Happy Tuesday! The market’s biggest stars are stealing the spotlight once again, but not without controversy. A new study reveals 91% of fund managers believe stocks are overpriced, but they keep adding to their positions anyway. Here’s why.

Also, the auto industry is hitting major speed bumps, with losses topping $11 billion. However, not everyone is stalling. Discover which under-the-radar automakers are shifting into high gear.

Plus, if you’re looking for a timely strategy to turn September’s typical seasonal pullback into potential gains, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

This Fund Manager Survey Just Hit A Record + The Most Crowded Trade On Wall Street

Wall Street can’t get enough of the “Magnificent 7.”

The mega-cap tech giants have reclaimed their throne as the market’s most crowded trade, even as Wall Street sounds the alarm on valuations.

According to Bank of America’s latest fund manager survey, an overwhelming 91% now believe U.S. equities are overvalued — the highest level in the survey’s history. And yet, many of them continue to add to their positions. Here’s why.

Beat The September Slump: 3 Stocks We’re Targeting For Big Gains

Every year, September earns its reputation as the toughest month for the market.

That’s exactly why we’re getting ready to strike.

LikeFolio’s 2025 September Slump Watchlist pinpoints three high-quality stocks riding powerful long-term trends that could deliver outsized gains once the seasonal pullback passes.

Last year’s watchlist produced double-digit rallies across the board.

This year’s picks could be even bigger -- check out:

• Why seasonality sets up rare buying windows

• The consumer demand data Wall Street misses

• The 3 stocks we’re primed to buy on dips in August & September

→ CLICK HERE to see the 3 stocks on our 2025 September Slump Watchlist

Yesterday: Last week’s big rally fizzled out as U.S. indexes ended sharply lower Monday as markets await key inflation data this week, with headline (2.8%) and core (3.0%) inflation expected to continue rising. Treasury yields dropped slightly, with the 10-year yield falling to 4.28%. Oil prices held relatively steady ahead of U.S.-Russia talks later this week, where President Trump and President Putin are expected to meet in Alaska to negotiate an end to the war in Ukraine. Meanwhile, the White House extended China’s tariff deadline by 90 days as the two biggest economies continue to work out an agreement. Also, the earnings season is winding down with 82% of S&P 500 companies beating estimates, with an average earnings surprise of 8.5%.

On Our Radar: In addition to the CPI reports, analysts will be watching several speeches from Fed presidents, as well as the U.S. federal budget that will be released later today. On the earnings front, all eyes will be on CoreWeave (CRWV), CAVA (CAVA) and H&R Block (HRB), which will report results after market close today.

On a big market down day, shares of TKO, Intel and Micron were some of the biggest outperformers and bright spots on Monday. But those weren’t the only companies making big moves…

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

One Day. One Room. Infinite Possibilities.

This isn’t just another fintech conference — it’s the fintech conference. On November 10, in NYC, Benzinga Fintech Day & Awards gathers VCs, startups, C-suites and product leaders to explore where innovation meets investment. Expect dynamic panels, curated networking and the most relevant discussions around retail user growth, digital assets, prediction markets and more. If you’re building, funding or scaling fintech, this is where you belong.

Secure your pass now and be where the future of finance is decided.

On This Day In 1981…

IBM’s personal computer, known as the IBM 5150, made its debut, marking a major milestone in tech history. Powered by an Intel 8088 processor and running Microsoft’s MS-DOS operating system, the IBM 5150 helped bring computing into homes and small businesses. Its launch ignited the personal computer revolution and set the foundation for decades of innovation in the tech industry.

QUOTE OF THE DAY

“Our favorite holding period is forever.“ — Warren Buffett

Don’t Hit The Brakes: These 3 Auto Stocks Are Shifting Into High Gear

The auto industry is hitting some serious potholes with major manufacturers already racking up over $11 billion in losses this year due to tariffs.

While some big names are stalling out, a few lesser-known players are shifting into high gear. These automakers aren’t just riding out the storm; they’re tuning up their strategies, navigating the detours and positioning themselves for the fast lane.

They may not be in the spotlight yet, but if they stay on course, they could leave the industry's heavyweights in the dust. Read on to see which companies are revving up, while others are stuck in park.

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