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1. Earnings Guidance Spread Chart

As shown below, our guidance spread chart, which shows the percentage of companies raising minus lowering guidance on a rolling three-month basis, has spiked to a level we’ve only seen once before, which was the period coming out of the COVID Crash in 2020. These big spikes in guidance have historically happened in the early part of periods following max uncertainty.

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2. Crypto Lending Hit $74B in Q3

Crypto lending. The recent drop in crypto prices was preceded by a record-breaking $73.6 billion in crypto lending in Q3.

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3. Kalshi Now Sports Betting App…$800m a Week

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4. AI Borrowing Getting Boost from Private Lending…Blue Owl Chart Pulls Back to Liberation Day Lows

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5. I Agree…Good Chart to Watch

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6. XLK Tech ETF Has Been Above 50-Day Since Liberation Day Lows…Pulled Back and Held Multiple Times

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7. META Hard Close Below 200Day….Oversold Short-Term RSI 25

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8. Job Postings at Covid Levels

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9. 2M Cars Repossessed in 2025

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10. Three Highlights from Scott Galloway New Book-“Notes on Being a Man”

Axios CEO Jim VandeHei writes:

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