Wall Street Rebounds as Boeing Takes Off, MongoDB Soars and Bitcoin Snaps Back Above $91K

If you like your market days with jumbo jets, obscure database software and a $90,000 bitcoin in the same session… Tuesday was your kind of circus.

Big Picture: Green Screens Again, Led by Tech and Crypto

After Monday’s wobble, the three major US indices closed modestly higher on Tuesday:

• Dow Jones +0.4%
• S&P 500 +0.3%
• Nasdaq +0.6%

The rebound was driven mainly by tech and crypto-linked names, helped by a calmer bond market: the 10-year Treasury yield hovered around 4.09%, little changed but comfortably off recent highs.

Bitcoin meanwhile did its best comeback impression, trading back near $91,000, up sharply from an overnight low below $85,500 after suffering its worst day since March on Monday.

Crypto-exposed stocks that were hammered at the start of the week – think Strategy (MSTR | +5.78%), MARA Holdings ((MARA | +3.39%), Coinbase (COIN | +1.32%) and Robinhood (HOOD | +2.2%) – all bounced along with it.

Oil eased about 1.1–1.2% to roughly $58.7 a barrel, while gold slipped about 0.8% as markets leaned back toward “risk on” ahead of a dense macro calendar later in the week.

So yes, it was “only” a modest green day for the indices, but under the surface, there were some very loud single-stock moves.

Boeing: From Cash Burn Story to Cash Flow Story

The star of the session was Boeing (BA | +10.15%), which suddenly remembered it’s supposed to be a business and not just a case study in industrial mishaps.

At an UBS transport conference, CFO Jay Malave laid out a much more confident medium-term path:

• Boeing expects to return to positive free cash flow in 2026, after years of deep losses.
• Management is guiding to $1–3 billion in free cash flow that year – “low single digits” in billions – with a longer-term goal of around $10 billion once 737 and 787 deliveries are fully ramped.

For context: over the past five years Boeing has racked up close to $39 billion in cumulative losses, including about $13 billion last year, weighed down by the 737 MAX door-panel incident, production issues and strikes. The market had every reason to be skeptical.

Yesterday’s message, though, was simple: production is stabilizing, deliveries should rise in 2026, and cash generation is finally in sight. In a market starved for credible turnaround stories, that was enough to send the stock more than 10% higher and to the top of both the Dow and the S&P 500 tables.

For portfolio positioning, I frame Boeing now as a high-beta macro/aviation recovery play rather than a pure “deep trouble” special situation. If you already own it, this is the first time in a while that the medium-term story and the price action are actually pointing in the same direction.

MongoDB: Quiet Database, Loud AI Story

If Boeing was the value/cyclical hero, MongoDB (MDB | +22.23%) was the growth rocket of the day.

MongoDB smashed expectations with its latest quarterly report and, more importantly, jacked up its full-year outlook:

• Revenue guidance now sits around $2.436 billion, up about 21% year-on-year.
• Adjusted EPS guidance was raised sharply from roughly $3.64–$3.73 per share to $4.76–$4.80.

The company is essentially selling the plumbing of the data world, cleaning and structuring data that then feed AI workloads. That’s not as sexy as “we’re building sentient robots,” but it’s exactly the kind of infrastructure spending that can grow steadily for years if AI deployment keeps ramping.

Cantor analyst Thomas Blakey put it bluntly: the AI tailwind is “still not fully priced in” to the stock, and a string of brokers raised their price targets.

Given the +22% spike, I’d say the market at least started to correct that oversight.

If you’re underweight second-tier AI infrastructure names and only hold the big GPU/megacap plays, MongoDB is the type of name I’d at least keep on the watchlist, with the usual caveat that execution risk and valuation risk are both firmly “on.”

Tesla and the Burry Broadside: Market Shrugs (For Now)

Tesla (TSLA | -0.21%) actually lagged in Tuesday’s risk-on mood, dipping slightly even as most of the “Magnificent Seven” crept higher.

The drag wasn’t macro – it was Michael Burry.

In a fresh Substack note and subsequent media coverage, Burry labeled Tesla “ridiculously overvalued”, arguing that:

• Ongoing stock-based compensation dilutes shareholders by roughly 3.6% per year, with no buybacks to offset it.

• Elon Musk’s newly floated $1 trillion compensation package could deepen that dilution and erode long-term shareholder value.

• The Tesla narrative has lurched from EVs to autonomy to robots in a way Burry sees as keeping a “cult” engaged more than reflecting current fundamentals.

The market reaction? A modest –0.2% on the day. Translation: investors heard him, noted it… and went back to trading their AI/robotaxi dreams.

From a portfolio perspective, Burry is hitting the right nerve: dilution is a very real cost, even if it’s non-cash in the income statement. If you’re long Tesla here, you’re explicitly betting that future cash flows from autonomy/robots will not only justify today’s multiple but also more than offset that dilution. That’s a high bar – and not a bad reason to size positions conservatively.

AI, Chips and Datacenter Plumbing: NVDA, Palantir, Credo, Marvell

The broader AI complex also helped Tuesday’s tone:

Nvidia (NVDA | +0.86%) added modest gains after Monday’s bounce, still riding optimism around its extended partnership and $2 billion investment in Synopsys to deepen AI chip design tools.

Palantir Technologies (PLTR | +1.91%) joined the move, even as Burry also took shots at Palantir’s valuation and stock-based pay in a separate interview.

On the pure infrastructure side:

Credo Technology (CRDO | +10.12%) rallied after beating Wall Street expectations on the back of strong demand for high-speed connectivity solutions into AI-heavy datacenters.

Marvell Technology (MRVL | +1.95%) climbed ahead of earnings, but then slipped about 6% after hours as revenue and guidance failed to clear the very high AI bar, despite a small beat on adjusted EPS.

Hollywood for Sale: Netflix, Warner Bros Discovery and the Bidding War

In media, the plot thickened around Warner Bros Discovery (WBD | +2.76%).

Reports say Warner’s board has received a second round of binding bids:

• Netflix (NFLX | +0.2%) has made a mostly cash offer focused on the studios and streaming business (HBO / HBO Max and associated IP).

• Comcast (CMCSA | +1.66%) is also targeting those assets to bulk up Peacock and its content portfolio.

• A Paramount–Skydance consortium wants the entire company, including the cable networks, and is seen by many analysts as the frontrunner given its political ties and potentially smoother regulatory path under the current administration.

Warner Bros Discovery shares have already doubled over the past three months on deal speculation, with yesterday’s move adding another couple of percent.

For investors, the key question isn’t just “Who wins?” but what form the consideration takes (how much cash vs. stock) and what premium remains from here. After such a sharp run, chasing WBD purely on bid-hopes gets progressively more dangerous, but the outcome will reshape the streaming landscape whichever way it breaks.

Macro: ADP, PCE and a Fed That’s (Probably) About to Cut

Macro was quiet in terms of hard data, but markets are clearly in pre-Fed mode now.

Here’s the setup:

• ADP private payrolls land today (Wednesday), followed by ISM services and other surveys, all of which will help refine the view on how quickly the labor market is cooling.

• On Friday, December 5, we finally get the September PCE inflation report, which had been delayed by the US government shutdown. That release now carries extra weight as one of the last key inflation datapoints before the Fed meets.

• Futures markets are pricing roughly 85–90% odds of a 25 bp Fed rate cut at the December 9–10 meeting, according to CME’s FedWatch and various sell-side trackers.

• On top of that, investors are watching for President Trump’s eventual decision on the next Fed chair, with names like Kevin Hassett floated as potential successors once Chair Powell’s term ends – yet another source of medium-term uncertainty for rates and risk assets.

Bottom line: the market is trading as if the Fed is about to blink and formally start an easing cycle. Any upside surprise in PCE – or a very hot labor print – could still upset that narrative.

How I’m Reading This for Portfolios

A few takeaways I’d keep in mind when you look at your own book:

• Risk appetite is back, but selectively. Quality growth with clear cash-flow visibility (MongoDB, some AI infrastructure) is being rewarded aggressively again. High-multiple stories that rely purely on narrative (parts of EV/AI) are facing much tougher questioning, especially around dilution and accounting.

• Cyclicals with credible repair stories can move fast. Boeing shows how quickly sentiment can flip once investors believe a cash-flow inflection is real, not just promised. That works both ways if execution slips.

• Macro still matters. With bitcoin above $90k and tech making fresh pushes, positioning is leaning toward “soft landing + Fed cut” again. If ADP or PCE break that story, the unwind could be sharp.

• M&A-driven pops are already partially priced. In names like WBD, the risk/reward now depends less on whether a deal happens and more on at what price and in what structure. Great for traders; trickier for longer-term investors.

As always, the opportunity isn’t just in chasing yesterday’s winners, but in understanding why they moved and whether that reason genuinely changes the long-term thesis.

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Kristoff - ChartMill

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