The stock market closed lower on Tuesday, as rising bond yields and surging oil prices put heavy pressure on Wall Street.
The 10-year Treasury yield climbed to 5%, its highest level since 2007, while Brent crude rose 2.7% to around $108.55 a barrel amid ongoing Middle East tensions and Saudi pipeline closures, fueling renewed inflation concerns.
Meanwhile, Enova International (ENVA) plunged 23% after withdrawing its regulatory applications for its proposed acquisition of Grasshopper Bancorp, citing uncertainty over banking regulations for nonbank companies.
Overall, S&P 500 fell 0.5% to 7,586, while Nasdaq decreased 0.8% to 25,982.
Chart of the Day
Here is the one-year chart of Nebius (NBIS) as of September 9, 2026, when the stock was at $240.
AI hosting company Nebius delivered exceptionally strong growth as demand for AI compute is high. Last quarter, revenue jumped 454% year-over-year from $105 million to $582 million.
In the earnings release & earnings call, management said it closed 4 deals with total contract values (TCV) of more than $1 billion. TCV for new customers was nearly 9x higher than it was just a quarter earlier. Around 70% of deals included prepayments, which can help pay for datacenter buildouts. Nebius expects more than $9 billion in customer prepayments in 2026. The company is earning $20 million to $25 million per megawatt, with short-term deals getting $40 million to $50 million a megawatt. Demand is so strong, management stated that it could have sold its entire 2027 capacity already, but chose to keep some capacity available for shorter-term deals that carried higher prices.
However, the BIG news here is the unfathomable revenue estimates for the coming years:
- 2025: $500 million (actual)
- 2026: $3.4 billion
- 2027: $12.2 billion
- 2028: $22.1 billion
- 2029: $33.3 billion
- 2030: $44.1 billion
NBIS is a top holding in our Growth Portfolio and Focus List.
