Happy Wednesday! All eyes are on Taiwan Semiconductor as it prepares to kick off the earnings season for the chip industry. As the backbone of global chip supply and a key player in the AI boom, TSMC’s earnings could reveal what’s next for the entire tech sector. Don’t miss the signals investors will be watching.

Also, while Wall Street chases AI and tech, Warren Buffett has been placing bets in a different corner of the market — and it’s already yielding impressive returns. Read on to see which stocks are powering Buffett’s latest winning strategy, and why they could be key for your portfolio.

Plus, if you’re looking to minimize taxes on your portfolio, check out today’s sponsor and see what advisors are monitoring.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

Taiwan Semiconductor Q3 Earnings Preview: Results Could Shake Chip Market — Here's What Wall Street Is Watching

Taiwan Semiconductor looks to kick things off for the semiconductor industry as it gears up to report Q3 earnings on Thursday. With shares hovering near 52-week highs, expectations are sky-high for the $1.5 trillion dollar company, which has beaten estimates for seven straight quarters.

Backed by strong demand from AI and major players like Apple and Nvidia, TSM is one of the most watched companies in the world. Read on for the full earnings preview, as well as what investors will be watching as they look for insights and what it means for the rest of the industry. This is one report you won’t want to miss.

5 Tax Moves Not To Overlook Before Year-End

From missed deductions to overlooked planning windows, common oversights can create unwelcome tax surprises. Thoughtful planning may help improve after-tax efficiency over time.

If you have $1M+ invested, reviewing the tax side before year-end can be an important step before capital-gain surprises add up.

See what many advisors are monitoring as 2025 winds down.

Yesterday: U.S. indexes closed mostly lower Tuesday after a volatile session, with the S&P 500 and Nasdaq falling, while the Dow bucked the trend to finish in positive territory. The moves came as escalating U.S.-China trade tensions weighed on investor sentiment. President Trump threatened a cooking oil embargo against China in response to continued trade disputes, marking the latest in a series of tit-for-tat measures. The potential for new 100% tariffs on Chinese goods added to market uncertainty. Meanwhile, the ongoing U.S. government shutdown entered its second week with no resolution in sight. The U.S. dollar weakened and oil prices fell toward five-month lows as the IEA raised its global supply forecast and lowered demand expectations.

On Our Radar: With the government shutdown still ongoing, a number of economic data points are still being delayed and won’t be released. The only notable events today are Fed speeches (Bostic, Miran and Waller), as well as the Fed Beige Book. On the earnings front, all eyes will be on United Airlines (UAL), which reports after the market close today, with Taiwan Semiconductor (TSM) reporting before the market opens tomorrow.

Bank earnings were in the spotlight Tuesday with a number of key companies reporting. While shares of Wells Fargo (WFC) and Citigroup (C) soared, JPMorgan (JPM) and Goldman Sachs (GS) tumbled. 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.

Matt Meeker, CEO Of Bark ($BARK), Joins Marketopolis To Discuss The Reality Of Turning Around A Struggling Public Company

At the start of 2023, Bark had $400 million in cash, which fell to $200 million by year end (roughly a 12 month runway). Today, the story has changed and Bark is now EBITDA positive and generating cash flow.

On This Day In 1907…

The Heinze brothers (Augustus and Otto) tried to corner the market on the United Copper Company. The brothers believed there was a large number of short sellers vulnerable to a squeeze, so they began aggressively buying shares to drive up the price and force the shorts to cover at a loss. However, the strategy backfired when more shares became available than expected, causing United Copper's stock to plummet from over $50 to less than $10 in a matter of days. The collapse not only wiped out the Heinze brothers but also exposed overextended connections between their speculative activities and several banks, including Mercantile National Bank. This sparked a crisis on Wall Street and ultimately led to the creation of the Federal Reserve six years later.

QUOTE OF THE DAY

“One of the oldest sayings on Wall Street is 'Let your winners run, and cut your losers.' It’s easy to make a mistake and do the opposite, pulling out the flowers and watering the weeds.“

— Peter Lynch

Inside Warren Buffett’s Recent Positions — And How They’re Already Paying Off

Warren Buffett’s Berkshire Hathaway is quietly making moves in an unexpected corner of the market — and it’s already starting to pay off.

After revealing fresh stakes over the past two quarters, many were caught off guard by his homebuilder positions. However, in just a couple of months, those bets have started to take off and are already turning heads on Wall Street.

Known for his long-term vision and holdings, Buffett sees a lot of value in these companies. With the market focused so much on AI and tech, check out Buffett’s under-the-radar plays.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Future Finance: Where fintech, crypto and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis and news. Subscribe here.

Tech Trends: Get the inside scoop on AI, the hottest gadgets and mind-blowing tech trends. Subscribe here.