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Nasdaq Q3 2026: The Tollbooth Keeps Compounding

Nasdaq beat on both lines this morning: $1.48B revenue up 13%, adjusted EPS $1.04, with record $141B index inflows, record 18% fintech ARR growth, and the tokenization and always-on roadmap. Alex and Jordan break down the numbers, the segments, the call color, bull vs. bear, and the watch list.

The skinny

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