China's Premier Signals Deeper Iran Ties as US Sanctions Bite

Riyadh calling off the in-person Future Investment Initiative signals the Houthi threat is now severe enough to keep global dealmakers out of the kingdom, and that freezes the Gulf capital pipeline Wall Street has been courting.

SAUDI ARABIA TO POSTPONE IN-PERSON ‘DAVOS IN THE DESERT’ EVENT AFTER HOUTHI ATTACKS - FT

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A record 43% of builders are discounting, which means margin compression is already showing up across homebuilders and the suppliers selling into them.

U.S. HOUSING MARKET CONFIDENCE HITS 14-YEAR LOW U.S. homebuilder sentiment fell to 29 in October, its lowest since June 2012, as mortgage rates climbed above 7%. A record-high 43% of builders cut prices, with average discounts of 6%, while nearly two-thirds offered sales

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Russia's foreign minister pushing to reopen Hormuz and restart Yemen talks is the first de-escalation signal since tanker attacks began rerouting Gulf shipping, and any easing drains the war premium out of crude and tanker rates.

*LAVROV CALLS FOR RESTORING FREEDOM OF NAVIGATION IN HORMUZ *LAVROV URGES RETURN TO PRE-CRISIS MIDEAST CONDITIONS *LAVROV CALLS FOR RESUMPTION OF YEMEN NEGOTIATIONS

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Buying into the worst crash day in market history was worth 698 percentage points of extra return versus buying three days earlier, a reminder of what panic selling costs on the 39th anniversary.

S&P 500 from the close on 10/16/1987 (pre-crash) through Friday: +2,609% (8.82% annualized). From the Black Monday close on 10/19/87: +3,307% (9.46% annualized). Three days, 698%.

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Bank stocks are bleeding through a solid loan-growth quarter, which means the market is pricing credit risk over earnings. The last time the group strung together six down weeks, 2008 was underway.

TRENDING: The KBW Bank Index is down 13% since its August all-time high after falling for six weeks in its worst losing streak since 2008

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December 3 gives shareholders a direct vote on Musk's board seat alongside Denholm and Straubel, plus 2025 executive pay, making it the next real governance test for the stock.

Tesla has officially announced that it will hold its annual shareholder meeting on December 3, 2026. There are three items up for a vote: • Re-electing Elon Musk, Robyn Denholm and JB Straubel to the board for three-year terms. • A non-binding say-on-pay vote on 2025 executive https://t.co/v4JpVZlAb3

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A giveaway on that scale would hand millions of new retail holders a stake in SpaceX right as it readies an IPO priced at $135 a share. Terms, mechanics and verification are all still missing, so treat it as a claim rather than a plan.

BREAKING: Elon Musk pledged to give SpaceX shares to every kid in America starting next year

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A federal ban on DeepSeek hands US model vendors and government IT integrators a walled-off slice of agency AI budgets, and signals where the next China tech restrictions land.

TRUMP ADMINISTRATION REMOVING CHINESE AI DEEPSEEK FROM CIVILIAN GOVERNMENT AGENCY IT SYSTEMS, BARRING PURCHASE OF DEEPSEEK RELATED PRODUCTS BY GOVERNMENT AGENCIES -- NOTICE

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Merritt pegs Musk's pledge at $10.5 billion of SpaceX stock spread across 72 million American kids, routed through Trump Accounts. That turns retail access to SpaceX into a policy question.

Elon Musk to donate one @SpaceX share to ~72 million kids in America in 2027, currently valued at $10.5 billion, presumably through Trump Accounts. Every kid in America will then have a direct stake in a company whose mission is the most ambitious in human history: to make life https://t.co/9HWXANAFdI https://t.co/1CY1gqLix3 [Quoted @elonmusk]: Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many.

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With traders assigning just a 20% chance to an October 28 hike, BofA's call leaves stocks, bonds and the dollar badly positioned if it lands.

BANK OF AMERICA STILL EXPECTS AN OCTOBER FED RATE HIKE Bank of America maintains its forecast for a Fed rate hike on October 28, despite markets pricing just a 20% probability. BofA warns that persistent inflation and strong economic activity could push core PCE inflation to

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At 3.1%, Canadian inflation is back above the Bank of Canada's 2% target, which takes near-term rate cuts off the table and puts the loonie, Canadian bonds and rate-sensitive TSX names in play.

JUST IN: Canada's inflation rises to 3.1% https://t.co/5JGemsPyAA

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