices are also surging amid an increase in crude inventories, according to API.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.

1. STOCK NEWS:

• Reuters reported that Intel (INTC) will release details about its Panther Lake chip on Thursday, while Semafor reported that Microsoft (MSFT) CEO Satya Nadella and Nvidia (NVDA) CEO Jensen Huang reached out to President Trump to vouch for Intel CEO Lip-Bu Tan in August
• Meanwhile, Nvidia’s Huang(AMD) offered 10% of itself to OpenAI
• Gold prices are continuing their recent sharp climb, surging past the $4,000 threshold
• SoftBank (SFTBY) agreed to acquire ABB’s (ABBNY) robotics business for $5.38B
• Confluent (CFLT) exploring sale after receiving acquisition interest, Reuters reports

2. WALL STREET CALLS:

• HSBC downgraded Intel (INTC) to Reduce on “overdone” share rally
• Deutsche Bank upgraded Northrop Grumman (NOC) to Buy ahead of Q3 report
• FedEx (FDX) downgraded at JPMorgan, here’s why
• Constellation Energy (CEG) upgraded to Buy at Seaport Research
• Oppenheimer downgraded Edwards Lifesciences (EW) on long-range plan concerns

3. AROUND THE WEB:

• Kerrisdale Capital announced a short position in Bitmine Immersion (BMNR), saying the company is “chasing a model that is on its way to extinction”
• AT&T (T) has bought a 15% stake in Israeli startup DriveNets from existing investors, Globes says
• Tesla (TSLA) abandoned CEO Elon Musk’s goal to make thousands of Optimus robots in 2025 due to significant technical challenges, Information says
• New Jersey Attorney General investigating frequency of sexual violence during Uber (UBER) rides and whether Uber has misrepresented safety of its service, NY Times reports
• Amazon (AMZN) plans to invest EUR 1B in Belgium between 2025 to 2027, Reuters reports

4. MOVERS:

• Critical Metals (CRML) gains in New York after signing a Letter of Intent for an offtake agreement with REalloys
• Confluent (CFLT) jumps after Reuters reported company exploring a sale
• Penguin Solutions (PENG) declines after reporting Q4 results and providing guidance for FY26
• Esperion (ESPR) lower after announcing a 30M share offering
• Nano Nuclear Energy (NNE) falls after announcing a $400M private placement of stock

5. EARNINGS/GUIDANCE:

• Triple Flag (TFPM) reported Q3 results, with CEO Sheldon Vanderkooy commenting, “Triple Flag delivered another strong quarter of performance anchored by Northparkes”
• Sealsq (LAES) reaffirmed guidance for FY25
• InterCure (INCR) reported results for 1H
• Marex Group (MRX) provided guidance for Q3
• Penguin Solutions (PENG) reported Q4 results and provided guidance for FY26

INDEXES:

Near midday, the Dow was up 0.44%, or 206.38, to 46,809.36, the Nasdaq was up 0.81%, or 185.54, to 22,973.91, and the S&P 500 was up 0.57%, or 38.10, to 6,752.69.