Flash News

TREE NEWS update: US President Donald Trump said the United States is close to reaching a trade agreement with Mexico. Trump made the remark without providing further details on the terms or timing of a potential deal. The two countries are bound by the US-Mexico-Canada Agreement, which Trump has previously threatened to renegotiate.

TREE NEWS reports: Fuel oil futures closed the night session up 6.38%, leading a broad rally in Chinese energy and chemical futures. Methanol rose 6.01% and styrene gained 6%, while propylene, pure benzene, polypropylene and paraxylene each climbed at least 5.41%. The moves reflect sharp across-the-board gains in the night trading session.

TREE NEWS update: The Saudi-led multinational coalition intercepted and destroyed a ballistic missile launched by Houthi forces toward Khamis Mushait in southern Saudi Arabia on Oct. 23, coalition spokesman Turki al-Maliki said. The missile was destroyed the same day.

TREE NEWS update: Jio Platforms’ Indian initial public offering has received more than 13.8 million subscription applications, a Reliance official said, setting an all-time record for India. The figure marks the largest number of bids ever recorded for an Indian IPO, underscoring heavy retail demand for the Reliance Industries telecom and digital unit’s listing.

TREE NEWS update: US President Donald Trump said the war with Iran could end soon, without giving a timeline or further details. The remark is a direct statement from the president on the conflict’s duration. No additional terms, conditions or dates were provided.

TREE NEWS update: Jio Platforms’ IPO attracted more than $77 billion in bids, making it India’s most-subscribed stock offering and surpassing Reliance Power’s 2008 issue, with public subscription exceeding 22 times. Anchor investors including Abu Dhabi Investment Authority, BlackRock and Fidelity submitted $25.6 billion in bids for $854 million of reserved shares. The offering values the company at up to $108.3 billion ahead of trading next Wednesday.

TREE NEWS reports: The Nasdaq 100 rose as much as 0.5% to a fresh intraday high, with cybersecurity and semiconductor names leading. Palo Alto Networks gained 5.9%, CrowdStrike 5.3% and Datadog 4.2%, while Micron, Marvell, Baker Hughes, AMD and Cadence each added at least 2%. The Philadelphia Semiconductor Index was up 1.3%. Decliners included Moderna, down 1.1%, Autodesk 1.7%, PepsiCo 2.3%, Adobe 2.6%, Intuit 2.6%, Ross Stores 3.1%, T-Mobile 3.5% and ODFL 4%.

TREE NEWS update: Chinese Foreign Minister Wang Yi met UN High Commissioner for Refugees Salih on the sidelines of the 2026 Global Governance Forum in Xiongan New Area, Hebei. Wang said China’s development adds to global peace and stability, and that Beijing is ready to open new cooperation prospects with UNHCR guided by the Global Governance Initiative to contribute to international humanitarian efforts.

TREE NEWS update: Algeria has instructed its urea producers to stop exporting the fertilizer to France, escalating trade restrictions amid a deepening diplomatic rift with its former colonial ruler. France’s fertilizer industry association Afcome and wheat growers’ group AGPB said the suspension emerged early last week and could jeopardize supplies that account for about 30% of France’s urea imports. Three diplomats also said they were told Algeria had ordered a halt to urea shipments to France.

TREE NEWS update: China’s National Energy Administration convened a symposium in Hainan on strengthening energy and power support for the Hainan Free Trade Port. The meeting called for building a diversified supply guarantee system, bringing key power generation projects online on schedule and accelerating new energy development. It also urged faster construction of a province-wide new-type power grid, improved system flexibility, and better power supply quality and service.

TREE NEWS update: The fifth EU-China Business Leaders Roundtable Dialogue will be held in Brussels on October 29, co-hosted by the China Chamber of Commerce to the EU (CCCEU) and the European Union Chamber of Commerce in China (EUCCC). Under the theme “Rebalancing the Relationship, Tapping into New Potential,” the event aims to give senior Chinese and European business figures a direct, pragmatic platform to exchange views on market access, industrial coexistence, sustainable development and the twin transition. Chinese Ambassador to the EU Cai Run will attend and deliver a keynote speech.

TREE NEWS reports: The Dow Jones Industrial Average fell more than 800 points as Middle East tensions intensified, with only Alphabet, Nvidia, Cisco and Chevron among the index’s gainers. American Express, which announced layoffs, dropped over 3.7%, while Home Depot fell 3% and Salesforce, Caterpillar, Sherwin-Williams, 3M, Nike, Merck, McDonald’s and Coca-Cola each lost more than 2%. The Philadelphia Bank Index declined 1.3%.

TREE NEWS update: The UAE Ministry of Climate Change and Environment said in a statement on social media on October 23 that all beaches and coastal areas in the emirate of Umm Al Quwain have been temporarily closed due to pollution from a previous oil tanker spill. The ministry did not provide further details on the extent of the contamination or when the beaches might reopen.

TREE NEWS update: China’s National Energy Administration Deputy Administrator Wang Jianbo met Turkish Deputy Minister of Energy and Natural Resources Zafer Demircan in Beijing on Oct. 21 to exchange views on cooperation in renewable energy and power. The two sides discussed collaboration in the energy sector, the NEA said.

TREE NEWS update: Canadian private jet manufacturer Bombardier announced it will invest $270 million in the United States and hire 800 workers. The company disclosed the investment and hiring plan without specifying locations or a timeline. The move marks a significant expansion of the Canadian planemaker’s US footprint.

TREE NEWS update: At least 306 people were killed and hundreds wounded in drone strikes across Sudan during the first three weeks of October, UN High Commissioner for Human Rights Volker Türk said in a statement on Oct. 23. The strikes hit Khartoum, Blue Nile state, the Kordofan region and Darfur, targeting homes, markets, hospitals, displacement camps, power stations and water sources.

TREE NEWS reports: The spread between Italian and German 10-year government bond yields narrowed by 6 basis points to 169 basis points. The move reflects a compression in the risk premium investors demand to hold Italian debt over German bunds.

TREE NEWS reports: South African equities dropped 1% on the day, with the benchmark index closing lower. No further details on the drivers or individual sector moves were immediately available.

TREE NEWS update: A magnitude 4.5 earthquake struck Zadoi County in Yushu Prefecture, Qinghai, at 22:14 on October 23. The epicenter was located at 32.50 degrees north latitude and 93.95 degrees east longitude, at a depth of 10 kilometers. No further details were immediately available.

TREE NEWS reports: Joanne Hsu, director of the University of Michigan’s consumer sentiment survey, said short- and long-term inflation expectations have both risen in recent months after five years of above-target inflation, exposing the risk that elevated expectations become entrenched. Consumers, regardless of political affiliation, see inflation as the biggest risk to the economy over the next year, far ahead of unemployment.