October 22, 2026 · AM edition

Wall Street owns the AI trade, Luka gets roasted, and someone brought a gun to Titans practice

Wall Street invented a leverage machine to bet on AI, a rookie roasted the best whiner in basketball, and someone in Tennessee skipped the part of the employee handbook about firearms. Normal Wednesday.

FF2K generated dispatch art for Wall Street owns the AI trade, Luka gets roasted, and someone brought a gun to Titans practice

Full recap

Goldman Sachs, JPMorgan, and Morgan Stanley just pocketed $52 billion in equity trading revenue this year, capturing roughly 80% of the market. The secret sauce: margin lending to hedge funds chasing AI stocks. So basically, the same institutions that will need a bailout someday are the ones handing out the leverage rope. Perfectly fine. Nothing to see here. The premarket and after-hours movers list reads like a greatest hits of hype: SpaceX, Super Micro Computer, Netflix, Dell. If your portfolio looks like a 2024 Reddit thread, congratulations, you are currently either very smart or about to learn an expensive lesson. The market will clarify which one soon enough. Hasbro moved midday, which is a sentence that should humble every quant on the planet. A toy company and a defense contractor (Northrop Grumman) both making the biggest moves list on the same afternoon is peak American capitalism in a single snapshot. Meanwhile in the NFL, the Tennessee Titans released defensive tackle Jordan Elliott after a firearm incident at the team facility. To be fair, bringing a gun to an NFL facility is one of the few things that will actually get you cut faster than missing a blocking assignment. The Titans are having a season. This is not helping. Warriors rookie Yaxel Lendeborg told Luka Doncic he sucks in his NBA debut and said he lost all respect for the perennial MVP candidate due to the whining and complaining. Rookie courage or rookie ignorance? Probably both. Either way, Luka has heard worse from his own fanbase after a bad fourth quarter. The 2026 World Series is upon us: Tampa Bay Rays versus the Milwaukee Brewers, Game 1 on Friday. A model simulated it 10,000 times so you do not have to think. Just remember: the model also did not account for a bullpen implosion in the seventh inning, which is basically a constant in October baseball. a courtside billionaire Madison visits Appalachian State in a Sun Belt Thursday night college football game, and somewhere a guy in a Waffle House is the most informed bettor in the building. These are the games that separate the degenerates from the professionals. Spoiler: there is not much difference at 11pm on a Thursday.

Highlights

  • Goldman, JPMorgan, and Morgan Stanley captured 80% of equity trading revenue this year by lending hedge funds the rope to chase AI stocks. The circle of financial life is beautiful and terrifying.
  • Titans DT Jordan Elliott got released after a firearm incident at the facility. Brought heat to the wrong building. Literally.
  • Luka Doncic, a man who has complained his way to multiple MVP votes, got called out by a rookie on debut night. The student has become the slightly annoyed teacher.
  • Super Micro Computer is on every premarket, midday, and after-hours movers list this week. At some point it stops being volatility and starts being a personality disorder.

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