Flash News

TREE NEWS update: Morgan Stanley sold $3 billion of investment-grade bonds in two tranches just hours after posting quarterly results, with $2.5 billion in fixed-to-floating notes due in four years and callable after three. The notes are expected to yield about 0.75 percentage points over Treasuries, roughly 25 basis points tighter than initial guidance. The deal came as higher-than-expected September US inflation pushed Treasury yields sharply higher, prompting other potential issuers to hold back.

TREE NEWS update: Bank of America CEO Brian Moynihan said he “briefly” discussed how to resolve a number of issues, adding that the bank takes the Trump administration’s orders seriously and will address the latest regulatory fines exposed. “We are responsible for everything the company does,” Moynihan said. He did not specify which issues or penalties he was referring to.

TREE NEWS reports: The Nasdaq Composite dropped 2% and the Nasdaq 100 fell 2.1%, while the S&P 500 lost 1.3% and the Dow Jones Industrial Average slipped 0.45%. The semiconductor index tumbled 4.32% and the banking index declined 2.3%, even as the biotech index rose 1.69%.

TREE NEWS reports: The Nasdaq 100 extended its decline to 2%, with CoreWeave shares dropping 15.4% as the cloud company’s CEO blamed the selloff on “irrational” market behavior. CoreWeave bonds also slumped into distressed territory, a move that drew a startled reaction from Elon Musk.

TREE NEWS update: GlobalFoundries said it expects its long-term agreements to generate approximately $3 billion in adjusted free cash flow. The semiconductor maker disclosed the figure without specifying a timeframe for the expected cash flow. No further details were provided.

TREE NEWS update: CoreWeave CEO Intrator said he is confident in the company’s business model, including its funding, sales and inventory backlog. The remarks addressed confidence across capital, sales and accumulated inventory, without providing specific figures or a date.

TREE NEWS update: Anduril is selling insider shares at a valuation of roughly $90 billion, the defense technology company said. The transaction allows existing holders to sell stock in a deal that values the company at about $90 billion.

TREE NEWS reports: CoreWeave’s unsecured 2032 bonds fell below 80 cents on the dollar on Wednesday, pushing yields above 15%. The AI cloud provider’s credit default swaps hit a record high, with market pricing implying a more than 50% probability of default within five years. Chamath Palihapitiya flagged the bond level on social media, prompting Elon Musk to call it “scary.”

TREE NEWS update: Commerce Secretary Howard Lutnick announced a $21 billion investment to build two large semiconductor manufacturing plants in Malta, New York, President Trump said. Japan will provide funding for the $21 billion investment, and a separate agreement with GlobalFoundries gives US taxpayers an equity stake in the company. The Commerce Department will also invest $955 million in silicon photonics, silicon germanium and advanced packaging.

TREE NEWS reports: The Philadelphia Semiconductor Index extended its decline to 4.01%, with AMD dropping 5.74%, Intel 4.48%, Micron 3.40%, Nvidia 3.11%, TSMC 3.06%, Broadcom 2.89% and Qualcomm 2.89%. ASML fell 1.44% in the broad chip-sector selloff.

TREE NEWS reports: Morgan Stanley’s client assets reached $8.4 trillion, with new inflows from high-net-worth clients surging on wealth created by large IPOs, CFO Sharon Yeshaya said on an analyst call. The bank said equities remain its core growth engine, with Asia particularly strong, while private equity exits remain locked up. CEO Ted Pick said the bank aims to “minimize irrational behavior” when asked about AI financing amid rising rates.

TREE NEWS reports: Philadelphia Semiconductor Index constituents are on track to shed more than $1 trillion in combined market value as concerns over rising interest rates, stretched valuations and the huge cost of AI infrastructure mount. The index fell as much as 3.1% and has lost about 10% over six straight sessions, its longest losing streak since May 2025. Arm Holdings dropped nearly 20%, Applied Materials about 15% and Intel 11%; GlobalFoundries was the only gainer.

TREE NEWS reports: The MSCI Nordic Countries Index closed down 0.1% at 393.24, with the financial sector posting the steepest drop among the ten sectors tracked. Skandinaviska Enskilda Banken AB fell 4.6%, the worst performer among Nordic constituents.

TREE NEWS reports: Germany’s DAX 30 index initially closed up 0.14% at 25,299.45. France’s index initially closed up 0.52%, while Italy’s index initially closed down 0.61% and its bank index fell 0.82%. The UK index initially closed up 0.61%.

TREE NEWS update: Bank of America disclosed a $1.2 billion regulatory penalty one day before its earnings release, saying it has completed substantial remediation work through staff reassignments and technology investment. CFO Alastair Borthwick said the penalty will not affect the bank’s profit targets. Bond trading revenue fell 17% year over year while equity trading rose 10%, and investment banking fees dropped more than 11% from a year earlier. Shares fell sharply at the open.

TREE NEWS reports: US September core inflation came in above expectations, pushing Treasury yields higher and prompting traders to price in a possible Federal Reserve rate hike in December, sending mining stocks lower on Wednesday. The NYSE Arca Gold Miners Index fell as much as 4.3% to its lowest since August, with Newmont down 3.2% and Barrick down 3.9%. Spot silver dropped as much as 5% to its lowest since late July, while copper slipped 0.4% in London.

TREE NEWS update: Jio Platforms has set the price guidance range for its Indian IPO at 1,065 to 1,119 rupees per share. The company, the digital services arm of Reliance Industries, is proceeding with the listing on Indian exchanges. No further terms of the offering were disclosed.

TREE NEWS reports: Bank of America Global Research lowered its price target on ASML Holding to €2,507 from €2,557. The revision trims the previous target by €50. No further details on the rating or rationale were provided.

TREE NEWS update: Hong Kong’s Securities and Futures Commission suspended trading in tea chain ChaPanda’s H-shares from 9am on October 13, citing concerns that its IPO may have been artificially manipulated to create a false appearance of demand for the stock. ChaPanda said it is urgently seeking legal advice, will cooperate fully with the SFC, and confirmed its business operations remain normal with no material changes as of the announcement date.

TREE NEWS update: Nike’s vice president of local product origination, Flavia Cervantes, said on October 13 that the pace of innovation in the Chinese market will quicken as the company develops dedicated silhouettes and fabrics for Chinese consumers. The effort will extend to more categories, covering men’s and women’s wear and different sports, she said, citing China’s strong network of manufacturers and material development partners.