Elon Musk’s 4th Wealth Window Set to Open by October 30
Jeff Brown is the former tech executive who called the rise of Bitcoin, Tesla, and Nvidia years in advance. He's now predicting Elon Musk is about to open a new wealth window by October 30. Click here to see the details or read more below because the last three times this window opened, those who acted had a chance to walk away with generational wealth.
Dear Reader,
This Cybercab you see in this footage is taking me to Elon Musk's new project…
Which he called "the most epic AI project in history."
This is so big that I believe it will open a brand-new "generational wealth window…"
And whenever Elon opens one of those windows, people get rich.
He opened his first wealth window in the late 1990s…
With PayPal and its innovative digital payment technology.
An early investor was able to turn a tiny stake of $1,600 into $3.8 million…
Elon opened his second window with Tesla and its self-driving electric cars…
Anyone who invested just $5,000 at the IPO…
Would be sitting on more than $1.1 million today.
He opened his third window with SpaceX and its revolutionary reusable rockets…
Which gave early investors a chance to turn a single $100 bill into more than $6 million.
And now, I believe he's about to open his fourth and perhaps last wealth window by the end of this month.
Because it all begins with this project that I'm about to show you.
We have so much to look forward to,
Jeff Brown
Founder & CEO, Brownstone Research
Oil Hits $116. Dow Sinks 653 Points. Tech Holds Up
Wall Street ended Friday with another loss. The Dow sank 653 points. The S&P 500 fell 0.52%. Yet the Nasdaq lost just 0.21% as tech stocks held up.
Oil was the big story. Brent crude surged to $116.72 a barrel, its highest close since 2022. Energy stocks hit a record high. Banks and phone stocks fell.
The week ended with a split. The Dow gained 0.4% for the week. Small caps rose 2.0%. But the S&P 500 and Nasdaq fell for a 2nd straight week.
Now, the Fed and Big Tech earnings face a major test.
What Moved
Friday, October 23
The Dow fell 1.23%, or 652.82 points, to 52,215.16.
The S&P 500 lost 0.52% to 7,623.68.
The Nasdaq slipped 0.21% to 25,955.34.
The Russell 2000 fell 0.29% to 2,775.90.
Tech stocks rose 0.35%.
Energy stocks gained 2.5% to a record high.
Brent crude jumped 3.1% to $116.72.
U.S. crude climbed 3.8% to $103.27.
The 10-year Treasury yield rose to 4.99%.
American Express fell 3.7%.
AT&T and T-Mobile lost nearly 8% each.
SLB gained about 7%.
Chevron rose about 2.9%.
The Dow gained 0.4% for the week.
Small caps rose 2.0% for the week.
The S&P 500 lost 0.5% for the week.
The Nasdaq fell 0.7% for the week.
Why It Moved
Friday's selloff was not the same as Thursday's tech crash. This time, tech held up. Oil rose. Phone stocks fell. Banks and firms tied to consumer spending lost ground.
The fear was simple. High oil prices could keep inflation hot. That could force the Fed to keep rates high for longer.
Investors also looked ahead to key Big Tech earnings. After Thursday's chip selloff, Wall Street wants clear proof that AI spending will pay off.
Oil Surges to $116.72
Oil gave Wall Street its biggest worry. Brent rose 3.1% to $116.72 a barrel. That was its highest close since 2022. U.S. crude climbed above $103. Fighting in the Middle East raised fears of lost oil supply. Higher oil prices can raise the cost of fuel, food, and shipping. That can hurt both families and firms. It also makes the Fed's job harder. If prices keep rising, the Fed may have less room to cut rates.
Energy Stocks Hit a Record
Oil's surge helped energy firms. The S&P 500 energy sector gained 2.5% and hit a record high. Chevron rose 2.9%. SLB jumped about 7% after strong earnings. Higher oil prices can lift profits for firms that produce crude. But they can hurt firms that use lots of fuel. That split was clear on Friday. Energy stocks rose while most of Wall Street fell.
The Dow Sinks 653 Points
The Dow lost 652.82 points, its largest drop of the week. American Express fell 3.7% despite raising its profit forecast. The firm also announced plans to cut about 5% of its staff. Other stocks tied to consumer spending came under pressure. Higher oil prices added to those fears. When gas costs more, families have less cash left for other things. That could hurt sales at stores, hotels, and other firms.
Tech Stocks Hold Up
Tech had a much better Friday than Thursday. The Nasdaq lost just 0.21%. Tech stocks gained 0.35% as a group. But that small gain did not erase Thursday's damage. The chip index had crashed 6.7% in one day. Investors are still worried about the cost of AI. Firms are spending billions on chips, servers, and data centers. Wall Street now wants to know when that spending will lead to more profit. Next week's earnings may help answer that question.
Phone Stocks Fall Nearly 8%
AT&T and T-Mobile each lost nearly 8%. A report said SpaceX was seeking thousands of cell sites for a new wireless network. That raised fears of a new rival in the phone market. But cell tower firms rose. Crown Castle gained about 9%. American Tower rose around 4%. A new phone network could hurt old phone firms. But it could also mean more demand for towers. The same news created both winners and losers.
Bond Yields Rise Toward 5%
The 10-year Treasury yield rose to about 4.99%. That came after yields fell below 5% on Thursday. Higher oil prices raised fears that inflation could stay high. That may keep rates up for longer. Higher yields can make loans more costly for firms and families. They can also weigh on stock prices. The Fed now faces a hard choice. Prices remain high, but parts of the economy are showing signs of strain.
The Week Ends With a Split
Friday's losses did not erase every gain from the week. The Dow still rose 0.4%. Small caps gained 2.0%. But the S&P 500 lost 0.5%. The Nasdaq fell 0.7%. It was the 2nd straight weekly loss for both indexes. The message is clear. Tech no longer leads every rally. Investors are paying more attention to costs, cash, and profits.
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Why It Matters Now
The new week brings 3 major tests.
1. The Fed Meets Wednesday
The Fed will give its next rate decision on October 28. Investors expect rates to stay the same. But the Fed's words could move stocks and bonds. Oil above $116 makes inflation harder to fight.
2. Big Tech Reports Earnings
Microsoft and Alphabet report on Wednesday. Amazon follows on Thursday. Wall Street will watch sales, profits, and AI costs. Investors want clear answers. How much more will these firms spend? And when will that spending pay off?
3. Oil Could Drive the Next Move
Brent closed at $116.72. If oil keeps rising, fuel and shipping costs could climb. That could put more strain on families and firms. If oil falls, some of that pressure may ease.
Friday left Wall Street with a clear warning. Oil surged. The Dow sank 653 points. Bond yields moved higher.
Yet tech stocks held up. That split shows where the market stands. Investors are still willing to buy stocks. But they are much more careful about what they own.
This week, 2 things matter most: what the Fed says about rates and what Big Tech says about profits. Both could shape Wall Street's next move.
