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Markets opened with risk-on tone as hopes for eased U.S.-China tensions and Nvidia-led AI gains offset regional bank jitters. S&P 500 and Nasdaq futures were higher, the Dow gained on industrials and miners, while volatility ticked up after a major AWS outage and China’s slower Q3 GDP; tech and energy led intraday moves.
A widespread Amazon Web Services outage disrupted major websites and apps across the US-East region, knocking offline consumer platforms and enterprise services. AWS later reported recovery signs as companies scrambled to restore operations and assess cloud resilience.
4.8% – China’s Q3 annual GDP growth, the weakest pace in a year.
China reported a slowdown in third-quarter growth to roughly 4.8%, underscoring strains from tariffs, property weakness and cooling domestic demand. The data intensifies pressure on Beijing to consider stimulus and shapes investor expectations ahead of US-China talks.
Kering agreed to sell its luxury beauty portfolio to L’Oréal in a multibillion-euro deal as the fashion group refocuses on core brands and cuts debt. The transaction reshapes the high-end beauty landscape and triggered a market move in luxury stocks.
Apple: iPhone 17 outsells predecessor by 14%
Early sales data show iPhone 17 outpacing the iPhone 16 by about 14% in the US and China, providing a near-term revenue boost for Apple and support for supplier chains.
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Rare-earths have become a new flashpoint as policy moves and export controls escalate tensions between the US and China. Markets and strategists warn the supply squeeze could lift prices but also invite policy countermeasures and long-term reshoring efforts.
The US government shutdown entered a prolonged phase with multiple Senate votes failing to resolve funding, raising questions about federal projects and market confidence. Lawmakers warned of cascading operational risks as the impasse continued into a potential record length.
CoreWeave’s $5bn AI gamble falters – growth hits a wall
CoreWeave’s rapid expansion into AI infrastructure is stalling as capacity, competition and execution issues collide, leaving a $5 billion investment path with mounting operational risk.
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A fragile Gaza ceasefire faced immediate strain as Israel and Hamas traded accusations and strikes, threatening a rapid return to wider conflict. International mediators and regional backers scrambled to preserve a truce and avert humanitarian collapse.
Markets reacted to a softer US trade stance as talks hinted at easing tensions with China, lifting futures and risk appetite. Investors parsed tariff rhetoric, upcoming earnings and delayed inflation data for direction into the week.
China tightened controls on rare-earth exports and reshuffled trade negotiators; the US pursues tariff and critical-minerals measures while Washington faces shutdown-driven funding constraints that could delay federal contracts.
Crypto flows showed strain as spot Bitcoin ETFs recorded large outflows while price action rebounded on macro hopes. Traders and institutions remain fixated on macro catalysts, ETF flows and regulatory signals for near-term direction.
Nvidia and TSMC marked a milestone by making the first U.S.-built AI chip, highlighting the push to diversify supply chains and scale domestic AI manufacturing. The move has implications for semiconductor policy, export controls and firm-level competition.
“AI risk is top of our list when evaluating deals.”
— Jonathan Gray, Blackstone president
BNP Paribas suffered market fallout after a U.S. jury verdict tied to Sudan-era claims, sending shares sharply lower and reigniting litigation risk for global banks. Investors weighed the hit against the bank’s broader legal exposure and capital buffers.
Merck broke ground on a $3 billion Virginia manufacturing facility as part of a larger U.S. investment push to boost pharma production and secure supply chains. The project underscores corporate shifts to shore up domestic capacity amid geopolitical and trade risks.
Cleveland-Cliffs signalled a move into rare earths as the steelmaker rides tariff-driven steel demand, boosting its shares and highlighting strategic diversification. The push reflects resource plays tied to reshoring and critical-minerals policy.
The U.S. opened probes into Waymo after incidents involving robotaxis near school buses, escalating scrutiny of autonomous vehicle safety. Regulators signalled tougher oversight as companies scale testing and commercial deployments.
Defence spending and tech contracts accelerated as L3Harris secured a $2.26bn air-defence deal with South Korea while Seoul expands missile capacity. The moves underline regional arms modernisation and export opportunities for defence contractors.
Holcim agreed to buy German walling firm Xella to broaden building-materials capabilities and accelerate consolidation in Europe’s construction sector. The deal highlights M&A activity as firms seek scale amid slower construction demand.
Tech privacy and data policy tensions flared as Amazon’s Ring expanded police access to footage while Google quietly wound down its Privacy Sandbox project. The moves deepen regulatory and consumer debates over surveillance, data control and platform responsibilities.
Macro signals point to recession risk in the U.S. even as markets bet on eventual rate cuts; strategists warn of dollar weakness and policy uncertainty. Investors watch the data vacuum, Fed pricing, and credit stress for near-term market direction.
A cargo Boeing 747 skidded off Hong Kong’s runway into the sea, killing two ground crew and disrupting airport operations. The accident raises questions about cargo safety, airport resilience and supply-chain knock-on effects in a key logistics hub.
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