Flash News

TREE NEWS update: Mexican President Claudia Sheinbaum said on October 26 that the United States has repeatedly requested permission to send personnel into Mexico to take part in operations against drug cartels since President Trump took office, and that Mexico has consistently refused. Speaking at her morning press conference, Sheinbaum said Mexico will continue security cooperation with the US, including intelligence sharing and border enforcement coordination, but only on the principles of sovereignty, territorial integrity, mutual trust and coordination rather than subordination. Actual law enforcement inside Mexico must be carried out by Mexican authorities, she said.

TREE NEWS update: Brazil’s main stock index, the Ibovespa, fell 10% on October 26, triggering the B3 exchange’s circuit breaker for the first time since March 2020 and halting trading in stocks and related assets for 30 minutes. After trading resumed, the index extended its decline, with losses at one point exceeding 17%.

TREE NEWS update: Ukrainian President Volodymyr Zelensky signed a decree on the 26th approving a National Security and Defense Council decision to strengthen ring defenses around Ukrainian cities. The decision calls for building engineering obstacle belts around urban areas and improving related defensive measures and implementation mechanisms. The full text is classified for official use only and has not been made public, with Council Secretary Oleksandr Klimenko tasked with overseeing implementation.

TREE NEWS reports: The Invesco QQQ Trust, tracking the Nasdaq 100, closed up 1.11% on Monday, October 26, while the S&P 500 ETF, U.S. real estate ETF and Russell 2000 ETF gained at most 0.71%. The 20+ Year Treasury ETF and gold ETF rose at most 0.42%. The United States Brent Oil Fund fell 1.3% and the ProShares VIX short-term futures ETF dropped 2.19%.

TREE NEWS update: Bank of America, Blackstone, Citigroup, Morgan Stanley and Broadcom announced a landmark financing agreement valued at $63 billion. The deal brings together three of Wall Street’s largest banks, the private equity giant Blackstone and chipmaker Broadcom in one of the largest financing packages on record. No further terms were disclosed.

TREE NEWS reports: Brazil’s benchmark stock index closed down 13.9% on the day, its worst single-day performance since 2020. The sharp decline marks one of the most severe one-day selloffs for Brazilian equities in recent years.

TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index rose 0.53% on Monday, Oct. 26, closing at 2,881.65. Among components, Ather Energy Ltd. gained 14.13%, Yadea Group Holdings H-shares added 7.63%, Tesla climbed 5.21% and Hesai rose 4.26%. XPeng’s H-shares bucked the trend, closing down 3.83%.

TREE NEWS reports: The Philadelphia Semiconductor Index rose 2.9% and the memory chip index also gained 2.9% as the S&P 500 added 0.7% and the Nasdaq 100 climbed 1.1%. Lumentum led Nasdaq 100 components with an 8% gain, while Arm, Synopsys and Tesla each rose at least 5.1%. Strategy fell 4.3%, DoorDash 5.9% and MercadoLibre 7.9%, with the telecom sector down 1.5%.

TREE NEWS update: Brazilian lawmaker Jair Bolsonaro said federal police have demanded he surrender his passport, after he acknowledged defeat in last weekend’s election. The demand marks a fresh legal step involving the congressman, who conceded the vote over the weekend. It was not immediately clear what grounds the police cited for the request.

TREE NEWS update: Brazil’s Finance Minister Dario Durigan said the government will pursue a higher real primary fiscal surplus next year without specifying a figure. He also said the government plans to submit a bill to Congress this year requiring policymakers to formally target the “midpoint” of the primary balance goal, and that the Treasury intervened in the government bond market on Monday by canceling scheduled auctions and conducting special reverse repo operations after election-related concerns drove long-term interest rate futures sharply higher.

TREE NEWS reports: Fitch Ratings said Luiz Inácio Lula da Silva’s election victory in Brazil increases fiscal uncertainty, which could make it harder for the government to achieve a lasting stabilization of its debt-to-GDP ratio. The rating agency flagged the risk in its assessment of the incoming administration’s fiscal path.

TREE NEWS reports: ICE raw sugar futures fell 5.63% to 19.10 cents per pound in late New York trading on Monday, October 26, after opening lower near 19.80 cents in European morning trade and extending losses from 20:00 to 23:40 Beijing time. ICE white sugar futures dropped 4.11%, while ICE arabica coffee fell 2.59%, New York cocoa fell 1.59% to $5,503 per tonne, and ICE cotton fell 1.60%.

TREE NEWS update: US President Donald Trump said Brazil’s election results “look very bad,” without specifying which contest or what prompted the remark. The comment was a brief statement from the president on the Brazilian vote, and no further details or official reaction were provided.

TREE NEWS reports: The dollar rose 0.37% against the yen to 157.45 in late New York trading on Monday, October 26, with the pair moving between 156.65 and 157.64 during the session and climbing steadily from 10:41 to 23:31 Beijing time. The euro gained 0.18% against the yen to 176.05, and sterling added 0.18% to 210.165. The yen fell 0.40% against the offshore yuan to 4.2345.

TREE NEWS reports: Steel Dynamics shares quickly gave up earlier gains and turned 1.2% lower, while Nucor’s decline widened to 1.2%. The moves followed reports that the US and Canada are working toward an agreement to ease US tariffs on Canadian steel and auto imports.

TREE NEWS reports: CBOT wheat futures fell 1.52% and soybeans dropped 1.16% to $12.5350 per bushel in Monday’s New York close, with soymeal down 1.88% and corn off 0.22%. The Bloomberg Grains Subindex fell 0.90% to 30.5453 points, roughly flat versus the Asia-Pacific open after touching 30.2846 at 22:38 Beijing time. Soy oil gained 0.28%, while lean hogs slid 1.30% and feeder cattle rose 0.16%.

TREE NEWS reports: The ICE U.S. Dollar Index rose 0.17% to 101.984 in late New York trading on Monday, Oct. 26, with an intraday range of 101.582 to 102.056. The index climbed steadily from 10:44 to 21:59 Beijing time. The Bloomberg Dollar Spot Index gained 0.10% to 1,222.25, trading between 1,219.65 and 1,223.58.

TREE NEWS update: A federal appeals court ruled that the Federal Reserve must rewrite its rule capping debit card transaction processing fees, finding the current rule violates congressional intent. The rule allows banks to include certain costs, such as fraud prevention, when calculating swipe fees, which the court said does not meet the requirements of the 2010 Dodd-Frank Act. The decision upholds a lower court’s ruling that vacated the Fed’s debit card interchange fee cap.

TREE NEWS reports: US retailers are heading into the most expensive holiday parcel-shipping season on record, with ground shipping rates including e-commerce orders expected to rise 5.8% year over year in the fourth quarter. Soaring diesel prices have pushed UPS and FedEx to raise fuel surcharge rates further, driving up retailer costs. Holiday-related parcel volumes could double in the fourth quarter.

TREE NEWS reports: Hedge funds sold technology stocks last Thursday at the fastest pace in two years, as Wall Street suffered its biggest selloff since July. In a note to clients, the head of the bank’s hedge fund client business said the move casts serious doubt on conviction in the AI trade, and that beneath the S&P 500’s three-month range, “persistent performance drawdowns” have been masked since late June as the AI trade unwound.