Guavy Wire
Updated 20:27 UTC
Market news, commentary, and analysis curated and summarized by our AI editorial team.
New York Leads Multi-State AI Safety Regulations with RAISE Act
New York’s NYDFS is working with California and Illinois to regulate advanced AI systems under the RAISE Act, set to take effect January 1, 2027. The law requires transparency, safety frameworks, and incident reporting within 72 hours. California and Illinois have similar laws, with Illinois adding annual audits. Frontier AI developers will face higher compliance costs and potential multi-state scrutiny.
Analyst Predicts $15,000 Gold Amid Diverging Market Views
Spot gold is trading near $4,161, with analyst Don Durrett predicting a surge to $15,000 due to macroeconomic shifts, including rising Japanese interest rates and an unwinding yen carry trade. Major banks, including UBS and Goldman Sachs, project more modest targets of $4,500-$6,000. Durrett’s “567 rally” forecasts gold hitting $5,000 by January and $7,000 by December, contrasting with institutional forecasts. The gold-to-S&P 500 ratio, currently 0.54, is a key indicator for Durrett, who believes gold will ultimately outperform stocks.
Amgen Stock Holds Near USD 403 as Cantor Fitzgerald Maintains Neutral Rating
Amgen's stock reached USD 403.25 on October 5, 2026, despite Cantor Fitzgerald reiterating a Neutral rating with a USD 400 price target. The firm cited commercial execution and positive clinical data as reasons for its stance. Amgen reported strong Q2 2026 revenue of USD 10.05 billion, up 9.5 percent year-over-year. Analysts' consensus target of USD 385.25 is below the current market price, reflecting mixed views on the company's future performance.
Ferguson Wellman Capital Boosts Stake in Amgen by 4.8 Percent
Ferguson Wellman Capital Management Inc. boosted its holdings in Amgen Inc. by 4.8% during the third quarter, now owning 259,022 shares worth $103,614,000. Several other institutional investors also adjusted their positions in Amgen. Insider sales included transactions by SVP Rachna Khosla and SVP Nancy Grygiel in August. Analysts have mixed ratings on Amgen, with a consensus "hold" and a target price of $385.25. Amgen's stock has fluctuated between $288.00 and $447.03 over the past year, and the company recently reported strong earnings and declared a quarterly dividend.
Stocks Climb Near Records on Buyout Deals and AI Optimism
U.S. stocks rose Monday, with the S&P 500 nearing its record high after buyout deals involving PTC and RXO boosted software and AI-related stocks. The Nasdaq set a new high, while the Dow gained modestly. High oil prices and inflation concerns pushed the 10-year Treasury yield to 5.31%, raising expectations of another Federal Reserve rate hike. A report showed slower-than-expected growth in U.S. services sector, but with faster inflation for materials.
Tokenized Stocks Surge to $3.96 Billion in Weekend Trading Volume
Tokenized stocks generated $3.96 billion in weekend DEX volume in September, a 106x increase since November. The category's market cap reached $4 billion in September 2026, with TVL growing from $21.6 million to $289 million. Major issuers include bStocks, xStocks, and Robinhood, with trading primarily on Uniswap, Raydium, and PancakeSwap. Tokenized equities are gaining prominence in DeFi but remain small compared to traditional markets.
Gold Climbs as US Rate Hike Bets Weaken
Gold prices rose on Monday in early Asian trading as softer economic data reduced expectations of a US Federal Reserve rate hike. Spot gold climbed 0.3% to $4,153.32 an ounce, while US gold futures for December delivery advanced 0.5% to $4,182.40. Other precious metals, including silver, platinum, and palladium, also saw gains. The rally reflects a shift in market sentiment away from aggressive rate hike speculation.
Infrastructure Capital Advisors Raises S&P 500 Target on Earnings Growth
Infrastructure Capital Advisors CEO Jay Hatfield expects no more than one additional Federal Reserve rate hike and sees deflationary trends in housing counteracting inflation. The firm has adjusted its equity valuation multiple to 20 but raised its S&P 500 target by 300 points due to earnings growth. The firm is also bullish on fixed income, actively buying U.S. Treasuries amid expectations of moderating inflation and less aggressive Fed policy.
Ethereum Price Predicted to Range Between $2,715 and $2,735 in 2026
The Crypto Prediction Market on Robinhood forecasts that Ethereum's price will range between $2,715 and $2,735 on October 5, 2026, at 10:00 AM EDT. The prediction is based on CF Benchmarks' Real Time Index, which ensures accuracy through an average of 60 collected prices. Traders can profit from correct predictions or close positions before the event resolves. The platform warns of significant trading risks and prohibits certain parties from participating.
Gold Miners Opt for Caution in Takeover Wave
Gold miners are adopting a more disciplined approach to acquisitions, favoring share-based payments and cost savings over all-cash deals. Gold Fields' $27 billion rejected bid for Northern Star was mostly in stock, reflecting a shift toward protecting against gold price volatility. Last year saw the highest value in gold mining deals in 15 years, with only 10% paid entirely in cash outside China. Buyers are also targeting operational synergies, such as shared infrastructure and project combinations. The industry remains fragmented, with the top 10 producers holding just a quarter of global mine supply.
Argent Capital Reduces Amgen Stake by 3.5% in Q3
Argent Capital Management LLC reduced its stake in Amgen Inc. (NASDAQ: AMGN) by 3.5% during the third quarter of 2023, selling 2,546 shares. Several other institutional investors have adjusted their positions in Amgen, with some increasing their holdings. Analysts have updated their price targets, with a consensus target of $385.25. Amgen's stock is trading at $403.06, and the company recently reported strong earnings with a 2.5% dividend yield.
Post-Pandemic Gloom Persists as Economic Indicators Diverge
Americans remain gloomy six years after the pandemic, despite economic recovery. Consumer sentiment hasn't returned to pre-pandemic levels, puzzling economists who are now relying more on objective data like spending and inflation. August saw a 0.9% surge in consumer spending, with a 0.6% increase after inflation adjustment. The jobs market shows a slow trend rather than decline, and economists suggest deeper analysis of survey data could offer better economic insights.