In today’s pre-mkt summary for Subscribers: Investors continue to shrug off the U.S. government shutdown, and instead are focused on additional Fed rate cuts amid sharply slowing U.S. job growth; $NVIDIA(NVDA.US) stock continues to hit new records as AI demand remains robust, but still trades at just 29x CY’26 earnings; $Tesla(TSLA.US) is likely to report better than expected 3Q deliveries (our est 470K vs WS est 443K) before the market opens, reflecting deliveries pulled forward from 4Q due to the now expired $7,500 EV credit. Open AI completed an equity funding at a $500 billion valuation, making it the world’s most valuable venture startup.