Presented by American Alternative Assets: The national debt just crossed $40 trillion, and the dollar has lost roughly a quarter of its purchasing power since 2020 — your retirement statement may look the same while it quietly buys less. Get the Free 2026 Wealth Protection Guide and see why retirees are turning to physical gold and silver →

Big beats are getting rewarded this morning. A mobile ad name is leading the gainers on a double beat, a game development platform is right behind it after a blowout quarter, and a fitness brand is climbing because revenue topped estimates even though profit came in light.

The losing side shows that the outlook still decides the reaction. A chipmaker and a travel booker are sliding on guidance that fell short, a real estate marketplace is lower after missing on both lines, and an optical materials name is slipping despite beating and raising.

The national debt has crossed $40 trillion.

When you started saving for retirement, you expected Social Security, Medicare, taxes, and the rules around your money to remain relatively predictable. But while you were working and building your nest egg, Washington was borrowing.

Now, the cost of that borrowing is growing...and retirees may feel it through a quieter threat: a dollar that buys less each year.

Since 2020, the dollar has lost roughly a quarter of its purchasing power. A retirement account can appear unchanged on a statement while the cost of groceries, insurance, property taxes, and healthcare continues to climb.

Meanwhile, central banks have bought more than 1,000 tonnes of gold per year for three years running. 

This Free 2026 Wealth Protection Guide explains why some retirees are paying attention, why stocks, bonds, funds, and cash can share the same dollar-based exposure, and how physical gold and silver differ from paper assets.

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AppLovin (APP): +22%

The software company known for mobile game advertising is rallying after topping estimates on both revenue and adjusted EBITDA. For a stock priced on growth, a beat on the top line and on profitability is the kind of quarter that keeps the bull case fully intact.

Unity Software (U): +20%

The game development company is surging after blowout third-quarter results, with both profit and revenue landing well ahead of what analysts expected. When a company clears the bar by this much, the market has to reset what it thinks the business can earn, and that repricing is happening before the bell.

Peloton Interactive (PTON): +10%

The fitness equipment maker is jumping after fiscal first-quarter revenue topped estimates, even though earnings came in a little light. The market is choosing the top line over the bottom line here, a sign investors care more right now about whether Peloton can grow than about a small profit miss.

Qualcomm (QCOM): -10%

The chipmaker is plunging even after a slight earnings beat, as the midpoint of its current-quarter profit outlook landed just under Street expectations. A drop this steep on guidance that close to consensus suggests investors were looking for a clear step up, not a near miss.

Expedia (EXPE): -7%

The online booking company is sliding after issuing mostly weaker-than-expected guidance for the current quarter. In travel, the forward outlook is the market’s read on demand heading into year-end, and that read came in softer than investors wanted.

Zillow (Z): -5%

The real estate marketplace is sinking after missing on key metrics in its third-quarter report, with both profit and revenue coming in below expectations. A miss on both lines leaves bulls nothing to hold onto, and the size of the drop shows how little patience the market has for a quarter without a bright spot.

Coherent (COHR): -3%

The optical materials company is dipping even though earnings, revenue, and current-quarter guidance all topped estimates. When a beat-and-raise can’t lift the stock, it usually means expectations had already run ahead of even strong numbers.

When you began saving, America's debt was nowhere near $40 trillion. 

But while Americans worked, saved, and planned for retirement, Washington continued borrowing...and the bill for that debt does not simply disappear.

For many retirees, the concern is purchasing power. Rising prices can make a retirement account feel smaller even when the balance has not changed.

The 2026 Wealth Protection Guide explains why dollar-based savings can lose buying power and why some investors consider holding a portion of their retirement in these physical assets.

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IonQ (IONQ)

IonQ reports third-quarter results after the close today, and the StockTwits stream is split heading in, with the sentiment gauge leaning bearish. Some bulls are floating a short-covering setup into the print, while more cautious voices say they’re watching revenue quality, cash burn, and guidance rather than qubit headlines.

This is the first quarter that includes SkyWater, the chip foundry IonQ acquired in July, and the stock is down roughly a third this year after a brutal October for quantum names. Options are pricing in a move of about 11% around the report, and tonight could be the moment that either restores faith in the quantum trade or confirms why traders have been heading for the exits.

✌️That’s it for today.