IRS Raises Tax Brackets

More pain for taxpayers, the IRS announced new federal income tax brackets.

Author

Ankit Sinha
October 10, 2025

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Your Daily Dose of Market & Career Clarity

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🎯 In this issue:

  • Banana Bits: Finance headlines that actually matter

  • Market Summary: Stocks slip as tech drags ahead of earnings season

  • What’s Ripe / Rotten: The tastiest and most disgusting stocks 

  • Technical Trip: Interview Question with Jane Street

  • Deal Dispatch: M&A, IPOs, and other transactions 

  • The Daily Poll: See how you stack up

  • Success Corner: How many betworking calls does it really take to break in

Market Snapshot

📉 Banana Bits

Market Recap

A Bad Day for the Market

The S&P 500 closed lower for just the second time in the last ten sessions. 

Thursday's session was a tough one for investors as even upbeat earnings reports from Delta and PepsiCo were not spared by the broader decline in tech stocks. 

S&P 500 declined 0.3% while tech-heavy Nasdaq 100 fell 0.2%, with Dell Technologies and Tesla as one of the biggest decliners. 

Even though the market has been through ups and downs, it has been muted for the last ten sessions as investors are worried about the uncertainty of a federal government shutdown. 

With that, investors are not expecting the FED to have major changes to its economic plan, given the delays in the release of important economic data. Traders are instead focusing on the upcoming earnings season, which kicks off next week, with earnings from J.P. Morgan due on October 14. 

What's Ripe

Delta Air Lines Inc. (DAL) 4.3%

  • DAL rose 4.3% in Thursday trading after the company posted third-quarter earnings that beat Wall Street estimates. The company also reaffirmed guidance to $6 EPS. 

PepsiCo Inc. (PEP) 4.2% 

  • PEP soared after the company posted third-quarter adjusted earnings of $2.29 a share, topping analysts’ estimates of $2.26. Revenue of $23.94 billion also beat forecasts.

  • The company also named Steve Schmitt as chief financial officer.

What's Rotten

Ferrari N.V. (RACE) 15.0%

  • RACE sank 15% in the U.S. after the luxury auto maker issued guidance for 2030 that was below analysts’ expectations.

  • Ferrari also scaled back its plans to go electric, saying electric vehicles would make up just 20% of its sports car model lineup by 2030, previously 40%.

Tesla Inc. (TSLA) 0.72%

  • TSLA dropped 0.7% as the National Highway Traffic Safety Administration opened an investigation into the electric-vehicle company’s full self-driving driver-assistance technology.

🧠 Technical Trip

Interview Q&A from Jane Street

👉 Want 1-on-1 recruiting help from Jane Street bankers & 2,000+ top mentors? Apply to WSO Academy

🦈 Deal Dispatch

M&A, IPOs, And Other Notable Transactions

📊The Daily Poll

Focus shifting to earnings—key player?

Login or Subscribe to participate in polls.

Previous Poll:

Is the AI rally a bubble?

Yes, déjà vu 2000: 39.5% // Not yet: 24.8% // Different this time: 19.2% // No bubble, just growth: 16.5%

Student Success Corner

👉 Check out more on WSO YouTube

Banana Brain Teaser

Previous

The water from one outlet, flowing at a constant rate, can fill a swimming pool in 9 hours. The water from a second outlet, flowing at a constant rate, can fill the same pool in 5 hours. If both outlets are used at the same time, approximately what is the number of hours required to fill the pool?

Answer: 3.2

Today

If T = 5/9(K - 32), and T = 290, then K =

❝

Macro investing is about betting on policies, not politics.

Paul Tudor Jones

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Happy Investing,
Chris, Vyom, Ankit, Mitchell, Colin, & Patrick