TLDR
↘ MARKET RECAP → Stocks closed higher Monday led by big tech, extending last week’s gains.
⚙️ STEEL MEETS RARE EARTHS → Cleveland-Cliffs (CLF) jumped 7% after unveiling plans to process rare earths and critical minerals, expanding from steel into U.S. strategic supply chains.
🌩️ CLOUD CRASH → An AWS outage took down Netflix (NFLX), DoorDash (DASH), and Slack, shaking confidence in Amazon’s (AMZN) cloud dominance as rivals quietly gain ground.
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ENERGY
Steel Meets Rare Earths

Gemini
⚙️ Cliffs pivots to minerals. Cleveland-Cliffs (CLF) announced plans to expand into rare earth and critical mineral processing, positioning itself as a domestic supplier for EVs, defense tech, and clean energy manufacturing.
🇺🇸 Made-in-America metals. The company will leverage existing steel infrastructure to refine elements like neodymium and dysprosium—reducing U.S. reliance on China and aligning with federal supply-chain initiatives.
📈 Stock gets a boost. Shares rose nearly 7% on the news, as investors cheered diversification beyond traditional steelmaking and exposure to high-demand sectors.
TECH
Cloud Crash

Gemini
🌩️ AWS goes dark. A widespread outage at Amazon Web Services (AMZN) knocked out major websites Monday, including Netflix (NFLX), DoorDash (DASH), and Slack, disrupting millions of users worldwide.
⚙️ Root cause under review. Amazon cited a “network configuration issue” in its U.S.-East-1 region—the same hub behind several past incidents. Most services were restored within hours, but analysts say it exposes fragility in cloud dependence.
📉 Market jitters. Amazon shares dipped ~2%, while rival cloud stocks like Microsoft (MSFT) and Oracle (ORCL) edged higher as traders weighed reliability risks in Amazon’s core business.
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KEEP READING
White House economic advisor Hassett says shutdown could end this week (CNBC)
U.S. and Australia sign critical minerals agreement with $8.5 billion project pipeline (CNBC)
Army Corps of Engineers pausing $11 billion in projects over shutdown, Trump budget chief says (CNBC)
NOTABLE POSTS
Gold is casually up another +$170/oz today without any material news at all.
Gold can see the future.
— #The Kobeissi Letter (#@KobeissiLetter)
7:35 PM • Oct 20, 2025
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