October 7th Pre-Market Brief

SpaceX wants $40 billion more in debt. That's nearly a year of sales.

Author

J.L. Bernstein
October 07, 2026

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Good Morning

Stocks opened a little lower after yesterday's record close as bond yields climb again. The economy keeps holding up, and that's part of why rates aren't coming down

Let's dig in...

Today's Big Picture

1. A Ceasefire May Not Bring Rates Down 

Treasury Secretary Scott Bessent says bond yields will fall once the Iran war ends. Fed Chair Kevin Warsh says a strong economy is the bigger driver, and that won't end with the war. So rates could stay high after a peace deal, and smaller companies would feel it most.

2. AI Borrowing Is Now Pushing Rates Up SpaceX 

$SPCX wants $40 billion more for Nvidia $NVDA chips, after borrowing $25 billion this summer. Most of it would be bonds aimed at insurers and pension funds, the same buyers the government needs. Societe Generale named the plan as one reason bonds are selling off today. That makes big AI stocks a shakier hiding spot from high rates than they look.

3. Oil Heads Into Winter With No Backup Supply Chevron

$CVX CEO Mike Wirth says the stockpiles that softened this year's oil shock are drained. Saudi Aramco's CEO says refilling them could take two years. Until then, each new attack on Gulf shipping hits prices harder, with Brent already above $100.

P.S. Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus.

See them now in MarketBeat's → "The Best Nuclear Energy Stocks to Buy” before it goes back behind the paywall.

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Stock Spotlight (pre-market)

getting crushed premarket after a bipartisan House report flagged the trading app's ties to China's government. Most of its staff work at a China subsidiary, the report says, though Webull told lawmakers it had none. Its 28 million users hold $24.6 billion on the platform.

Constellation Brands $STZ ( ▲ 1.62% )  

lower premarket as depletions, its main read on real beer demand, slipped from a year ago. The Modelo and Corona brewer still beat profit and sales estimates, but grocery and convenience store sales fell.

Micron $MU ( ▼ 1.72% )  

leading chipmakers lower premarket on a strike threat at its Taiwan plants, its biggest production base. Unions there rejected a record bonus offer and are moving toward a strike vote.

Penguin Solutions $PENG ( ▲ 4.95% )  

higher premarket after a fourth-quarter beat and a raised outlook for next fiscal year. The AI data center hardware maker earned $1 a share, against 77 cents expected.

sharply higher premarket after the food safety company raised its full year revenue forecast. It now sees $885 million to $890 million in sales, above the $883 million analysts expected.

Flutter Entertainment $FLUT ( ▲ 0.69% )  

higher premarket after Citi upgraded the FanDuel owner to buy from neutral. Citi called the recent selloff over Brazil and September U.S. sports results overblown.

What to Watch

Fed Minutes (2 PM ET) Traders see about a one-in-five chance of an October hike, down from a coin flip last week. Deutsche Bank says officials agree more hikes are coming but split on how fast. If the minutes show the fast camp is bigger than expected, October comes back into play.

Want to Know about this years upcoming IPO’s?
MarketBeat did an excellent job on this free IPO guide on IPO’s happening this year

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Note: This newsletter is intended for informational purposes only. This edition is in partnership with MarketBeat.