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☕️ GM Munchers! Skipped hockey to watch Dancing With The Stars with my wife last night. My commitment to the market is strong, but my commitment to not sleeping on the couch is clearly stronger.

On today’s menu:

• 🕊️ A Peace Deal That Appeared, Then Vanished

• 🚀 SpaceX Just Posted A Blowout Quarter

• 🍟 Tasty Movers & Shakers

• ✈️ Boeing Won A Huge Approval But The Stock Yawned

• 👀 War-Time Stocks I Bought Last Month

Yesterday’s numbers:

BREAKING NEWS

🕊️ A Peace Deal That Appeared, Then Vanished

Talk about market whiplash. Early yesterday, reports flew around that the U.S. and Iran had agreed to a deal to end the war. The proposal was mediated by Qatar and Pakistan, and it reportedly included confidential inspections of Iran’s nuclear sites plus a partial return of Iran’s frozen money. For a few hours, it looked like the conflict driving up oil prices all year might finally be winding down.

Then, just as fast, it fell apart. Later in the day, other reports said a deal was not actually close, and the optimism faded. Oil, which had dropped on the peace hopes, bounced back up. So the whole day was a back-and-forth of “it’s happening” followed by “never mind.” Nobody really knows what’s going on behind the scenes right now. But here’s the thing: despite all the confusion, the market still closed higher.

• 🛢️ Oil swung both ways: Crude fell when peace looked likely, then climbed back as the deal talk cooled, showing how tightly oil is tied to this war.

• 📈 Stocks shrugged it off: Even with the messy headlines, the market finished up, a sign investors are leaning toward hope over fear.

• 🤝 Talks are still happening: A deal wasn’t reached, but the fact that both sides keep negotiating is a positive sign for an eventual end.

The Munch Take: Here’s the real takeaway, and it’s a simple one. This war is eventually going to end. Full stop. When it does, it will be a fantastic catalyst for the market, because the oil spike that’s been feeding inflation and pressuring stocks all year would finally ease up. Now, could the war end this week? Maybe. This month? Maybe. Six months from now, or a year from now? Absolutely possible too. The honest truth is nobody knows the timing, and you should tune out anyone who claims they do. So here’s our game plan, plain and simple. We don’t trade the daily headlines, because that’s a great way to get whipsawed into bad decisions. If stocks drop before the war ends, wonderful, that’s a buying opportunity on quality names. If they don’t, we just sit tight and stay patient. Either way, the eventual peace is a tailwind waiting to happen. Stay calm, keep your list ready, and let the chaos sort itself out.

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STORY OF THE DAY

🚀 SpaceX Just Posted A Blowout Quarter

Elon Musk’s rocket company just delivered a monster report, and the numbers are genuinely eye-popping. $SPCX SpaceX reported third-quarter revenue of $14.58 billion, up a staggering 161% from a year ago, blowing past the roughly $12.9 billion Wall Street expected. Even better, the company turned a real profit, posting $4.4 billion in net income, more than double what analysts forecast. For a company that lost money just a quarter ago, that’s a remarkable swing.

Here’s the part that will surprise most people. SpaceX is famous for rockets, but rockets aren’t where the money is right now. The biggest chunk of revenue actually came from its AI business, called Super Intelligence, which raked in $7.6 billion, even more than Starlink. Add in Starlink’s booming satellite-internet subscribers, and you’ve got a company that’s quietly become an AI and connectivity giant that happens to also launch rockets.

• 💰 Profit finally showed up: Operating income hit $2.8 billion, a massive turnaround from a $273 million loss in the same quarter last year.

• 🛰️ Starlink keeps growing: The satellite-internet service pulled in over $5 billion as consumer, business, and government customers piled in.

• 🚀 Starship is progressing: The giant rocket deployed 26 next-generation Starlink satellites, a key step, though it’s still being tested.

Now here’s the catch investors need to understand. SpaceX is spending money at a breathtaking pace. Capital spending hit $19.6 billion in the quarter alone, as it builds out AI computing power and its satellite network. That’s a lot of cash going out the door to fuel all this growth.

• 📈 The stock barely moved: Despite the blowout, shares rose only about 1.6% after hours, a sign a lot of good news was already priced in.

• 💸 It’s wildly expensive: SpaceX trades at a sky-high valuation, so even great results have to clear an enormous bar.

The Munch Take: Let’s give credit where it’s due. This was a genuinely excellent quarter, and the surprise that AI now out-earns the rockets tells you SpaceX has become something far bigger than a launch company. The profitability turn is real and impressive. But here’s our honest, unchanged read. The fact that the stock barely budged on a blowout like this is the whole story. When a stock is priced for perfection, even near-perfect results get a shrug, and that’s a dangerous spot to buy into. On top of that, the eye-watering $19.6 billion in spending means this company needs everything to keep going right to justify its price. We’ve said it before and we’ll say it again: SpaceX is a phenomenal company and a terrible-value stock at these levels, far too expensive and volatile for us. We’re not buyers up here no matter how good the numbers look. We’d love to own a piece of this story someday, just at a price that makes sense. For now, we watch from the launchpad. Great company, rich stock, and we stay patient.

MARKET OVERVIEW

Tasty Movers & Shakers

🥇 Special Report: 7 stocks hiding behind the next big move (via StockEarnings)

📊 $EFX Equifax jumped 11.33% after quarterly earnings sailed past Wall Street’s estimates. When the credit-data giant beats big, investors are happy to pay up.

🎬 $LION Lionsgate Studios popped 14.55% on reports that Legendary Entertainment is circling it for a takeover. Nothing lights up a studio stock like a buyer sniffing around the lot.

💰 $BRK.B Berkshire Hathaway rose 1.43% as investors fled AI names for safer ground, drawn to their massive $350 billion cash pile. In a nervous market, a mountain of cash looks awfully comforting.

✈️ $GE GE Aerospace fell 4.66% as investors fretted about slowing growth in its lucrative plane maintenance and parts business next year.

🩺 $DVA DaVita dropped 6.28% after reports that the Trump administration is preparing moves to boost competition in the dialysis market. More competition is the last thing a dominant player wants to hear.

STOCK OF THE DAY

✈️ Boeing Won A Huge Approval But The Stock Yawned

Finally, some good news for the troubled plane maker. $BA Boeing just got FAA approval for its 737 Max 10, the largest jet in its best-selling family of planes. This clears the way for Boeing to start delivering the jet, and it’s a genuinely big deal, since the Max 10 makes up about 30% of Boeing’s 737 order backlog, with roughly 1,555 planes already ordered. Here’s the strange part though: the stock barely budged on the news, and it’s still down about 16% this year. So what gives?

Let’s start with why this matters. The Max 10 was supposed to start flying way back in 2020. But after two deadly Max crashes in 2018 and 2019, plus a string of other safety problems, regulators slowed everything to a crawl. It took years of engineering fixes and intense scrutiny to finally get the green light. So this approval closes a painful, multi-year chapter for Boeing.

So why didn’t the stock jump? Simple: everyone saw it coming. Reports had been swirling for days that approval was basically a done deal, so investors already baked the good news into the price. When a stock “prices in” an event ahead of time, the actual announcement lands with a shrug.

• 🛫 Deliveries mean cash: Boeing can now start handing over these jets to airlines like United, Delta, and American, which finally brings in real money.

• ⚠️ The trust gap lingers: Years of safety crises left deep scars, and investors want sustained proof, not one approval, before piling back in.

• 📅 Earnings are the real test: Boeing reports on October 27, and that’s where the market actually judges whether the turnaround is working.

The Munch Take: This is a solid, needed win for Boeing, but one approval doesn’t fix years of damage. The company is still losing money, still rebuilding trust, and still trying to prove it can consistently build planes safely and on time. That’s exactly why the stock shrugged: Wall Street has heard “Boeing’s turning the corner” before and wants receipts. Here’s our honest read. Boeing is a genuinely elite business with a massive moat, basically half of a global duopoly on big jets, and it’s trading well below where it was. That makes it interesting as a long-term recovery story. But we don’t buy recovery stories on hope, we buy them on proof. The October 27 earnings report is the one to watch. If deliveries are climbing and cash is flowing, this quiet approval may look like an early turning point. For now, it stays on the watchlist. Great franchise, long runway back, but we need to see the plane actually take off before we board.

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Pre-Market Fuel

1. 👀 War-time stocks I bought last month (Ad)

2. 💉 TikTok just banned what?

3. 🇨🇳 This is a crazy China fact.

4. 🎮️ The Playstation 6 is going to be expensive.

🍪 Munchy Memes

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