CWS Market Review – November 10, 2026
Posted by Eddy Elfenbein on November 10th, 2026 at 4:07 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

CPI Comes in Higher than Expected

This morning, the Bureau of Labor Statistics said that inflation increased by 0.4% last month. That was 0.1% higher than expected, but it’s better than September’s increase of 0.6%.

The core rate, which doesn’t include food or energy costs, rose by 0.3% which was also 0.1% more than expected. That’s unchanged from the September report. The report didn’t have year-over-year comparisons due to last year’s government shutdown.

The takeaway is that inflation has been beaten down, but it’s still a problem. Here’s a look at inflation:

Real earnings didn’t increase at all. In other words, inflation ate up the entire gain for workers. Energy costs were up 0.7%, and gasoline was up a full 1%.

Here are some details from the report:

“Food costs accelerated 0.5%, pushed higher by increases of 1% for snacks, 0.9% for beef and 0.5% for meats, poultry, fish and eggs. Transportation services jumped 0.8%. New vehicle prices increased 0.2% but used cars and trucks fell 1.2%.

Shelter costs were higher by 0.3%, which the BLS said accounted for more than 30% of the headline increase.

Apparel, a tariff-sensitive sector, rose just 0.1% though medical care commodities prices increased 0.5%. Airline fares accelerated 0.4%.”

Today’s report is more ammo for the interest rate hawks who want to raise rates. At the Fed’s last meeting, the central bank voted 10 to 2 to keep rates at the range of 3.75% to 4%. The two dissenting votes wanted to hike rates immediately. They may soon get their wish.

In the trading pits, traders pushed expectations for a December hike to 100%. Fed Governor Christopher Waller said that a rate hike next month is likely. He even said that a 0.5% increase is on the table. That’s not extreme. Traders think there’s an 11% chance of a 50-point hike.

My view is that the Fed will raise rates by 0.25% next month and then raise again by 0.25% in January or March. Traders think that the Fed will raise three times by June. That could be true, but it’s a little early to say.

What do higher rates mean for us? In general, higher interest rates are a net negative for stocks. Higher yields are stiff competition against stocks. Higher yields also impact consumers’ pocketbooks. They make it hard for companies to raise money.

Short-term rates often rise when defensive stocks lead the market. In fact, defensive stocks started to lead the market several weeks ago. I suspect that this rotation has just begun.

Tuesday’s CPI report comes shortly after last week’s jobs report. On Friday, the government said that the U.S. economy created 165,000 net new jobs last month. Wall Street had been expecting a gain of 59,000. The unemployment rate fell to 4.1%. The numbers for August and September were also revised higher.

Average hourly earnings rose by 0.4% which was higher than expected (and again, eaten up by inflation). Over the last year, wages are up by 3.1%. The broader U-6 rate rose by 0.3% to 7.9%.

Now let’s look at one of the more unusual stories that’s gripped Wall Street in recent days.

Nvidia CEO Admits Affair with Chinese Spy

This weekend, Jensen Huang, the CEO of Nvidia (NVDA), acknowledged to his board that he had intimate relations with a business executive.

I’ll confess that I always feel a bit queasy writing about such events. After all, people’s private lives, especially their marital issues, are their own business. In this case, however, the details are a bit more complicated since U.S. intelligence has determined that the business executive was a Chinese spy.

Well, that kinda changes things.

Of course, the issue is complicated because Huang is one of the richest people in the world, and Nvidia is one of the most valuable companies in the world. Nvidia is at the heart of the AI revolution.

The company is currently worth more than $4 trillion, trailing only Apple. Mr. Huang will stay on as CEO. Nvidia has an unusual business structure in that Mr. Huang directly controls a huge part of the business. Undoubtedly, he’s a brilliant guy and he’s been a tremendous leader. He skipped two grades in high school.

Over the weekend, Jensen Huang wrote a message to the entire company. In it, he said, “there is no excuse for what I did. I am deeply sorry.” Nvidia has said it has no reason to believe that national security has been compromised, but the company is investigating the issue, and it is cooperating with the government.

I assume we’ll get more details soon, but apparently, the government found that the business executive, Alice Huang, had been sending information directly to Beijing. The spy allegations were first reported last month. At the time, he said there was nothing unusual about their relationship. We know Ms. Huang got info from Jensen Huang, but the big question is, how far did she go?

The chip buyer was Ms. Huang or Huang Le, whose biography said she worked in China as a TV reporter before becoming a top executive at a Singapore-based data center company that had become one of Nvidia’s biggest customers in Southeast Asia. It bought more than $4.8 billion in chips since June 2024.

Nvidia has continued doing business with Ms. Huang’s company, Megaspeed, even after The Times reported last year that the Commerce Department was investigating whether the company was helping China smuggle restricted A.I. chips. (Mr. Huang and Ms. Huang are not related.)

The U.S. government had Ms. Huang under surveillance for over a year, and they knew it was an intimate relationship, despite what Mr. Huang claimed. The Chinese Ministry of State Security recruited Ms. Huang and she was to target Mr. Huang. The U.S. government has limited what AI chips can be sold to China. It appears that the Trump administration approved chip sales to a Chinese firm that may not exist.

Shares of Nvidia dropped at Monday’s open despite the overall tech sector rallying. At its low on Monday, Nvidia had shed $400 billion in market value. By the closing bell, NVDA traded down by 4.4%.

The shares dropped another 5.5% today on the news that the Chinese spy link aided China with $7.5 billion in chip shipments. The U.S. government identified Ms. Huang as a spy three years ago. The AI sector was already nervous, and this news certainly doesn’t help. Since October 6, the Nasdaq 100 has lost $5 trillion. I suspect this is another reason that defensive stocks will continue to prosper.

That’s all for now. There aren’t many economic reports this week, but the retail sales report will be out next Tuesday. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: November 10, 2026
Posted by Eddy Elfenbein on November 10th, 2026 at 7:01 am

China Isn’t Bent on World Domination. It Just Wants to Restore ‘Order’

Beijing Doesn’t Need to Invade Taiwan to Control It

The War Putin Wanted to Keep Away Is Coming Home to Russia

Why U.S. Business Deals Are Unlikely to Get Putin to Give Any Ground

Brent Crude Falls Below $90 on Iran War De-Escalation Optimism

Exxon Strikes Preliminary Deal to Return to Venezuela

Voters Punished Broken Promises, Customers Will Do the Same

Japan’s Trading Houses Thrive in a World Scrambling for Resources

Fed’s Waller Backs December Rate Hike, Open to Larger Move

Inflation Data to Test Limits of Treasury Rally After Haven Bid

The Real Social Security “Crisis”: More Tax Revenue for Congress

How ‘Buy American’ Rules Are Slowing Affordable Housing Construction

The Pitch that Backfired on Homebuyers: ‘Marry the House, Date the Rate’

UBS, Europe’s Biggest Stock Bull, Sees 13% Gain By End of 2027

Wall Street Bonuses Projected to Climb Before Prospects Weaken

The Mystery Behind a 50-Year-Old Factory Part Flying Off the Shelves

I Am a Silicon Valley Pioneer. We Are Sabotaging Ourselves

Anthropic Targets $1.4 Trillion Valuation in Blockbuster IPO

Anthropic Filing Snafu Jolts Investors in Run-Up to Mega IPO

Only $1.1 Trillion for the Anthropic IPO? Just Take It

Jensen Huang’s 700,000% Return Magnifies Nvidia Succession Crisis

Jensen Huang Doesn’t Believe in Succession Planning. It’s Become a Big Risk for Nvidia

Jensen Huang Should Have Known Better

Nvidia Scandal Creates Risk for Entire AI Industry, Not Just CEO

Musk Drove the Cybertruck and Tesla’s EV Ambitions Off a Cliff

American Carmakers Have All But Abandoned Gas-Powered Cars

‘We Used to Be a Wealthy City’: Auto Woes Slam German Towns

Measles Forges a Deadly Trail Across America, Exposing Fractured Health System

How Target Planned for Brian Cornell’s Successor

Who Put Pickles and Protein Powder in My Advent Calendar?

Mars Invests $60 Million to Expand Tru Fru Manufacturing in Utah

Swiss Brand On’s Outlook Disappoints After Tariff Refunds

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Morning News: November 9, 2026
Posted by Eddy Elfenbein on November 9th, 2026 at 7:07 am

Trump’s Weakness and Overtures to Russia Put Ukraine on Edge

Rubio Sees No Iran Breakthrough as Trump Downplays Strikes

Trump’s $1.5 Trillion Defense Budget to Be Blocked by Democrats

Trump’s Congeniality Didn’t Last the Weekend. Buckle Up

Chinese Banks Boost Dollar Deposit Rates, Sources Say, as Beijing Seeks To Smooth Yuan Rally

Japan Spent Record $50 Billion in Single Day to Bolster Yen

For Trump’s Fed Ambitions, a Democratic Senate Poses the Biggest Hurdle Yet

Milton Friedman Was Incorrect About the Fed. November 4 Shows Why

U.S., Eurozone Bond Yields Turn Higher as Investors Shift Focus Back to Data

On Paper, Americans Have Never Been Richer. But They’re Pessimistic About Their Personal Finances

Treasury Rally Gets New Boost as Election Hammers AI Trade

Hedge Funds Dump Tech Stocks at One of Fastest Paces on Record

AI’s Giant Fundraisers Test the Market After Midterm Rout

American Banking’s Crypto-Phobic Berlin Wall

Coinbase Gets Final Regulatory Stamp for Trust-Bank Charter

How a Bank Implosion in Paraguay Ensnared a President

Beware the Influence of Financial Giants

The Gambling App Playbook for Bankrupting Young Men

A Case for Giving the Jones Act a Two-Year Time Out

Weil Gotshal Was Profitable. But Not Profitable Enough.

Nvidia Shares Drop After CEO Huang’s Affair Triggers Board Probe

Nvidia’s Board Investigates Reports That CEO Was Spying Target After Affair

Is Jensen Huang Too Powerful to Be Punished by Nvidia?

Jensen Huang Is Bigger Than Nvidia — And It’s a Problem

Nvidia’s Data Center Vision Spurs Race to Reinvent Electric Transformers

AI Agents Are a Solution Looking for a Problem

Musk Says Tesla to Return Cybertruck Deposit to ‘Lot of People

Vineyards in Chile Sell Land, Swap Crops and Go Luxe as Demand Fades

Americans Hunt for Holiday Deals That Stay in Their Own Closet

Reality TV’s Newest Viewers Are Here to Make Money

The World Can’t Get Enough Anime. Can Japan Cash In on Its Success?

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Morning News: November 6, 2026
Posted by Eddy Elfenbein on November 6th, 2026 at 7:02 am

China’s Extraordinary Path to Power

The Negotiators Who Brought China Into the World Economic Order

Why China Uses a ‘National Team’ to Influence Trading

Eurozone Retail Sales Slump as Energy Shock Hits Confidence

Oil’s Plunge Below $100 Doesn’t Mean Markets Are Out of Jeopardy

US Allies Need a Plan for a Lame-Duck Trump

Stable Labor Market to Keep Fed on Track to Raise Rates Gradually

US Treasury Traders Make Bullish Bets Ahead of Jobs Report

Bitcoin Selloff Eases as Investors Explore Cautious Recovery

Stocks Bounce Back in Another Day of Dizzying Volatility

The Hot New Place to Bet on Stocks Is a Health Savings Account

Fast-Money Systematic Funds Stoked $2.3 Trillion Tech-Stock Rout

Wall Street Peers into Abyss of AI Trade as Midterms Expose Risk

Washington’s Stock Portfolio Needs a Board and a Ledger

Trump Media’s Investors Lost $2.2 Billion While Trump Holds $460 Million Stake

Hackers Paid $15 to Drain $2.5 Billion From Binance in One Hit

Why Investors Are Searching for Hope in Home Builders

Data-Center Pullback in US May Shield Real Economy From AI Bubble

Buffett and Munger Would Know How to Invest in AI

‘What Everybody Is Concerned About Is Cyber’

Google’s $500 Billion Lesson for Antitrust Officials

Apple’s iPhones Are About the U.S. as Much as the World

Tesla’s Polarizing Cybertruck to Wind Down Production Amid Slow Sales

Zipline Valuation Soars as Drone Startup Raises Funds, Expands Walmart Deal

Lilly, Hims Join Forces to Reach More Obesity Drug Patients

Moderna Boosts Revenue Guidance on Covid Vaccine Sales

Humana Lifts Outlook as Quarterly Revenue Jumps

Moscow Seizes Japan Tobacco’s Russia Factories

Under Armour Sinks After Cut to Margin Forecast Hits Turnaround

Outback Steakhouse Owner Raises Profit Outlook as Chain’s Turnaround Continues

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Morning News: November 5, 2026
Posted by Eddy Elfenbein on November 5th, 2026 at 7:06 am

Bank of England Raises Rates as Iran War Pushes Up Prices

Oil Climbs From Two-Month Low as Traders Parse Iran War Outlook

When Democrats Run Against Democrats, Democrats Always Win

A Cornered Trump Is a More Volatile Trump

The Elon Musk Era of Politics Is Just Beginning

Sahm: AI Is Coming for the Economists in the White House

In Victory, Democrats See Economic Mandate to Cut Costs and Curtail Trump

A Nobel-Winning Economist Has a Warning for Democrats

In Ballot Items, Fiscal Conservatism Beats Socialism

Trump’s Trouncing Gives Warsh More Room for Maneuver on Rates

How the Federal Reserve Emerged as a Winner From the US Election

The Fed Needs a Better Way to Talk About Interest Rates

Banks Brace for Tighter Oversight from US Congress After Democrats Sweep

Wall Street’s Healthcare Checkup After the Midterm Rout

What the Midterm Election Results Mean for Your Money

The Wants We Never Knew We Had: Galbraith, Friedman & AI

OpenAI to Change How It Handles Data Center Efforts After Outcry

Alphabet’s Search Dominance Is at Risk From Its Own AI Success

The Making of Dario Amodei

Ads in Popular Apps Give Police a Powerful Tool to Spy on Users

China Blocks SoftBank’s $5.4 Billion Robotics Takeover, Impeding Foreign Deals

A New Factory Isn’t Necessarily a Sign of Growth

The Texas-Size Political Tremor Rattling Big Business

ConocoPhillips Profit Rises as Oil Prices Climb

High Gas Prices Boost Sales for Hybrid Giant Toyota, Sending Stock Soaring

VW to Pay Big Premium in Hybrid Debt Sale as Carmaker Struggles

Inside CVS’s Decision to Break Up a Healthcare Juggernaut

Lyft Launches $9.99-a-Month Program With DoorDash Membership

Wendy’s Rejects Takeover Bid From Trian to Take It Private

Canada Goose Loss Widens as Higher Costs Weigh Down Results

Craft Beer Makers Strain on Both Sides of US-Canada Trade Clash

Peloton Forecast Tops Estimates in Sign of Comeback Progress

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Morning News: November 4, 2026
Posted by Eddy Elfenbein on November 4th, 2026 at 7:20 am

Democrats Take Congress as Trump Says Iran War Is Partly to Blame for GOP Losses

Oil Prices Fall as Investors Weigh U.S. Midterm Results, Iran Risks

Trump Plays Down Prospect of Strikes on Iran After Midterm Rout

What Changes (or Doesn’t) Now?

The Size of the Blue Wave Confronts Markets

Stocks Rise as Democrats Flip Control of Congress

Musk’s Tesla, SpaceX Slide as Democrats Sweep Congress

Wall Street Banks Are Finally Seeing Their China Bets Pay Off

World Bank to Push for More Bond Issuance by African Cities

Will Republicans Learn From This Defeat? Not Likely

The Business Fallout From a Blue Wave

US Mortgage Rates Retreat for Third Week While Holding Above 7%

Where In the U.S. Are Homeowners Freest to Build?

US Bank Regulator Issues First-Ever AI Guidance for Examiners

Prediction Markets Make Owning a Business Less of a Gamble

The AI Sell-Off Saved Apple from a Sell-Off of Its Own

Microsoft’s Buyouts Imperil Its AI Ambitions

Nvidia China Clients to Get 1% of $70 Billion RTX Chips Ordered

3M Announces $7.4 Billion Settlement in ‘Forever Chemicals’ Injuries Case

HP Names Emma Walmsley as New CEO, Ending Monthlong Search

Waymo Co-CEO Says Uber App Deal Was ‘Crapshoot’ for Riders

CVS Raises Forecast on Health Care Benefits, Pharmacy Gains

CVS Plans to Break Up $117 Billion Healthcare Conglomerate

Americans Cut Back on Boats and RVs—but Can’t Stop Buying Harley-Davidsons

McDonald’s US Slump Cushioned by Increase in Order Sizes

Wayfair Logs Profit as U.S. Sales Drive Revenue Growth

How Beer Companies Stole Happy Hour From Liquor Brands

Kraft Heinz to Sell Coffee Unit to Refocus on Other Brands

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CWS Market Review – November 3, 2026
Posted by Eddy Elfenbein on November 3rd, 2026 at 4:17 pm

(This is the free version of CWS Market Review. If you like what you see, then please sign up for the premium newsletter for $20 per month or $200 for the whole year. If you sign up today, you can see our two reports, “Your Handy Guide to Stock Orders” and “How Not to Get Screwed on Your Mortgage.”)

Americans are headed off to the polls today. As usual, I’ll skip any politics, but I will note that historically, the mid-term elections have been a good time for the bulls. The low point in the presidential election cycle has historically been right now. Yesterday, the S&P 500 closed at its lowest level since July.

Since 1950, there have been 19 midterm elections, and stocks have gone up the following nine months and 12 months every time. Taking the midterm election day as the starting point, the average 12-month gain in those cycles was +15.1%.

Last week, the Federal Reserve voted to leave interest rates alone. It looks like the Fed is leaning towards a rate hike next month, but we can’t say for certain just yet. One big event will come this Friday: the October jobs report. The last few reports have been unimpressive. Wall Street isn’t expecting much this time. A lousy report could delay the Fed’s rate-hiking plans.

The stock market continues its turn towards defense. This is an important change that investors should understand. After a long time of not doing so well, defensive stocks are suddenly popular.

For example, over the last month, healthcare stocks have done very well compared with the overall market. Since October 5, the S&P 500 ETF (SPY) is -2.6% while the Healthcare ETF (XLV) and Staples ETFs (XLP) are up 9.9% and 9.7% respectively.

Utilities (XLU), another key defensive sector, have also done well with a gain of 8.6%. I’ll caution you—pinpointing the start of a sector rotation is a tricky game, and you see many false positives. In fact, we saw one last summer. Still, this turn toward defensive is notable. For one, these sectors have trailed the market by so much for so long that you should expect some pushback. Also, once the cycle changes, it can last for a few years.

Q3 GDP Grew by 3.4%

The economic news has been surprisingly good. On Thursday, the Commerce Department said that the U.S. economy grew in annualized inflation-adjusted terms of 3.4% for Q3. That’s quite good. Wall Street had been expecting growth of 3.1%. In Q2, the economy grew by 2.2%.

We won’t get the earliest Q4 numbers until late January, but I think there’s a good chance that the U.S. grew by 50% in nominal terms over the last six years. Here are some details from Thursday’s report:

Consumer spending rose 3.8% in the third quarter, the same pace as the prior period. Gross private domestic investment soared 19.4%, driven by a 20.9% surge in equipment spending and an 8.4% jump on intellectual property products.

Real sales to private domestic purchasers, a proxy that Fed officials use for underlying demand, rose 4.9%, compared with a 4.6% increase in the second quarter.

With the GDP numbers, the government also releases the personal consumption expenditures price data which the Fed prefers to follow. For September, PCE prices rose by 0.5% which put the 12-month figures at 3.6%. That was the largest increase since March.

Core PCE was up 0.3% for the month and 3.1% for the last year. In September, consumer spending rose by 0.5% while personal income rose by 0.2%. Despite multiple reports of its imminent death, the U.S. economy continues to grow. I’ve often noticed that good economic news really upsets some people.

Here’s another shocking stat that we recently got: The U.S. poverty rate recently fell to its lowest point on record. According to the Census Bureau, the poverty line for a family of four is $32,649. The median household income ⁠increased 2.6% to $87,460.

It’s not just here but also around the world. The World Bank recently released a fascinating report. Between 2011 and 2023, a staggering 496 million people in India were lifted out of poverty. That averages over 110,000 people every day for 12 years. This is one of the largest declines in poverty on record, yet we rarely hear about this.

By poverty, we mean the Lower Middle-Income poverty line is listed as income of $4.20 per day. The numbers show that 57.7% of people had been living below this line. Now that share is down to 16.1%.

If we look at the extreme poverty line, which is $3 per day, then poverty fell from 27.1% to 2.6%.

What caused the decline? The World Bank said it was “mainly driven by strong consumption growth, rising employment, especially among women, and expanded social transfers, including food subsidies.”

To be sure, there are still vast wage differences in India. The top 10% makes about 13 times those of the bottom 10%, but there are reasons for optimism. Between 2017 and 2023, employment increased by about 134 million. The World Bank estimates that the share of people making less than $4.20 per share will fall from 14.2% now to 12.1 by 2028.

The European Economy Is Struggling

On Friday, Eurostat said that the eurozone economy grew by just 0.4% for Q3. That beat forecasts for growth of 0.2%, but it was less than Q2’s growth of 0.6%.

The German economy grew by 0.2% while Italy and Spain grew by 0.6%. The weak link was France whose economy shrank by 0.1%. The French are dealing “with soaring borrowing costs as investors balk at a political struggle to reduce its large budget deficit and mounting national debt.” Ireland was the big winner at 5.5% growth, but that number can be very volatile.

The eurozone faces many structural issues such as demographics, debt and energy costs. Here’s a look at the S&P 500 (blue) compared with the iShares MSCI Eurozone ETF (EZU).

On Thursday, Binance, which is the world’s largest crypto exchange, said it had been hacked and $6.3 billion in digital coins has gone missing.

On Thursday evening, Binance started to notice some unusual activity and massive withdrawals. The company held a series of emergency meetings. According to the New York Times, one conference call had over 100 boxes. It looks like the hackers had been planning this hack for months.

It’s really an old story just with modern technology. This was a hi-tech version of a bank heist. Binance suspended all withdrawals. This was the largest crypto heist of all time. All the signs are pointing to an elite North Korean hacking unit called TraderTraitor. North Korea doesn’t really have an economy in a traditional sense. Instead, it relies on hacking.

Here’s an hourly price chart of Bitcoin. You can see how sharply the price fell, but it soon stabilized.

To its credit, Binance said it would cover all losses. The company said that it’s already been able to recover some losses. Sadly, this isn’t a new story. Last year, Bybit got hacked for a $1.5 billion loss.

Due to its secretive nature, crypto has often (and quite unfairly) been linked to crime. A few years ago, Binance pleaded guilty to anti-money laundering violations. The company had to fork over $4 billion to regulators, and Binance’s founder was sentenced to four years in prison. He was later pardoned by President Trump.

We’re in a new world where a hack happens, and it will take a while before we learn how much was lost. Binance said it had already replenished 98% of the affected assets.

That’s all for now. The October jobs report will be out Friday morning. Wall Street expects a gain of 55,000 new jobs. I’ll have more for you in the next issue of CWS Market Review.

– Eddy

Morning News: November 3, 2026
Posted by Eddy Elfenbein on November 3rd, 2026 at 7:05 am

Aramco Profit Jumps Despite Damaging Attacks on Pipelines and Refineries

His Business Was Tough. Diesel Prices Made It Impossible

Central Banks Accelerated Gold Buying in Third Quarter

The Fed Doesn’t Set Interest Rates. Just Ask a Retiree

Reputational Risk For Banks Must Be Dispensed With

We Were Warned: High Growth & More Safety Aren’t Compatible

Tim Penny’s Social Security Solutions Will Expand It, and the Federal Budget

Quant Pioneer D.E. Shaw Is Tweaking Its Secret Money Machine

The Crypto Mogul Behind Trading Powerhouse Hyperliquid

Betting on US Midterms Brings Rush, Stress as Serious Money Goes on the Line

How A.I. Is Making It Easier Than Ever to Microtarget Voters

The Two Big 2027 Challenges Looming for a Divided US Government

What Millions of Data Points Reveal About US Inflation

Health Insurance Is the Sleeper Inflation Issue

Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care

Pfizer Raises 2026 Forecast, Extending Pharma Windfall

Japanese, Korean, Taiwanese Firms’ US Investment Set to Keep Climbing: Citi

The Telling Changes to Board Composition

Apple’s Profit Grows 12% Despite Component Price Worries

Apple’s Tight-Lipped CEO John Ternus Fails to Inspire

AMD Needs a Huge Outlook to Avoid Intel’s Fate as AI Fears Rise

Carl Icahn’s CVR Energy Near Over $4 Billion Deal for Marathon Refineries

DuPont Swings to a Profit and Lifts Outlook

China’s BYD Doubles Market Share in Brazil With New Plant Eyed

Union Pacific/Norfolk Southern Could Be Freight Rail’s Missing Link

Ferrari Lifts Guidance Again on Strong Demand for Car Customizations

Keurig Dr Pepper Posts Higher Profit, Sales

Disney Plans Thousands of Layoffs, Targeting 20% Cost Savings

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Morning News: November 2, 2026
Posted by Eddy Elfenbein on November 2nd, 2026 at 7:07 am

Gulf Economies, Torn by War in Iran, Desperately Need a Return to Normal

How a Little-Known Company Dominated the Persian Gulf Oil Trade

Chile Bond Investors Turn to Inflation-Linked Notes as Oil Soars

America Is Making a ‘Freaking Fortune’ In an Energy Crisis

OpenAI’s Altman Signs Energy, Investment Deals in the UAE

Blackstone Leads $3.1 Billion Investment in Mitsubishi’s Stake in LNG Canada

Wash Trades and 5,000% Gains: Inside Indonesia’s MSCI Hustle

Sectors Bracing for a Pivot as US Midterm Elections Loom

Wall Street Eyes Biggest Treasury Sales Overhaul in Years

US Property Titan Hines Targets Europe’s Rich With New Fund

A Consistent and Constitutionalist Commitment to Investor Primacy

The Best Buyout Pipeline Runs Through Venture Portfolios

The Two Great Tasks Apollo’s CEO Is Tackling

Binance Outflows Reach $4.7 Billion After North Korea Hack

We’re Living in the Age of the Imperial CEO

The Head of the A.C.L.U. Thinks C.E.O.s Are ‘Ducking the Hard Issues’

Companies Have a Solution for the Skilled Trade Shortage: More Women

The AI ‘Hog Cycle’: Oh Well, That Didn’t Take Long

Silicon Valley’s AI Bets Are Built on Hype, Hope and Hubris

Each Selloff Brings AI’s Day of Reckoning Closer

The ‘Shorter’ AI Workweek: 9 to 5:45ish

Could Orbital Data Centers Ruin the Night Sky?

Apple’s $1 Trillion Rally Leaves No Room for Error on Earnings

Netflix Needs You to Watch, Not Just Pay

The Shopping Bots Are Coming for Amazon

The U.S. Becomes a Global Hub for Horse Racing

FIFA Quietly Paid Millions in Taxes for Its President

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Morning News: October 30, 2026
Posted by Eddy Elfenbein on October 30th, 2026 at 7:00 am

Trump’s Venezuela Strategy Needs More Than Oil Deals

American Oil Giants See Profits Soar as Wars Crimp Energy Supplies

U.S. Oil Industry Earned Over $130 Billion in Profit During Iran War

US Natural Gas Drillers Scale Up as Demand Grows

India Funds Leave Investors Clueless on Climate Risk

The Daylight Savings Debate Isn’t About Energy Anymore

Why the Markets Don’t Care About the Midterms

Tech Tumult Rocks Wall Street

Binance Suspends Withdrawals After Crypto Hackers Steal $6.3 Billion

Gone in 20 Minutes: How the Biggest Heist in Crypto History Unfolded

To Thwart Socialism, We Need More Capitalism

Cost-of-Living Crises Don’t Need to Cost So Much

Tax-the-Rich Masterminds Bet Their Moment Has Finally Arrived

There’s a Much Better Way to Make Rich People Pay Their Share

Jack Dorsey’s Cash App Wants More Than Your Occasional Payments

The Fast-Cash Advances Draining America’s Small Businesses

Headcount Is an Antiquated Measuring Stick of Business Size

Sam Bankman-Fried Reveals ‘Hindsight’ As Wildly Sight-Impairing

Trump’s New AI Czar Should Answer to Voters, Not Investors

How One Country Became the Unlikely Crossroads of the Global A.I. Boom

Anthropic’s $100 Billion Mission Is the Whole Market Now

Big Tech’s Data Center Blitz Is Burning Through Cash and Scaring Wall St.

Chinese Executive Close to Nvidia CEO Suspected of Giving China Information

In China, the War on Mosquitoes Has Entered the A.I. Era

BASF’s $12.5 Billion Takeover Bid for Evonik Rebuffed

Volkswagen Pauses Work on ID.Golf Model to Preserve Cash Flow

Polaris’s CFO Wants to Restart Buybacks After a Tough Couple of Years

New York Bought an Electric Ferry. The City Can’t Charge It.

AbbVie Revenue Rises on Strength in Immunology, Neuroscience

How Bristol Myers’s CEO Challenged the Company’s Managers

The Real Reason DoorDash Is Buying Instacart

World Series Audience Shrinks, Despite Brewers’ Historic Win

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