Happy Wednesday! Nvidia is in the spotlight today with its Q3 earnings report set to be released after the market close. Can the company beat Wall Street estimates for the 12th consecutive time? Read on to see what analysts are predicting, watching and the global impact it will have.

Also, investors are all in on the market, with cash levels at a two-decade low. But what happens if the Fed doesn’t deliver the rate cuts the market is counting on? Today, we explore the positioning, the potential risks and the market signals that could shake things up in the months ahead.

Plus, if you’re looking for a dynamic growth company in telecom and AI cybersecurity, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

Nvidia Q3 Preview: Can Jensen Huang Deliver 12th Straight Double Beat? Here’s What Analysts Predict, And The Global Impact It Will Have

Q3 Earnings Preview: Nvidia has exceeded expectations for 11 straight quarters, and looks to do so again today. With high expectations, here’s a look at what analysts are predicting and what they’ll be focused on when the results are released.

The Impact: With so much of AI running through Nvidia, all eyes are on this market-moving moment, as Q3 results will ripple across global markets. Even with growth starting to slow, Nvidia’s central role in Big Tech’s trillion-dollar data-center investments makes this one you can’t afford to ignore.

IQSTEL Expects Double-Digit Increase In Organic Revenue Next Year, Targets $1B In Revenue By 2027

IQSTEL Inc. (IQST) is serious about achieving $1 billion in revenue by 2027. It recently announced it expects to achieve $430 million in organic revenue in 2026, up 26% from 2025. It also plans to make two or three accretive buys next year on its path to achieve $15 million in EBITDA in 2026.

Then there’s its deal with AI cybersecurity company Cycurion Inc. (CYCU), which gets it into the cybersecurity market. The two will sell AI cybersecurity products and solutions to the telecommunications and enterprise markets. Part of the deal includes a $1 million stock swap and a planned $500,000 dividend. Wall Street firm Litchfield Hills likes it, reiterating its buy rating on IQSTEL. To learn more about IQSTEL, click here.

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Yesterday: U.S. indexes continued their decline Tuesday, with the Dow sliding nearly 500 points and the S&P 500 posting a fourth consecutive decline — marking its longest losing streak since August. The pullback was led by weakness in major tech names, with Nvidia, Amazon and Microsoft down around 4% on the day. A newly announced multibillion-dollar AI partnership among Anthropic, Microsoft and Nvidia failed to lift sentiment, with all related stocks remaining sharply lower. Meanwhile, Bitcoin is now negative on the year, down more than 25% since its October peak. Lastly, earnings season continues to be robust with 93% of S&P 500 companies having reported results, with 82% beating expectations, driving Q3 earnings growth forecasts up to 13.1%, from 7.3%.

On Our Radar: The earnings season is starting to wind down; however, the most highly anticipated earnings of the year will be unveiled after the market close today when Nvidia (NVDA) reports Q3 earnings. Palo Alto (PANW) and Copa (CPA) will also report after the bell.

Shares of Merck & Co. (MRK) were one of the biggest winners of the day as well as this month, joining Eli Lilly (LLY) and Amgen (AMGN) among the top performers. The Home Depot (HD), Amazon (AMZN) and Micron (MU) were some of the S&P 500’s biggest losers. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Tuesday.

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.

Greene’s Bargain Buys: Rep. Marjorie Taylor Greene is shaking up her portfolio with two major stock purchases at 52-week lows. Click to see which undervalued stocks she bought and why investors are taking notice.

Big Bets: Ark Invest, led by Cathie Wood, made a number of big trades on Tuesday. Read on to see which ones she’s buying and which ones she’s selling.

Walmart Q3 Preview: Walmart is set to reveal Q3 results, offering a glimpse into consumer spending and the impact of tariffs. Analysts are split on whether the retail giant will continue its streak of earnings beats. Click here to see the bull and bear cases before tomorrow’s market open.

Project Pause: Home Depot lowered its profit outlook as consumers hold off on big home projects amid weak housing turnover and economic uncertainty. See why even strong sales can’t mask the slowdown and what investors should watch next.

Temu Trouble: PDD Holdings, Temu’s parent, shocked investors with its latest quarterly report. Read on to see if the tumble presents a golden opportunity or something you should stay away from.

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On This Day In 2015…

Square (now Block) went public in one of the most closely watched tech IPOs of the decade, pricing its shares at $9, well below the expected range as skepticism grew about unprofitable fintech startups. However, when trading began, sentiment flipped as shares soared as much as 64% before ultimately closing the day up 45%. The IPO not only validated Square’s business model in the public markets, but also set the stage for its evolution from a mobile-payments company into a broader financial ecosystem spanning banking tools, cryptocurrency and small-business services.

QUOTE OF THE DAY

“There are 60,000 economists in the U.S., trying to forecast recessions & interest rates & if they could do it successfully they'd all be millionaires by now. As far as I know, most are still gainfully employed, which ought to tell us something.“

— Charlie Munger

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