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Risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback.

With the rally confined to fewer and fewer shares as sentiment and technical indicators show signs of overheating, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development.

Nobody needs to look hard to find warnings that stocks look frothy after a record-breaking surge from April’s nadir pushed valuations to levels associated with exuberance. Optimism has grown heated in recent months, with many traders seeming too busy chasing the upside to worry about an expensive market.

The S&P 500 recently notched one of its best six-month stretches since the 1950s fueled by the resilience of Corporate America, the booming outlook for artificial intelligence and hopes the Federal Reserve will keep cutting rates to prop up the economy. Yet those solid gains combined with the recent narrowness of the advance spurred vulnerability worries.

Today's show features:

• Bloomberg Intelligence Global Equity Strategist Gillian Wolff on Tuesday’s tech-lead stock selloff
• Kathy Wylde, President and CEO of the Partnership for New York City, on the 2025 NYC Mayoral Election
• Mark Dixon, Founder & CEO of International Workplace Group, on earnings and the commercial real estate market
• Bloomberg News Cross-Asset Reporter Isabelle Lee on new market entrants reshaping the $13 trillion ETF industry

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Antheia is the next-generation pharmaceutical ingredient producer with a mission to end drug shortages. Using advanced biosynthesis and fermentation technology, Antheia’s biomanufacturing platform enables rapid, efficient, agile, and on-demand production of key starting materials (KSMs) and active pharmaceutical ingredients (APIs) that are critical to public health. The firm believes its flexible approach supports the needs of a growing society and improves global access to essential medicines.

Founded in 2015, Antheia has grown into a commercial-stage company with its first product to market, an active customer pipeline, and near-term product launches. Dr. Christina Smolke, the company's co-founder and CEO, details her company's value proposition with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Palantir Technologies Inc. raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales, citing “accelerating and otherworldly” growth for its artificial intelligence and data analytics products.

Revenue increased 63% to $1.18 billion in the period ended in September, the company said Monday in a statement. Analysts, on average, estimated $1.09 billion. In the current quarter, sales will be about $1.33 billion, compared with an average projection of $1.19 billion.

Palantir has reported revenue above analyst estimates for 21 consecutive quarters, according to data compiled by Bloomberg.
“We are in a nosebleed zone,” Palantir Chief Executive Officer Alex Karp said in an interview Monday. “No one else is here.”
Profit, excluding some items, was 21 cents a share, compared with analysts’ average estimate of 17 cents.

Palantir has been one of the biggest public beneficiaries of the artificial intelligence boom. The company sells its AI software to both governments and companies, and has become a key provider to the US and its allies.

Founded in 2003 with backing from Peter Thiel and the venture arm of the CIA, Palantir’s software organizes information from disparate data sources and prompts customers to make better decisions, using AI tools to make those calls more quickly. In corporate settings, this can mean finding ways to save money. On the battlefield this can mean shortening the time from identifying a threat to neutralizing it.

Today's show features:

• Bloomberg Businessweek Senior Reporter Max Chafkin with reaction to quarterly earnings from Palantir
• Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, on whether investors are facing a bubble amid continued bets on big tech and artificial intelligence
• Bloomberg News Consumer Reporter Redd Brown with US IPO and Deals Reporter Ryan Gould on Kimberly-Clark agreeing to buy Tylenol-maker Kenvue for $40 billion
• Adam Goldstein, Founder and CEO of Archer Aviation on next-generation transportation and the economic opportunities afforded by eVTOLs

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