- Nasdaq Composite hit fresh record high, up ~1%
- Dow rose 0.18%, S&P 500 added ~0.7%
- Euro recovered to $1.122 after hitting 17-month low of $1.1160
- French 10-year bond premium over German debt surged above 150 bps
- Brent fell 1.89% to $100.32, WTI down 1.84% to $89.43
October 5, 2026
▲ 26▼ 31◆ 11– 60
Markets 74
- 10-year Treasury yield touched fresh 24-year high
- Global bond rout and AI-investing boom driving market dynamics simultaneously
- Euro traded at $1.122, lowest level since May 16, 2025
- Pressures from France's rising debt and political gridlock
- Spanish snap election added to currency weakness
- Nasdaq Composite and S&P 500 hit record highs Monday while 10-year Treasury yield rose above 5.34%
- Nvidia, Microsoft and Meta together account for ~17% of S&P 500, driving index higher despite broader market weakness
- Nvidia up 2.1% to first record close since May; Meta rose 1.9%, Microsoft added 1.5%
- Higher yields continue weighing on utilities and safety stocks, Cramer says
- Cramer notes bond market may offer better indication of market direction than equity indices
- Brazilian assets surge 8%, biggest rise this century outside GFC/pandemic
- Nasdaq +1% to new high, S&P 500 +0.7%, Dow +0.2%
- Brazilian real +4%, biggest rise in 4 years; euro -0.3% to 17-month low
- Dollar index hits 18-month high; oil -2%, gold little-changed above $4,100/oz
- Flavio Bolsonaro favored at 83% to win presidential runoff in 3 weeks
- Stock indices trending higher globally
- Treasury yields increasing across maturities
- Brent crude nearing $100 per barrel level
- Bolsonaro now 80-85% favored to win presidency after first-round results
- iShares MSCI Brazil ETF up 12%, Itau Unibanco up 15%, Banco Bradesco up 19%
- Brazil's Bovespa index up 8%
- Investors see Bolsonaro as more market-friendly candidate
- Runoff scheduled for Oct 25
- The Nikkei 225 index has reached a high of 70,037.
- The index is currently considered to be in an overbought state.
- There is an active risk of a market pullback for the Nikkei 225.
- Japanese Nikkei 225 index rose 2.0% in early trade.
- Gains were primarily led by electronics and machinery stocks.
- The rise was attributed to a weak U.S. jobs report.
- Weak U.S. jobs data lowered expectations for further Federal Reserve rate increases.
- AUD/USD rises 0.37% to 0.6972, second consecutive day of gains
- US ISM Services PMI eased to 54.9 in September but input costs surged
- RBA Governor Bullock said three rate hikes could tame inflation toward target
- Wall Street gains offset higher US yields, supporting Aussie resilience
- Technical bias remains bearish with RSI at 34.5, near oversold territory
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- GBP/USD flatlines above 1.3200 as 10-year yield hits highest since April 2002 (5.35%)
- Pound trades near strongest 2026 level against Euro amid French bond selloff
- No UK data through Friday, only BoE speeches from Mann, Greene, Lombardelli
- October Fed hike odds fallen to ~20%, FOMC minutes due Wednesday
- Significant and rare divergence between Nasdaq and Dow Jones two-month returns
- Historical divergence suggests elevated chance of either large surge or deep plunge
- USD/MXN falls 0.34% to 18.08 after peaking near 18.26
- ISM Services PMI slowed to 54.9 from 55.4, prices paid rose to 74
- Mexico 2027 public debt projected at 55% of GDP
- Banxico expected to maintain tight monetary policy stance
- U.S. stocks rose on optimism about AI boom
- Rising bond yields globally offset by AI optimism
- Mining financings fell nearly 90% YoY to $765M in September
- Down 78% from August
- 12-month total through Sept. 30: $23.34B
- Bond market rout of 2026 creating significant opportunity for savers and risk-averse investors
- Ferocious selloff attracting attention from investors seeking value in fixed income
- Market volatility presenting contrarian buying opportunities
- USD/CNH closed at 6.7041, down 0.15%, after slipping to 6.7008
- Pair expected to trade between 6.7000 and 6.7105 short-term
- 1-3 week range seen at 6.6950-6.7270, 1-3 month outlook favors gradual CNY strength below 6.7815
Macro/Economy 42
- NZD/USD trading just above 0.5600 near November 2025 low
- Net 43% of NZ firms expect better conditions, up from 8%
- RBNZ at 2.75%, bets on third hike October 28
- Fewer firms raising prices weakens case for further hikes
- Japan's Services PMI eased to 51.3 in September from a 5-month high of 52.5 in August, below the flash reading of 51.6.
- Business activity and new orders grew at a slower pace, though new orders still rose for the 27th consecutive month.
- Employment increased for the 13th straight month, at the fastest pace since February, with backlogs of work rising to a 7-month high.
- Input cost inflation softened to a 6-month low but remained elevated, while output price inflation also eased from August.
- The broader Composite PMI, including manufacturing, fell to 52.3 in September from 53.5, marking its weakest level since May.
- Reader warns of potential financial crisis that could exceed 2008 Great Recession
- Loan officer rejected wealthy couples due to overspending concerns
- Warning about widespread financial risk in U.S. housing market
- President Trump promising $90 Medicare rebate checks before midterms
- Article examines hidden costs behind the healthcare policy
- Hong Kong's first five-year plan intentionally avoids setting overly rigid economic indicators.
- This strategy aims to prevent concerns about the city moving towards a planned economy.
- Constitutional affairs minister Janice Tse emphasized prioritizing target achievement over accountability for potential shortcomings.
Central Banks 14
- USD/JPY dipped toward 157.50 on BoJ Deputy Governor Uchida comments about AI demand shock
- Governor Ueda speaks Tuesday, first since September 18 hike to 1.25%
- Traders price about 1-in-4 chance of October 30 hike
- August wages forecast at 3.7% YoY vs 4.7% prior
- Standard Chartered expects MAS to raise SGD NEER slope to 1.5% from 1.25% in October
- Additional 25bps tightening expected, unwinding H1-2025 pre-emptive easing
- Inflation, upside price risks, firm growth cited as rationale for continued tightening
- Main risk is a close call with pause as alternative outcome
- Federal Reserve approved Isabella Bank Corp's application to acquire Grand River Commerce Inc
- Isabella Bank will also merge with Grand River Bank and operate at its locations
- The 8th ECONDAT conference will take place on October 5-6, 2026, at the Bank of Japan in Tokyo.
- The conference focuses on data science, nontraditional data, and AI techniques (ML, NLP) in macroeconomics and financial economics.
- It is organized by the Bank of Japan and co-organized with Banca d'Italia, Federal Reserve Board, Sveriges Riksbank, Bank of Canada, and CEBRA.
Energy/Oil 20
- OPEC+ agreed to keep oil production targets unchanged for November.
- The decision was in line with expectations that further policy adjustments are unlikely until next year.
- Many members are already pumping below their quotas, with exports averaging 60-80% of usual levels.
- Following the announcement, West Texas Intermediate (WTI) crude oil was down 0.59% at $89.85.
- EU methane regulation scheduled for January implementation
- Large energy exporters oppose the rule
- Brussels considering delay to ensure sufficient supply
- G7 releasing 100 million barrels of oil stocks over four months
- Substantial diesel release front-loaded within first 20 days
- WTI crude slumped to about $90 per barrel on news
- US gasoline and diesel prices also dropped
- Market viewed release as band-aid fix for broken fuel market
- Saudi Arabia and the UAE will assist Asian nations in accumulating oil reserves.
- Asia, highly dependent on oil imports, currently lacks sufficient strategic supplies.
- The two Middle Eastern producers are expected to expand oil exports to the region.
- They will also prioritize oil supplies to Asia during emergency situations.
- Singapore seeks nuclear power as energy solution due to Iran war disruptions
- Second-most densely populated country faces acute land scarcity for energy projects
- Energy-dense nuclear power seen as viable option given spatial constraints
- Natural gas futures settled up 1% to $3.066 per mmBtu
- Analysts anticipate smaller-than-usual builds in this week's EIA storage report
- Germany launching €2B program to evaluate sustainable aviation fuels
- Electric aviation advancing for short regional routes but long-haul still needs liquid fuels
- Question remains which sustainable fuels can scale at affordable prices
- $9.6 billion in upstream assets on offer for remainder of 2026 and 2027
- $6.7 billion in assets changed hands in 2025 under new strategic entry intent
- Market shifting from IOC non-core exits to competitive strategic acquisitions
Gold/Metals 16
- Gold slips to $4,132, down 0.27%, failing to hold $4,150 level
- US 10-year yield rises to 5.341%, DXY up 0.25% at 102.17
- Fed hold odds at 77% for October, but December hike odds at 88%
- Technical support at $4,100, YTD low at $3,941
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- World Bank Group providing $1.4B financing support for Chile's state-owned Codelco
- Financing structure seen as model for mineral-rich countries attracting private capital
- Hong Kong imported record 112.7 tonnes of Russian gold in first seven months of 2026
- Russian gold now accounts for ~15% of Hong Kong's non-monetary gold imports, up from 0.6% in 2021
- Western sanctions since 2022 shut Russia out of London market, rerouting flows to China/Asia
- China's PBOC and consumers buying gold aggressively; reserves rose 40+ tonnes in H1 2026
- Hong Kong competing with Singapore for hub supremacy, ~6 months ahead in infrastructure
- Veteran mining financier Frank Giustra says ordinary investors have largely sat out gold's rally
- Central banks keep buying gold on price dips, leaving room for another leg higher
- Deutsche Bank sees silver inventories rising and industrial demand declining
- Supply glut could emerge as soon as next year, pressuring spot prices
- Analysis projects potential surplus in 2027
- XAG/USD rebounds above $61, up 1.14% on the day
- RSI climbing toward neutral 50 level, signaling improving bullish momentum
- Break above $62 targets $64.12-$64.58 area (50/100-day SMAs), then $65.00
- Support levels: $60.00, then $59.69 (Oct 2 low)
- Gold prices declined amid strength in the US dollar
Crypto 35
- Payments infrastructure company Modern Treasury applying for federal approval for stablecoin custody
- Seeking limited-purpose national trust bank charter to offer fiat services for digital assets
- Part of broader push for crypto custody licensing in US regulatory framework
- Fairshake supporting 13 Democrats and 19 Republicans in November House races
- Six candidates receiving $1M each: French Hill, Bill Huizenga, Bryan Steil (R); Steven Horsford, Derek Tran, Janelle Bynum (D)
- Top targets are House Financial Services and Ways and Means Committee members
- Fairshake claims 53 wins out of 57 primary races, targeting 'largest pro-crypto caucus'
- Spending $30M to defeat former Senator Sherrod Brown in Ohio Senate race
- FinCEN withdrawing proposed rules on unhosted wallets and crypto mixers
- Part of Trump Administration's deregulatory agenda
- Rule withdrawal cited concerns about impacting legitimate activity
- Crypto Council for Innovation CEO says organization remains confident in OCC's approval of crypto charters
- Banks have filed lawsuit against OCC over crypto charters
- Some lawmakers have pushed back on the charters
Geopolitics 46
- Ethiopian federal forces and allied fighters have retaken Mekelle, Tigray's regional capital, following the TPLF's confirmed withdrawal.
- The development revives fears of prolonged violence, displacement, and economic hardship, reminiscent of the 2020-22 Tigray war that killed hundreds of thousands.
- The 2022 Pretoria agreement, which ended the previous war, is largely seen as having collapsed due to unresolved issues and renewed military tensions.
- Fighting has spread beyond Tigray, with explosions reported in Addis Ababa and a diplomatic rupture between Ethiopia and Eritrea, raising fears of a wider regional conflict.
- Residents in both Mekelle and Addis Ababa express deep concern over the return to full-scale war and its potential humanitarian and economic consequences.
- US moved all long-range B-1 bombers from RAF Fairford in England
- Trump says threat was linked to Iran
- Bombers redeployed to US home bases after terror attack probe
- Houthis claimed strikes on King Khalid International Airport in Riyadh
- Second operation targeted Aramco refinery in Rabigh, causing fire
- Third operation targeted Abha Airport, military base in Asir region
- WTI down 2.21% on the day at $88.35 at time of writing
- Starbucks opened two stores in Urumqi, Xinjiang through its Chinese partner Boyu Capital (60% stake)
- U.S. House Select Committee called it 'shocking and morally bankrupt,' demanded closure
- Boyu Capital is led by Alvin Jiang, grandson of former President Jiang Zemin
- Expansion marks test of U.S.-China business climate amid geopolitical tensions
- FBI arrested Zhang Wanying, 34-year-old Chinese American, at Los Angeles International Airport
- Charged with acting as unregistered agent for Chinese government
- Accused of surveilling family of Taiwanese leader William Lai Ching-te
- Arrest occurred days after President Xi's state visit to Washington
- Supreme Court shows skepticism toward oil industry efforts to block climate change lawsuits
- US abruptly pulled bombers from UK base
- New Trump Account rules will impact individual stock portfolios
- Abiy sworn in for second 5-year term, repeats demand for Red Sea port access
- Neighbors Egypt, Eritrea, Sudan, Somalia met and rejected Ethiopia's claims, saying coastal states govern the sea
- Ethiopia lost Red Sea access in 1993 when Eritrea became independent
- Tensions rise as Ethiopia battles Tigray forces; neighbors accused of backing opposition
- Brazil heading to fiercely contested presidential runoff
- Flavio Bolsonaro's right-wing movement made major Congressional gains
- Over 29 million voters abstained in first round
- President Lula da Silva faces uphill battle to win second term
- Israeli forces killed at least one Palestinian, injured several in West Bank incidents
- Vehicle ramming incident near Hebron left one dead, two seriously injured
- Sharp rise in violence ahead of Israeli elections later this month
- 66 Palestinians killed in 14,742 attacks since October 2023
- Turkey, Saudi Arabia, Pakistan agreed to trigger collective deterrence against Houthi attacks
- Emergency meeting held in Riyadh under the Mecca Defence Alliance
- Response targets Yemen's Houthi group attacks on Saudi Arabia
- Russian drone attack sank grain ship in Romania's Black Sea exclusive economic zone
- Two killed, 11 rescued; ship owned by Türkiye carrying corn
- Ukraine's Zelenskyy blamed Russia for the strike
- Latest in series of suspected Russian drone incursions into NATO member airspace
- International Criminal Court unsealed arrest warrants for four senior Taliban leaders
- Charges include crime against humanity of gender persecution against women, girls and LGBTQ community
- Warrants issued for Taliban supreme leader Hibatullah Akhundzada and Supreme Court head Abdul Hakim Haqqani
- Accusations cover period since Taliban seized power in 2021
- Yemeni government forces have initiated a new offensive.
- The objective is to reclaim all territories currently held by Iran-backed Houthi rebels.
- This marks a significant escalation in the ongoing conflict in Yemen.
- Myanmar military airstrikes killed at least 8 people in Rakhine State displacement camps
- AA claims separate attack on Sept 28 killed 50 people, wounded 58
- Myanmar forces relying heavily on air power as they lose ground to ethnic armed groups
- Nearly 3.8 million people remain displaced across Myanmar
- Renewed fighting in northern Ethiopia, four years after Tigray war ended
- Tensions rising with Eritrea and wider regional rivalries involving Egypt and Sudan
- Risk of conflict spreading beyond Ethiopia's borders
- Trump says he will pay for TV ads himself or with MAGA committee funds
- Pushback over taxpayer-funded television ads before November congressional elections
- Ethics experts and lawmakers from both parties criticized the ads
- DOJ seeking denaturalisation of Jinchao Wei (former Navy sailor) and Ping Li (Florida man)
- Both convicted in China-linked espionage and agent cases
- Part of 40 people in largest batch of denaturalisation filings under Trump administration
- Civil proceedings remain pending with no determination of liability
- Trump approval at 32% overall, down to 24% among Hispanic voters - lowest in either term
- Hispanic voters plan to vote 52% Democratic vs 26% Republican in November midterms
- Gains Trump made among Hispanic voters in 2024 have largely evaporated, Reuters-Ipsos poll shows
- Immigration enforcement cited as key source of tension with Hispanic voters
- Experts warn shrinking popularity could weigh down Republican candidates in key races
- Govt will not appeal Court of Appeal ruling that EIA approval for 12,000 flats on oldest golf course was unlawful
- Decision allows broader review of housing plans on the site
- Court found fatal flaws in environmental approval process
- Rep. Don Davis introduced 'No Betting on Your Own Race Act' to ban federal candidates from trading prediction market contracts on own elections
- Fine would be $10,000 or 3x net gain, whichever is larger
- Bill follows controversy where Republican opponent Laurie Buckhout settled with Kalshi for $2,600 after trading on her own candidacy
- Survey conducted between April 16 and June 26
- Mainland Chinese prefer coercion over military force for Taiwan reunification
- Opinion of US remains low but favor engaging with Washington on trade and security
- Trump says US prepared to help Russia with suspected pneumonic plague case
- 28-year-old lab technician Darya Shipilova died in Irkutsk, Siberia
- Russian authorities quarantine hospital, monitor ~200 contacts
- WHO says public health risk to general population appears low
- Xi Jinping's state visit to Washington included 21-gun salutes, B-2 bomber flyover
- Trump called summit a '12 out of 10' meeting
- Xi said everything was done to 'highest order of perfection'
- Visit featured elaborate pageantry amid underlying US-China tensions
- Bosnia-Herzegovina election results favor nationalist parties
- SNSD of Milorad Dodik declares victory in disputed election
- Key question remains whether coalition government can be formed
- Yemen's internationally recognized government launches operation to retake territory
- Houthis made significant territorial gains on Red Sea coast in past month
- Saudi Arabia, Turkey and Pakistan meet to discuss situation, joint defense pact being tested
- Indian authorities raided call centers in Pune and Patiala, finding ~220 workers suspected of defrauding Americans
- FBI linked India-based network to $48.7M in losses across 600+ American victims; one woman lost $1.7M
- Operations resemble conventional businesses with management, shifts, HR, quality control, and specialized roles
- Scammers use spoofed phone numbers, remote-access software, gift cards, crypto, and wire transfers to extract money
- Raid closures may not disrupt organizers who coordinate from outside India
- Released Syrian detainees report abuse including sleep deprivation, violent searches, dog attacks
- Dozens of other detainees remain in Israeli custody
- Mayor Galan called on Chinese-led consortium to add more workers to metro project stations
- Country's top auditor warned delays could push opening back to March 2028
- Project described as entering critical final stretch stage
Tech/AI 36
- Reflection AI unveils Beam, 501B parameter model with 23B active parameters
- Claims to match Chinese models like Z.ai's GLM-5.2 at 3-4x less inference compute
- Model has 1M token context window, trained on 23.8 trillion tokens
- Valued at $25B pre-money, has raised ~$4.7B from Nvidia, Sequoia, Lightspeed
- Secured $7B+ in compute deals through 2029 with SpaceX and Nebius for Nvidia GB300 chips
- Former Google DeepMind researcher Alex Turner warned 'misaligned AI' could become humanity's adversary
- Anthropic whistleblower Jacob Coxon said humanity will likely lose control to AI, potentially causing extinction
- Top AI labs including OpenAI, Anthropic, Google, Meta testified under oath at NYC Council hearing
- Council Speaker Menin criticized lack of direct answers on legal liability for AI harms
- SpaceXAI failed to appear despite subpoena, violating council order
- Former Anthropic researcher Jacob Coxon says AI companies don't fully control their models
- Coxon warns AI systems will soon be able to improve themselves, making human research redundant
- Speaking to NYC council, he says industry is pushing ahead too quickly
- Nokia CEO says data centers would be built 2x faster without supply constraints
- Supply constraints include memory chip and energy shortages
- AI infrastructure investments to total $10.3 trillion from 2025-2032
- Nokia stock up 130% over past year as 'picks and shovels' AI player
- CEO confident demand remains strong even without new frontier models for 3 years
- Analysts highlight Nvidia's cheap valuation
- Chip maker's central role in AI ecosystem cited as key driver
- AI chip startup receiving offers valued at $40-50B, just 2 months after $21B round
- Company has $1B in customer orders including from Jane Street
- 15% of 400-person workforce previously worked at Nvidia
- Operates 10MW data center in Silicon Valley, facility near TSMC in Taiwan
- Restricting AI while harnessing it for prosperity is a major 21st-century challenge.
- Preventing tech-driven catastrophe requires a quicker response than nuclear arms control efforts.
- US President Trump and Chinese President Xi Jinping agreed to further discuss AI risks at their Sept. 24 summit.
- The article draws parallels between the urgency of AI governance and the lessons from the Hiroshima and Nagasaki disasters.
- Google and four other organizations acknowledge MCP protocol vulnerabilities
- Attacks exploit trust gaps between AI agents to spread malicious instructions
- Researcher tested agents from Google, JP Morgan Chase, French government, US federal government
- MCP is standard for AI apps and agents to communicate within internal networks
- AI-enabled attacks identified as top cyber risk facing Thailand for next 2 years
- Thailand National Cyber Risk Assessment Report 2026 highlights ransomware, software vulnerabilities, phishing as major threats
- 1,651 cyber incidents recorded, 432 phishing cases, 531 malware cases
- Thailand's high-risk cyber exposure at 94.8% of total threats
- Enterprise tech moving beyond text-based generative AI toward autonomous systems
- Gartner identifies key trends: physical AI, agentic AI, spatial computing
- Unstructured data management and small language models gaining enterprise focus
- Real-world AI applications requiring 4-9 years of investment emerging
- 52% of enterprises cite AI security as top implementation barrier
- Cable groups notify FCC of lawsuit to block TV ownership rule repeal
- Larger broadcast groups will demand higher retransmission fees, raising bills
- Groups represent Comcast, Charter and other top cable providers
- Repeal allows broadcast station groups to exceed National Cap
- OpenAI adding invisible watermark to ChatGPT and Codex in EU to comply with AI Act
- Watermark subtly shapes word choices, detectable but not visible to readers
- Rolls out over coming weeks; API developers can enable it globally
- Replacing 10% of words with synonyms drops detection from 92% to 66%
- Anthropic previously faced backlash for global watermarking
- Menlo invested in AI coding startup Factory as part of its $5B valuation funding round
- Factory CEO alleged fired investor Chris Degnan shared confidential info with competitor Cognition
- Vinod Khosla called Factory a desperate 'struggling second tier competitor' in public dispute
- Menlo partner Matt Murphy known for early Anthropic bet, now backing Factory
- Factory dubbed 'next Anthropic' by some VCs; Menlo is not an investor in Cognition
- Norway proposes a temporary ban on AI glasses in selected public places, becoming the first major country to do so.
- The ban targets areas such as parks, beaches, schools, and kindergartens.
- The government will establish an expert group to develop permanent national rules for the technology.
- Digitalization Minister Torgeir Micaelsen expressed concerns about people being recorded without their knowledge.
- North Richland Hills demanded $2.3M for public records on Flock data
- City claimed searching ~1 terabyte would take 14 years of labor at $15/hour
- Flock is AI-enabled camera system tracking vehicles, facing bipartisan backlash
- New command-line tool 'RemoveMacAI' allows users to turn off Apple Intelligence with one click
- Tool is fully reversible and frees up to 12GB of storage (can exceed 30GB per The Verge)
- macOS 27 Golden Gate lacks built-in toggle to disable AI features
Companies 20
- EA bondholders alleged a $1.4 billion debt default
- Dispute over whether videogame maker must pay them off at a premium after going private
- This is the largest leveraged buyout of all time
- Federal lawsuit filed in Chicago alleging McDonald's used AI to coordinate prices across franchises
- Suit claims violations of US antitrust law through algorithm pricing
- Plaintiff seeks to represent potentially millions of customers
- McDonald's called allegations speculative, says franchisees set their own prices
- SpaceX shares rose almost 8% to highest since mid-June
- Morgan Stanley set $300 price target, ~75% upside, called stock 'cheap'
- Pentagon appointed Musk co-lead of Project Meridian defense initiative
- Stock up 58% from early August low
- Musk's net worth now ~$1.03 trillion per Forbes
- Revolut is emerging as a significant challenger to established European banks.
- The company's valuation is cited at $115 billion.
- Its growth signifies a shift in the European financial landscape.
- Lucid Q3 EV production dropped 54% to 2,954 vehicles, lowest since Q1 2025
- Delivered 3,806 EVs, roughly flat with Q2
- New CEO leading 'simplification' effort: 1,500 layoffs, $1.4 billion cost savings target
- Delayed third EV 'Cosmos' priced under $50,000
- Compared to rival Rivian's best quarter ever with ~20,000 vehicles shipped
- L'Oréal US subsidiary working with Weil Gotshal and Ducera
- Advisers addressing talc-related lawsuits
- Melius Research says Microsoft is a winning play for investors seeking safer AI exposure
- Stock comeback not close to being over, analyst claims
- Western Digital and Seagate shares bounced back
- Analysts say even if Toshiba doubles capacity, it has long way to catch up
- Lucid delivered 3,806 EVs in Q3, down 6.7% YoY; produced 2,954 vehicles
- Production cut from two shifts to one at Arizona plant amid 'operational reset'
- Shares closed up less than 1% at $4.17; stock down 60%+ this year
- CEO Napoli targeting $1.4B cash flow improvement, Q3 results due Nov 9
- DayOne Data Centers filed for IPO on Monday
- Plans to list on Nasdaq under symbol DODC
- Underwriters include Morgan Stanley, J.P. Morgan, BofA Securities, Citigroup
- Filing comes amid challenging IPO market due to elevated bond yields and interest rates
- Intel stock declined on reports TSMC may also be involved in Terafab chip manufacturing
- Musk indicated discussions with TSMC are ongoing
- TSMC could become a competitor for Intel in the project
- New economic study improved forecast returns for Nevada North lithium project
- Study used 8% discount rate
- Project expenses were reduced according to the study
- Critical Metals won Greenland government approval for mining and closure plans
- Approval clears major hurdle toward construction
- Tanbreez is located in southern Greenland
- Tanzania renewed Barrick Mining's North Mara gold mine licences for 15 years
- Company weighing an expansion of the mine
- North Mara is a key gold operation for Barrick in East Africa
- TNT Sports chairman/CEO Luis Silberwasser departing as Paramount merges with Skydance/WBD
- CBS Sports chief David Berson to lead combined global sports group
- Merger expected to close October 6; new company to be named Skydance
- Combined entity holds major sports rights including NFL, March Madness, NHL, MLB, The Masters
- Berson faces challenge of managing $80 billion debt while deciding which sports rights to retain
- Sold prime Tsim Sha Tsui shop portfolio after 40+ years
- Got HK$256.8 million despite 40% below asking price
- Profit ~HK$237 million amid rising rates, weak retail market
- James Dibbo, 56, appointed CFO effective Oct 26, succeeding Julia Donnelly
- Previously led finance for Amazon's Ads, Prime Video and Amazon MGM Studios businesses
- Pinterest shares down ~1% in extended trading
- Company forecast slower Q3 revenue growth amid competition from Meta's Instagram and Facebook
- KKR acquiring Gen II, a private-capital fund administrator
- Private-capital funds have proliferated as investors seek alternatives to public markets
- Cambria Gold Mines targeting Premier gold mill restart in late 2027
- Restart delayed by insufficient underground feed
- Premier mill is in northern British Columbia
- Aselsan, Turkey's largest state-linked defense company, is pursuing partnerships with Japanese firms.
- Key areas for cooperation include underwater drones and air defense systems.
- This initiative is part of Aselsan's strategy to expand into Asian markets.
- The move comes amid a perceived worsening security environment in the region.
- Aselsan's CEO emphasizes political alignment between Turkey and Japan as a basis for closer cooperation.
Thai Markets 9
- Thai activists are protesting against foreign companies, including those from China and Israel, for allegedly circumventing ownership rules.
- The protests are fueled by Thailand's sluggish economic growth, potentially signaling a shift from its traditionally open stance on foreign business.
- The Thai government is considering a crackdown on ownership loopholes, which could widen the scope of the issue.
- Long-term resident visas generated 43 billion baht in economic value over past four years
- Board of Investment approved 21,010 LTR visas since 2022
- Top applicant categories: 1,977 high-skilled professionals, 1,340 Thailand-workplace, 737 investors
- Target: attract 1 million affluent foreigners and talent to boost Thai economy
- LTR visa program focuses on attracting talent, investment, and skilled workers
- Thailand unlikely to reach 7 million tonne annual export target
- China, biggest buyer, significantly reduced rice purchases
- Exports to Indonesia and Philippines also falling
- Paddy rice prices down 5% year-on-year
- More than 1,000 condominium units delayed in Bangkok due to floods
- Floods have weakened homebuyer confidence
- Savills Thailand reports developers postponing launches
- Listed insurance companies expected to suffer most prolonged earnings impact from flooding
- Healthcare, food, and commerce among fastest-recovering sectors per Bualuang Securities
- Thai insurance sector trails PDG by 1%, TES by 2%
- Siam Piwat Group announces Iconphuket, a 10-billion-baht project
- Project positioned as new landmark of southern Thailand
- Joint venture includes Iconsiam and Siam Premium Outlets Bangkok
- Development to span 41 rai, targeting Phuket's luxury tourism sector
- AWC revising five-year 100-billion-baht investment plan from 2025
- Launching REIT with five assets worth 48 billion baht
- Company targets 80% stake in TIA and 60% in FilA, 2-3 years timeline
- AWC to allocate 80% of free cash flow to growth and new projects
- ThaiBMA sees little risk of spillover from rising US bond yields
- Differences in economic conditions between US and Thailand cited as buffer
- Thai bond market has low exposure to global bonds (3.9% of assets)
- Thai Baht has depreciated moderately, maintaining competitiveness
Other 11
- Jeffrey Archer died suddenly at age 86
- Sold over 300 million copies of his novels
- Served as Conservative MP, convicted of perjury in 2001
- Final novel 'Adam and Eve' was due to be published
- Supreme Court set to hear case from investors claiming their 401(k) plans underperformed due to excessive risk hedging
- Case involves investors seeking legal recourse for lower returns in retirement accounts
- Investors argue plan administrators failed to act in participants' best interests
- Protesters smashed glass door at Cornell's Day Hall
- Student groups demand abolition of Greek life, expulsion of Chi Phi members
- Civil lawsuit alleges gang rape at fraternity Chi Phi in October 2024
- Premier League viewership among 18-34 year olds up 20% post-World Cup, per Nielsen Sports
- US broadcasters averaging 500K viewers per game, up 3% this season
- Tottenham vs Newcastle on Aug 29 was most-watched with just over 1M US viewers
- MLS viewership also rose 23% among 16-34 year olds ahead of World Cup
- World Cup peaked at 87M fans in July, with 44% female viewership
- Daniil Medvedev disqualified from China Open semifinal
- Hit ball into stands striking a spectator
- Djokovic advanced to final
- Scientists susceptible to groupthink like anyone else
- Stifling dissent in scientific communities can produce disasters
- Woman in 80s fell down basement stairs
- Developed pleural effusion compressing her lungs
- Made breathing difficult
- France overturned 1-0 deficit with four goals in final 15 minutes
- Substitutes Desire Doue, Rayan Cherki and Michael Olise (brace) scored all goals
- France sit top of Group A1 with 10 points, three ahead of Italy and four clear of Belgium
- Caleb Flynn, 40, former Ohio music pastor, sentenced to life without parole
- Convicted of murdering wife Ashley Flynn, 37, while having an affair
- Flynn staged fake home invasion in February after shooting his wife
- Claimed wife was killed by a burglar
- Sean Boyd founded Agnico Eagle Mines and received Northern Miner award
- Paul Penna first met Boyd in 1983 when he was a young auditor
- Stephen Schwarzman attributes his life's trajectory to his time at Yale University.
- He emphasizes Yale's foundational role in his personal and professional development.
- Schwarzman's reflection highlights the transformative impact of his university experience.
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