Flash News

TREE NEWS update: US Treasury Secretary Scott Bessent held an online exchange with his South Korean counterpart, the US Treasury said. The Treasury gave no further details on the topics discussed or any outcomes from the call. The two sides did not announce any agreements or follow-up actions.

TREE NEWS update: Hyundai Motor will invest $15.5 billion in India over 2026-32, the company said. The figure covers a multi-year commitment to the Indian market spanning seven years. No breakdown of the spending or specific projects was disclosed.

TREE NEWS reports: US existing home sales rose 1.5% month over month in September, beating expectations of a 0.8% decline, with the prior reading revised to -3.2% from -2%. The annualized pace came in at 3.99 million units versus a 3.96 million forecast, while the prior figure was revised to 3.93 million from 3.98 million.

TREE NEWS update: Beijing Tianxun Chuangyi Technology Co., a high-tech maker of smart logistics and special-operation drones, has relocated to Handan’s Linzhang County, becoming the city’s first company to absorb a Beijing low-altitude economy business since the capital’s no-fly-zone policy took effect. The project spans a North China regional headquarters, final assembly, flight testing, maintenance training and scenario operations, with first-phase equipment entering a 4,000-square-meter plant on October 12 and annual output projected at 300 vertical take-off fixed-wing drones.

TREE NEWS reports: The secured overnight financing rate (SOFR) stood at 3.87% on October 12, unchanged from the prior day. The effective federal funds rate also held steady at 3.88% for the same trading day.

TREE NEWS update: The White House said President Donald Trump will hold rallies in Alaska, Arizona, Montana and Georgia. Trump will also hold a rally in Florida. No dates or venues were given for the events.

TREE NEWS update: Donald Trump will hold a midterm election rally in Kentucky on October 17. The event is part of the former president’s campaign-trail push ahead of the November midterm elections.

TREE NEWS reports: Blackstone President Jon Gray and Federal Reserve Governor Christopher Waller said France’s fiscal pressures serve as a warning to governments that spend heavily, though such risks are less urgent in the United States given its much higher economic growth rate. The two spoke on the fiscal strain facing France.

TREE NEWS reports: US sector ETFs opened mixed on the day, with the semiconductor ETF down nearly 2% and the global tech index ETF down more than 1%. The energy sector ETF rose nearly 1%. Other major industry ETFs were split between gains and losses.

TREE NEWS reports: The Dow rose 0.8% while the S&P 500 slipped 0.1% and the Nasdaq fell 0.4% in early US trading. Memory chip stocks dropped broadly, with SK Hynix, Western Digital, Micron and Seagate all down roughly 6-7%. Goldman Sachs gained about 3% after reporting Q3 net revenue of $18.68 billion, with equities trading revenue up 72%. Apple rose about 2% to a fresh all-time high.

TREE NEWS reports: The S&P 500 opened down 11.97 points, or 0.15%, at 7,795.27, while the Dow Jones Industrial Average opened up 242.44 points, or 0.47%, at 52,092.99. The Nasdaq Composite opened 107.17 points lower, or 0.39%, at 27,138.73.

TREE NEWS reports: Citigroup’s fixed income trading business delivered its best third-quarter performance in at least ten years, with bonds, currencies and commodities revenue reaching $4.4 billion, beating the $4.3 billion analyst average. Services revenue rose 15% year-on-year to $6.6 billion. The stronger FICC and services results offset weaker merger advisory, where revenue fell 4%, and lower bond underwriting income.

TREE NEWS reports: JPMorgan and Goldman Sachs took the rare step of limiting their exposure in a $5 billion AI loan for Volta Infrastructure Holdings, a cloud-services firm founded this year, underwriting only a $1.3 billion term loan and refusing to underwrite the $3.7 billion chip loan. The package, offered at roughly 11% — among the highest borrowing costs in the AI leveraged-loan market — is backed by 36,000 Nvidia chips and a Norwegian leasehold.

TREE NEWS update: Yemen’s Houthi movement warned on the afternoon of the 13th that all workers and civilians near Saudi Aramco oil facilities should immediately evacuate the area and stay away from the sites. The group said Saudi Aramco’s oil facilities will be “legitimate targets” for attack.

TREE NEWS reports: Night session futures opened lower in Chinese commodities, with 20# rubber and rubber each falling nearly 2%, while LPG, soda ash, methanol, polypropylene and fuel oil dropped more than 1% and plastics lost nearly 1%. On the upside, pure benzene and Shanghai lead gained more than 1%, and styrene rose nearly 1%.

TREE NEWS reports: Zhang Xu, assistant director of Hua’an Fund’s quantitative investment department, is preparing to leave the firm for the private fund sector, industry sources said. Kong Lingye, deputy director and fund manager of Huatai PineBridge Fund’s quantitative and overseas investment department, is lined up to take over his management duties. Zhang has not formally stepped down and still manages 11 funds with over 11 billion yuan in assets as of the end of the third quarter.

TREE NEWS update: The United States issued a travel warning advising its citizens not to travel to the Yemen border region, citing the threat of terrorism. The advisory covers the frontier area and urges avoiding the zone. No further details on the specific threat or timing were provided.

TREE NEWS update: The United States issued a travel advisory urging its citizens to reconsider plans to travel to Saudi Arabia. The advisory cites risks from Iran, the Houthis and terrorism.

TREE NEWS update: The Saudi-led coalition in Yemen warned civilians to evacuate a Houthi-controlled location in Sanaa before it takes action, a coalition spokesman said on X. Minutes later, Houthi spokesman Yahya Saree said any attack on Sanaa would draw a severe response against Riyadh.

TREE NEWS reports: US spot BTC ETFs saw $679 million in net outflows last week, including a record $485 million single-day outflow on Wednesday, the largest since June, CoinShares said in its biweekly market report. ETH ETFs bled $542 million over nine straight sessions, nearly $700 million cumulatively. Bitcoin briefly neared $87,000 on October 5 before falling to about $80,300 and rebounding to roughly $83,500. CoinShares said BTC’s correlation with the Nasdaq has recovered to its long-term average of about 40%, and flagged this week’s US CPI print as a key variable.