So here’s the thing about Wall Street: it’s basically that friend who shows up to your crisis intervention with champagne. While Washington is literally shut down (again), the stock market is out here setting records like it’s trying to get into the Guinness Book.
The S&P 500 just notched its 27th new record since June. Twenty-seven! That’s more records than Taylor Swift released last year. And yesterday? Fifth straight day of gains. The market is basically doing victory laps while Congress can’t even agree on what day it is.
The AI Gold Rush Continues
Meanwhile, over in Asia, some serious AI deals went down. Hitachi and Fujitsu just signed partnerships with OpenAI and Nvidia respectively, and suddenly everyone’s acting like they discovered digital gold. Nvidia stock hit a fresh all-time high just under $189 per share, because apparently when it comes to AI, the market has zero chill.
Here’s what’s wild: the ADP employment report showed jobs actually declined when analysts expected gains. Normal market logic says “bad jobs = market sad.” But 2025 market logic says “bad jobs = Fed cuts rates = party time!” It’s like economic opposite day, but it’s been going on for months.
The Bubble Talk is Back
Of course, everyone’s starting to whisper the B-word again. “Bubble.” And honestly? When Bitcoin is sitting pretty at $116K and tech stocks are basically printing money, maybe those whispers aren’t totally crazy.
The thing is, valuations are getting stretched thinner than your patience during a Zoom meeting that could’ve been an email. Companies are throwing hundreds of billions at AI like they’re buying lottery tickets, and at some point, someone’s going to ask “So… where’s the actual profit?”
Tesla’s Reality Check
Speaking of reality checks, Tesla had a moment yesterday. They reported record Q3 deliveries – like, genuinely impressive numbers that beat expectations. The market’s response? A 5% nosedive. Why? Because everyone knows those sales got a boost from EV tax credits expiring September 30th. It’s like getting great Black Friday sales numbers and then remembering Christmas only happens once a year.
The Bottom Line
Look, riding this AI wave has been profitable, no doubt. But when the market is this disconnected from reality – celebrating government shutdowns and ignoring employment declines – it might be time to think about protecting your downside.
The party’s still going, but smart money is keeping one eye on the exit. Because when this AI spending spree eventually demands actual returns, the hangover is going to be legendary.
Stay sharp out there. The market might be partying like it’s 1999, but we all remember how that ended.