Morningstar, Inc. - October 6, 2025
How Inflation, AI, and Budget Battles Will Shape the Stock Market in Q4
Plus: Stocks Gain 1% As Healthcare Jumps, but Energy Stocks Slide,...
 Morning DigestOctober 6, 2025 Sarah Hansen, Dan Kemp, Ivanna Hampton Plus, a look at Nvidia’s potentially record-breaking AI investment. 
ADVERTISEMENT  Editor's Picks  Plug Power and Tilray surge as DraftKings and Reddit fall. Frank Lee  The market is walking a tightrope between an AI boom and an economic slowdown. David Sekera  72% of respondents incorporate sustainable investing factors into their investing process, although survey response rate falls. Anikka Villegas  Alphabet and Teradyne post big gains, while Salesforce and Adobe were down in the quarter. Frank Lee Investing Insights Falling yields lifted bond returns and rewarded patient investors. Saraja Samant PIMCO and Vanguard funds beat the competition. Gabe Alpert Invesco QQQ Trust led stock ETF returns in September, while the Vanguard Mid Cap Index Fund lagged. Bella Albrecht, Lauren Solberg YieldMax Gold Miners Option Income Strategy ETF and ARK Innovation ETF were among the best-performing ETFs in Q3 2025. Bella Albrecht A veteran team and disciplined approach are appealing. Greg Carlson Funds from Vanguard, Capital Group, and Fidelity are among the best performers. Gabe Alpert Consumer credit report and earnings from Tilray to be released. Frank Lee More New Stock Analyst Reports Ford (F) reported third-quarter deliveries rising 8.2% year over year and said it had seven straight months of sales gains. Ford Pro commercial customers' paid subscriptions grew 30% to about 815,000, while electric vehicles rose 30.2%. Ford brand sport utility vehicle sales rose 12.2% on the Explorer, Expedition, and Bronco (which set a third-quarter record). The new Lincoln Navigator was that brand's only bright spot, up 10.5%. F-Series increased 4.7%, with the F-150 Lightning electric vehicle up 39.7% to 10,005, a third-quarter record. Total EV volume of 30,612 set a quarterly company record; we think the expiring credit pulled sales forward. New Fund Analyst Reports Deep industry experience and an independently minded approach earn Davis Financial (RPFGX) Above Average People and Process Pillar ratings. Veteran manager Christopher Davis isn’t the only Davis team member with financials expertise. His more than 30 years of covering banks and the like includes a decade mentoring Pierce Crosbie, who has specialized in financials since joining Davis in 2008 and who became a comanager here at year-end 2018. Davis and Crosbie also draw on non-US financials specialist Sobby Arora, whose nearly two decades of experience includes a stint managing the financials sleeve of Federated International Leaders before joining Davis as an analyst in late 2017. The Tools You Need to Invest Like an Analyst Stay connected:
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