The federal government shutdown is keeping us from Weekly Jobless Claims data and Factory Orders, likely delaying the release of nonfarm payrolls. Initial Jobless Claims have dropped significantly, showing the resilience of the labor market. Continuing Claims have remained below 1.94K for three weeks, indicating some stability amidst recent volatility.

Tesla delivered a record 497K vehicles in Q3, despite some brand erosion following CEO Elon Musk’s actions. With the expiration of the $7500 tax credit for EV purchases, Q4 deliveries may be impacted. Competition in the European EV market is increasing, but Tesla’s stock is still up +3% in early trading.

Factory Orders for August were expected to rise by +1.4%, reversing a trend of three down-months in the past four. Pre-market futures are mixed, with AI investment driving market sentiment. AI-based tech firms like NVIDIA and D-Wave Quantum are leading the charge, with potential for significant growth.

The next phase of the AI explosion could create massive wealth for investors, revolutionizing various industries. The “first wave” of AI stocks may soon plateau, paving the way for new cutting-edge companies to shine. Zacks’ AI Boom 2.0 report highlights 4 under-the-radar companies poised to benefit from AI’s next leap forward.

Read more at Nasdaq: No Jobless Claims, Factory Orders – Tech Trade Still Hot