Wall Street Wrap: Tech Surge, Fed Moves, and Amazon-OpenAI Deal Power Markets – Nov. 3, 2025 -( $AMZN $EPRX $GOVX $HOOD $INTG $KVUE $LLY $MODD $MTWO $NOK $NVDA $PLTR Rise!)
- Published Nov 03, 2025
- Agriculture & Energy
- Apple
- Biotech & Healthcare
- Consumer Goods & Trends
- Eupraxia Pharmaceuticals Inc.
- Financials & Fintech
- GeoVax Labs
- Investing & Inspiration
- Market News
- Materials & Natural Resources
- McDonald's
- Modular Medical, Inc.
- NVIDIA
- Serina Therapeutics, Inc.
- Technology & Beyond
- Tesla

U.S. equity markets began November on a mixed note, continuing the rally from October but with notable divergence among major indexes. Indeed Wall Street remains animated by the AI and tech rally, M&A headlines, and rate policy uncertainty—even as macroeconomic data delivers a nuanced, at times contradictory, signal. Investors await key corporate earnings reports and macro releases for further direction in the weeks ahead. The S&P 500 advanced 0.2% to 6,851, and the Nasdaq Composite added 0.5% to 23,834, fueled largely by gains in tech and AI-driven stocks. In contrast, the Dow Jones Industrial Average dipped 0.5% to 47,336, while the Russell 2000 trailed its larger-cap peers, reflecting more tepid performance among small-caps.
Macroeconomic and Fed Developments
Macroeconomic data remains clouded by reporting delays from the recent government shutdown. Private analysts estimate third-quarter GDP growth near an annualized 2.7%, with solid business investment and robust consumer demand. The Federal Reserve last week delivered a widely anticipated 25-basis-point rate cut, lowering the fed funds rate to 3.75–4.00%; however, Chair Powell signaled that further cuts are not assured for December, tempering market expectations. Treasury yields have eased modestly, with both 91-day bills and 10-year notes trending near 4.00%. Recent PMI reports offer a mixed view, indicating slowing but improving growth and softer inflation pressures.
Tariffs and Trade
The market continues to digest this year’s tariff changes, now averaging 15-17%. Fears of trade disruption have slowly abated as companies and global trade flows adapted more seamlessly than expected. New developments in U.S.-China trade included Beijing easing export restrictions on key auto semiconductors, giving a lift to U.S. chip stocks.
Major Company News and Share Price Movements
- Amazon (AMZN, $254, +4%): Amazon shares continued their upward trajectory, surging after the announcement of a landmark $38 billion cloud partnership with OpenAI. This move sent ripples across the tech landscape and placed Amazon among the day’s top performers.
- NVIDIA (NVDA, $206.88, +2.17%): NVIDIA benefited from renewed enthusiasm for AI and chip stocks, rallying alongside Amazon. The company is further boosted by export approvals for sales to the Middle East.
- Palantir Technologies (PLTR): Palantir shares rose over 3.35% to $207.18 to another new high ahead of quarterly earnings, bringing its YTD gain to 174%. The firm remains central to AI and data analytics investment themes and beat estimates after the close today.
- Eli Lilly (LLY): Eli Lilly saw steady performance rising 3.90% to $896.53.
- M&A Activity: Kimberly-Clark announced the acquisition of Kenvue, manufacturer of Tylenol, for over $40 billion, sending Kenvue (KVUE, $16.14, +12.32% shares sharply higher but pressuring Kimberly-Clark (KMB) stock with a double-digit decline.
- Other notable news: Microsoft (MSFT) secured export approval for NVIDIA chips to clients in the UAE—a move seen as positive for future international AI infrastructure deployments.
- Opendoor Technologies Inc. (NASDAQ: OPEN, %7.59) announced it will transform its quarterly earnings presentation into a “Financial Open House,” becoming one of the first companies to livestream on Robinhood (NASDAQ: HOOD, $147.08, +.20%). The reimagined format, debuting November 6, 2025, at 2:00 PM PT / 5:00 PM ET, is designed for how millions of people consume information today: on their phones, on their time, with the ability to ask questions. The presentation will stream live on Robinhood, X, YouTube, and Opendoor’s investor relations site.
Commodities, Crypto, and Yields
- Gold/Silver: Gold, $4013.70, +.43% and silver $47.91/oz. -.52%.
- Oil: Oil markets were steady, with OPEC pausing further production cuts and geopolitical tension moderating. Oil closed at $1.02/bbl.
- Bitcoin and Crypto Stocks: Bitcoin (BTC) retreated modestly after strong October gains trading in the $106k area, with related equities mirroring this pullback as enthusiasm cooled.
- Yield Curve: The 2Yr. closed at 3.617% and the 10Yr closed at 4.113%.
Vista Partners Watchlist Highlights & Updates

Eupraxia Pharmaceuticals (EPRX, $6.09, +7.88% over the last 5-days) is clinical-stage biotechnology firm headquartered in Victoria, Canada, that is leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need & has quietly become one of the more intriguing stories on both sides of the border in 2025. The company’s shares now trade under the ticker EPRX on both the Nasdaq and the Toronto Stock Exchange, following its U.S. market debut in April 2024. This dual listing has broadened its investor base at a time when the company’s clinical and financial narrative is gaining momentum. All covering analysts currently rate the stock as a “Buy” or better, with not a single “Hold” or “Sell” recommendation in sight. In a sector defined by binary outcomes and frequent disappointment, such unanimity is striking. Overall, analysts cite Eupraxia’s strong clinical pipeline and revenue growth potential as key drivers behind their bullish outlook.
View the Tribe Public event titled “How New Drug Delivery Methods Are Changing Lives: Eupraxia’s Innovations Explained.” This special event wasco-hosted by James A. Helliwell M.D. the CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX), who will deliverer a brief presentation & was also be available for Q&A session.
After the close on Monday, Sept. 29, Eupraxia Pharmaceuticals provided an operational update on the development of EP-104GI, including reporting data from patients in Cohort 9 of the dose escalation portion of the RESOLVE trial, the first time that patients received an 8mg dose per injection. “We believe our recent financing, combined with our latest clinical trial results, underscores both the medical and investment communities’ confidence in EP-104GI. The strong efficacy trend observed in previous cohorts – the more drug we deliver to the tissue, the better the results we observe – has continued in Cohort 9. Combined with the absence of any Serious Adverse Events or cases of candidiasis, this strongly suggests that an 8mg dose per injection is the optimal second dose to test in our Phase 2b trial”, said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe EP-104GI has the potential to significantly improve upon the current standard of care, as the clinical efficacy outcomes and improvements in tissue health reported so far are well beyond the published results for the leading currently approved therapies. With the capital raised, we are well-positioned to expand our Phase 2 study, prepare for a robust Phase 3 program, and pursue additional clinical indications, subject to discussions with FDA, all with a runway extending well into 2028”.
On Sept. 24 Eupraxia Pharmaceuticals announced the successful closing of its previously announced public offering (the “Offering”) of 14,636,363 common shares of the Company (the “Common Shares”), which includes the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of US$5.50 per Common Share for gross proceeds of approximately US$80.5 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering. “This financing represents a pivotal milestone for Eupraxia, enabling us to accelerate the development of EP-104GI for eosinophilic esophagitis and advance toward our upcoming Phase 2b clinical readout, plus other key clinical and regulatory milestones,” said James Helliwell, CEO of Eupraxia. “The strong participation from leading life-science focused investors validates both our strategy and technology, and with this financing, we believe we are now capitalized into the first quarter of 2028, providing the resources and flexibility to deliver on our vision.”
Cantor and LifeSci Capital acted as joint book-running managers for the Offering. Bloom Burton also acted as co-manager for the Offering.

Modular Medical, Inc. (NASDAQ: MODD, $.5561, +12.37%) is an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target the estimated $3 billion dollar adult “almost-pumpers” market with its user-friendly and affordable design. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.” Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
On Nov. 3, Modular Medical announced the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology. The successful validation derisks Modular Medical’s path to commercial manufacturing, ensuring reliability and scalability for the launch of the Pivot product. The Company’s low-cost, high-volume, manufacturing optimized platform is designed to support the Company’s goal to capture significant market share, for the benefit of both patients and investors. Modular Medical’s focus on accessibility and innovation positions it as a leader in the rapidly expanding diabetes technology market.The Pivot insulin delivery system is not currently cleared for sale by the United States Food and Drug Administration (the “FDA”).
On October, 28, Modular Medical announced that it is continuing to progress toward CE Mark certification under the European Union Medical Device Regulation (“EU MDR 2017/745”). As part of this process, the Company is pleased to announce the successful completion of its Stage 1 ISO 13485:2016 audit, conducted by BSI, its Notified Body and Registrar. The audit evaluated Modular Medical’s quality management system (“QMS”) for compliance with ISO 13485:2016 and alignment with EU MDR 2017/745 requirements, to confirm that the Company’s QMS is robust and well-documented, with no major nonconformances identified. “This milestone reflects the dedication of our team and our commitment to bringing innovative, patient-friendly, insulin delivery solutions to market in Europe and beyond,” stated Jeb Besser, CEO of Modular Medical. Completion of the Stage 1 audit paves the way for Modular Medical to advance to its Stage 2 audit in early 2026 – the final step before achieving the required ISO 13485 certification. In parallel, the Company will begin preparations for its CE technical documentation review under EU MDR 2017/745, which is anticipated to commence later in 2026. Successful completion of these steps is required for Modular Medical’s planned commercial launch in the European Union. The Pivot insulin delivery system is not currently cleared for sale by the U.S. Food and Drug Administration or in any other market outside the U.S.
On October 6, Modular Medical announced the appointment of David Bosshard as Head of International Operations. With two decades of expertise in scaling similar tubeless insulin delivery systems across Europe and beyond, Mr. Bosshard will drive Modular Medical’s global strategy, leveraging his success in launching blockbuster products, such as Insulet’s Omnipod and Ypsomed’s YpsoPump, to position the Company for international growth in the rapidly expanding wearable diabetes technology sector.
On Sept. 29, Modular Medical announced the exercise of certain existing warrants issued in May 2023 and March 2025 (the “Existing Warrants”) at a reduced exercise price of $0.68 per share. The shares of common stock issuable upon exercise of the Existing Warrants are registered pursuant to effective registration statements on Form S-1 (file no. 333-271413), as amended, and Form S-3 (file no. 333-286768). In consideration for the immediate exercise of 6,504,731 Existing Warrants for cash, the Company will issue new unregistered warrants to purchase up to 3,252,366 shares of common stock (the “New Warrants”). The New Warrants will have an exercise price of $0.84 per share and will be exercisable upon issuance and will have a term equal to five years from the date of issuance. The gross proceeds to the Company from the exercise of the Existing Warrants were approximately $4.4 million, prior to deducting servicing agent fees and offering expenses. The Company intends to use the net proceeds for working capital and general corporate purposes.
On Sept. 15, Modular Medical announced Institutional Review Board (“IRB”) approval to conduct an in-house feasibility study of its next-generation Pivot insulin delivery system using sterile saline (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering sterile saline to adult participants for up to 90 days to gather critical data on device usability, extended wear performance and user feedback.
On September 11, Modular Medical announced the successful completion of a clinical study with the MODD1 pump. The MODD1 was worn by nine clinicians with Type 1diabetes who currently wear a continuous glucose monitor (“CGM”) and other pumps to provide the Company with real-world experience and feedback to make further refinements for the launch of its next-generation Pivot pump product. This MODD1 study was conducted to test and refine its ease of use for converting multiple daily injectors to this system and will continue as we prepare for the Pivot launch.

Shares of ADT Inc. (ADT, $8.79) is a leading provider of monitored security and automation solutions for residential and small business customers in the United States and Canada. On Sept. 30, ADT Inc. announced that its indirect wholly owned subsidiary, The ADT Security Corporation, has priced its offering of $1.0 billion aggregate principal amount of 5.875% first-priority senior secured notes due 2033 (the “Notes”) in an offering that will be exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) (the “Offering”).

GeoVax Labs, Inc. (Nasdaq: GOVX, $.5739, +1.45%), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer.
On Nov. 3, GeoVax announced relocations of its corporate headquarters and laboratory operations to new facilities in the Atlanta metropolitan area. The moves, scheduled for fourth quarter of 2025, will support GeoVax’s continued growth, expanding pipeline, and preparation for product commercialization.
On October 30, GeoVax responded to testimony delivered at a Senate HELP Committee hearing by John Crowley, CEO of the Biotechnology Innovation Organization (BIO), who cautioned that U.S. biotech leadership could be overtaken by China within two years. GeoVax emphasized that Crowley’s warning should serve as a clear call to action for Congress and the Administration to secure America’s competitiveness and biosecurity through immediate investment and policy changes. GeoVax outlined six priority actions for policymakers:
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Diversify vaccine platforms beyond reliance on mRNA, funding MVA and other multi-antigen, next-generation technologies.
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Onshore advanced manufacturing with continuous cell-line vaccine production and U.S.-based fill/finish capacity.
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Protect NIH funding that fuels the biotech innovation pipeline.
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Modernize FDA pathways with expanded use of immuno-bridging and expedited programs for high-risk populations.
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Expand incentives such as priority review vouchers for biodefense products.
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Pair China guardrails with U.S. investment, ensuring scale-up and resilience at home.
On October 29, GeoVax emphasized how its recently presented Phase 2 clinical data for GEO-CM04S1, first reported at the World Vaccine Congress Europe 2025, align with the new Infectious Diseases Society of America (IDSA) guidelines prioritizing vaccination for immunocompromised individuals. The IDSA guidance, issued October 17, 2025, concluded that existing COVID-19 vaccines provide only moderate and short-lived protection for immunocompromised patients – with effectiveness against hospitalization ranging from 33% to 56% and waning within two months. The panel called for new vaccine strategies tailored to vulnerable populations, including cancer patients, transplant recipients, and individuals receiving immunosuppressive therapies. “Immunocompromised Americans are not a niche,” said David A. Dodd, Chairman & CEO of GeoVax. “They are cancer patients, transplant recipients, people with autoimmune disease, and those living with HIV – one in eight adults. They include family members, colleagues and neighbors. Yet mainstream vaccine approaches, heavily centered on mRNA, continue to leave them without durable protection. The new IDSA guidelines reinforce the urgent need for alternatives like GeoVax’s GEO-CM04S1.”
On October 28, GeoVax highlighted the recently issued Infectious Diseases Society of America (IDSA) guidelines recommending immediate and prioritized COVID-19 vaccination for immunocompromised individuals. The new guidelines underscore the significant unmet need in this population – one that remains at heightened risk of severe illness despite widespread vaccine availability – and confirms what clinicians, patients and policymakers have long recognized: over 40 million Americans with weakened immune systems remain at heightened risk of severe COVID-19 illness and are underserved by existing vaccines.
On Sept. 29, GeoVax Labs announced its strong support for the newly unveiled America First Global Health Strategy by U.S. Secretary of State Marco Rubio. The strategy underscores the importance of American innovation, domestic pharmaceutical manufacturing, and global partnerships in strengthening health security and safeguarding U.S. national interests.

- Third Quarter 2025 revenue of $626.4 million, down 2% year-over-year
- Third Quarter 2025 net loss of $49.5 million, or $0.28 per share
- Third Quarter 2025 adjusted EBITDA of $69.9 million, down 16% year-over-year
- Integrated Care segment revenue of $389.5 million, up 2% year-over-year, and adjusted EBITDA margin of 17.0%
- BetterHelp segment revenue of $236.9 million, down 8% year-over-year, and adjusted EBITDA margin of 1.6%
On Oct.. 14, Teladoc Health announced the launch of a new offering to help hospitals and health systems address workplace violence. This is the latest innovation within Teladoc Health’s Clarity™ monitoring solution, which includes AI-enabled software, hardware and services that empower care teams to monitor care settings and quickly direct the right resources. The solution serves multiple use cases including virtual sitting and now virtual workplace safety intervention.

On Oct. 29, Amarin announced financial results for the third quarter of 2025. Aaron Berg, President & CEO, Amarin stated, “With the reporting of Q3 2025 we usher in the next phase in the Amarin story. Our international commercial strategy is now a fully partnered model comprising seven parties and close to 100 countries with regional and in-country economies of scale, infrastructure and proven experience to commercialize a unique product like VASCEPA®/VAZKEPA® (icosapent ethyl). We are confident in the strategic actions we have taken at Amarin to date and optimistic about the potential of our global business. Meanwhile, we remain focused on additional ways to create value for shareholders. As always, we look forward to reporting on our future progress.”
We applaud the FDA’s decision to revise the labeling of fenofibrates (fibrates). The updated labeling now includes a clear statement on the lack of cardiovascular (CV) benefit, relevant safety data, and a refined indication as follows.
“Fenofibrate did not reduce cardiovascular disease morbidity or mortality in two large, randomized controlled trials of patients with type 2 diabetes mellitus.”
“Risk for rhabdomyolysis is increased when fibrates are co-administered with a statin. Avoid concomitant use unless the benefit of further alterations in TG levels is likely to outweigh the increased risk of this drug combination.”
“Fenofibrates are now indicated for the reduction in elevated LDL-C in adults with primary hyperlipidemia when use of recommended LDL-C lowering therapy is not possible.”


M2i Global, Inc. (MTWO, $.1139, +11.12%), through its subsidiary U.S. Minerals and Metals Corp., provides engineering, research, and services that integrate people, technology, and solutions from across sectors to ensure access to critical minerals and metals for national defense and economic security. M2i Global aims to establish a Strategic Mineral Reserve in partnership with the U.S. Federal Government, creating a resilient supply chain that addresses the global shortage of essential minerals and metals. For more information, please visit: www.m2i.global.
Quote of The Day
“It takes an endless amount of history to make even a little tradition.” –
Henry James
Sources
- https://www.kiplinger.com/investing/stocks/amazon-surge-sends-sp500-nasdaq-higher-stock-market-today
- https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-11-03-2025
- https://www.timesunion.com/business/article/how-major-us-stock-indexes-fared-monday-11-3-2025-21136136.php
- https://home.treasury.gov/news/press-releases/sb0301
- https://www.stordahlcap.com/insights/the-week-in-review-November-3-2025
- https://www.spglobal.com/marketintelligence/en/mi/research-analysis/week-ahead-economic-preview-week-of-3-november-2025.html
- https://www.pacbiztimes.com/2025/11/03/guest-commentary-economic-analysis-of-q3-2025/
- https://finance.yahoo.com/news/live/stock-market-today-dow-slips-nasdaq-pops-as-ai-optimism-sends-amazon-nvidia-higher-210217774.html
- https://www.bloomberg.com/news/articles/2025-11-03/us-stocks-extend-bull-run-as-amazon-inks-38-billion-openai-deal
- https://tradingeconomics.com/united-states/stock-market
- https://www.oppenheimer.com/news-media/2025/market-strategy/11-03-2025
- https://www.bloomberg.com/news/articles/2025-11-02/stocks-set-for-mixed-open-opec-to-pause-hikes-markets-wrap
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- https://www.pbs.org/newshour/economy/ai-darlings-prop-up-wall-street-as-most-other-stocks-fall
- https://www.barrons.com/livecoverage/stock-market-news-today-110325
- https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-climb-as-november-kicks-off-with-earnings-ai-fed-in-focus-000604179.html
- https://www.youtube.com/watch?v=kH1ZS3V0KmQ
- https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-11-03-2025/card/how-much-does-the-dow-rise-in-november-on-average–yOIXF061QMngoZ8hWMxB
- https://www.reuters.com/world/us/us-economy-risk-wobble-lower-income-consumers-get-squeezed-2025-11-03/
- https://www.seattlepi.com/business/article/how-major-us-stock-indexes-fared-monday-11-3-2025-21136136.php
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