Lula da Silva defeats Flavio Bolsonaro to win Brazil’s presidential election, securing a record fourth term. Bolsonaro says he will challenge the election results, sparking market concerns. Brazilian stocks plunge 27% in premarket trading of New York ETFs. #巴西政治 #MarketReaction
Meta plans to raise up to $95 billion in equity to support AI spending, including $35 billion in Class A common stock and $12.5 billion in mandatory convertible preferred stock, as well as a $60 billion market program for non-voting Class C shares beginning in the first quarter of 2027. Meta shares rise 2.4% premarket. #Meta
Defense officials from Saudi Arabia, Pakistan, and Turkey will travel to Tehran on Monday to discuss regional security challenges. Al Jazeera
Two U.S. officials disclosed that U.S. forces in the Middle East are prepared to take new, potentially significant military action against Iran within 96 hours of receiving an order from President Donald Trump. CNN
On October 23, an oil tanker transiting the Strait of Hormuz was struck by an unknown object, disabling the vessel. UK Maritime Trade Operations
The $3.5 trillion sell-off in Chinese stocks shows no sign of ending, as investors worry about the government’s lack of urgency in stimulating the economy.
The EU plans to take measures to reduce imports of goods from China, including chemicals, furniture, and machinery. The measures could be implemented as early as the first quarter.
The Dutch government plans to cut 25,000 civil service jobs through AI-driven efficiency measures, aiming to save €3.5 billion a year.
President Donald Trump predicted at a political rally on Sunday that the trade dispute with Canada would be resolved “soon.” Reuters
French assets rebound after avoiding a Moody’s downgrade and a weekend without major violence.
Volkswagen announced plans to build a $4 billion Audi factory in Georgia. Trump pledged to announce further economic measures but has failed to lower the cost of living, putting pressure on Republicans ahead of the midterm elections.
EQT agreed to acquire Range Resources in an all-stock deal, with each Range share to be exchanged for 0.987 EQT shares. The combined company will have an enterprise value of more than $50 billion. RRC rises 14% in premarket trading, while EQT falls 4.2%.
On Friday, the average yield on CCC-rated junk bonds topped 16% for the first time since 2020. Last week’s 1.6% decline was the largest in 18 months.
HSBC strategists shifted their position on developed-market government bonds from maximum underweight to overweight, and their equity position from maximum overweight to neutral.
Germany’s Ifo Business Climate Index rose to 90.2 in October, improving for a sixth consecutive month.
The People’s Bank of China has established liquidity support measures for non-bank bond investors, creating a swap facility for large-scale bond redemptions by non-banks.
Elon Musk said SpaceX has secured a $40 billion debt deal to pay for the chips needed to support its AI ambitions.
Instacart is in talks with potential buyers and is considering a sale. The Information
American Express plans to cut 5% of its workforce as transaction volumes fall short of expectations.
U.S. President Trump posted that Libya cannot continue to serve as a corridor for illegal immigration, and that the United States is firmly committed to strengthening bilateral relations. Truth Social
Goldman Sachs expects the Fed to pause rate hikes at its October meeting and raise rates again in December; JPMorgan’s Feroli expects a pause in October, with two hawkish dissents. GIR / JPM
Meta plans to raise up to $95 billion in equity to support AI spending, including $35 billion in Class A common stock and $12.5 billion in mandatory convertible preferred stock, as well as a $60 billion market program for non-voting Class C shares beginning in the first quarter of 2027. Meta shares rise 2.4% premarket. #Meta
Defense officials from Saudi Arabia, Pakistan, and Turkey will travel to Tehran on Monday to discuss regional security challenges. Al Jazeera
Two U.S. officials disclosed that U.S. forces in the Middle East are prepared to take new, potentially significant military action against Iran within 96 hours of receiving an order from President Donald Trump. CNN
On October 23, an oil tanker transiting the Strait of Hormuz was struck by an unknown object, disabling the vessel. UK Maritime Trade Operations
The $3.5 trillion sell-off in Chinese stocks shows no sign of ending, as investors worry about the government’s lack of urgency in stimulating the economy.
The EU plans to take measures to reduce imports of goods from China, including chemicals, furniture, and machinery. The measures could be implemented as early as the first quarter.
The Dutch government plans to cut 25,000 civil service jobs through AI-driven efficiency measures, aiming to save €3.5 billion a year.
President Donald Trump predicted at a political rally on Sunday that the trade dispute with Canada would be resolved “soon.” Reuters
French assets rebound after avoiding a Moody’s downgrade and a weekend without major violence.
Volkswagen announced plans to build a $4 billion Audi factory in Georgia. Trump pledged to announce further economic measures but has failed to lower the cost of living, putting pressure on Republicans ahead of the midterm elections.
EQT agreed to acquire Range Resources in an all-stock deal, with each Range share to be exchanged for 0.987 EQT shares. The combined company will have an enterprise value of more than $50 billion. RRC rises 14% in premarket trading, while EQT falls 4.2%.
On Friday, the average yield on CCC-rated junk bonds topped 16% for the first time since 2020. Last week’s 1.6% decline was the largest in 18 months.
HSBC strategists shifted their position on developed-market government bonds from maximum underweight to overweight, and their equity position from maximum overweight to neutral.
Germany’s Ifo Business Climate Index rose to 90.2 in October, improving for a sixth consecutive month.
The People’s Bank of China has established liquidity support measures for non-bank bond investors, creating a swap facility for large-scale bond redemptions by non-banks.
Elon Musk said SpaceX has secured a $40 billion debt deal to pay for the chips needed to support its AI ambitions.
Instacart is in talks with potential buyers and is considering a sale. The Information
American Express plans to cut 5% of its workforce as transaction volumes fall short of expectations.
U.S. President Trump posted that Libya cannot continue to serve as a corridor for illegal immigration, and that the United States is firmly committed to strengthening bilateral relations. Truth Social
Goldman Sachs expects the Fed to pause rate hikes at its October meeting and raise rates again in December; JPMorgan’s Feroli expects a pause in October, with two hawkish dissents. GIR / JPM