Flash News

TREE NEWS update: A ship was struck by an unidentified projectile and caught fire about 13 nautical miles (24 km) west of the United Arab Emirates, the United Kingdom Maritime Trade Operations said on the 9th. The fire has been extinguished. The condition of the crew, the extent of damage to the vessel and any environmental impact remain unclear, and authorities are investigating. UKMTO advised vessels in the area to transit with caution and report any suspicious activity.

TREE NEWS update: The White House announced a committee to investigate Federal Reserve Governor Lisa Cook over allegations she made false statements in one or more mortgage-related documents. The panel, including the president’s economic policy assistant, the EEOC chair and the government ethics director, will hold an in-person hearing at the White House on November 5, 2026, lasting no more than four hours. Cook may submit written statements before and after the hearing, after which the committee will report findings to Trump and recommend whether grounds exist to remove her.

TREE NEWS update: China’s Ministry of Commerce said it opposes using the so-called ‘structural overcapacity and overproduction’ issue as a pretext for trade protectionism, after the U.S. Trade Representative’s Office said Washington convened 14 economies that signed a joint ministerial statement on the matter on Oct. 7. The ministry said China would make a necessary response if relevant economies take measures harming its interests.

TREE NEWS reports: The University of Michigan’s preliminary October consumer sentiment index came in at 46.3, below the 47.6 expected and down from 48.1 in September. The current conditions index fell to 44.7 versus a 50.1 forecast, while the expectations index rose to 47.3. One-year inflation expectations edged up to 4.7%, and five-year expectations rose to 3.5%.

TREE NEWS update: The Federal Reserve Board released the results of its 2025 Survey of Consumer Finances, which provides the public and policymakers with detailed insights into the economic condition of American families. The triennial survey details household finances, including income, assets and debt. The Fed published the findings without accompanying commentary in the release.

TREE NEWS reports: Spot silver rose 3.0% on the day to trade at $60.93 an ounce. The move extends gains in the precious metal, which has drawn investor demand alongside gold. No further details were immediately available.

TREE NEWS update: Police in Taiyuan, Shanxi province, dismantled two illegal sites used for storing and selling fireworks, seizing more than 4,900 boxes of fireworks and firecrackers with a case value of over 4.5 million yuan, the city’s public security bureau said. The Wanbailin and Jinyuan district sub-bureaus carried out the raids in their respective jurisdictions.

TREE NEWS update: Iran’s Islamic Revolutionary Guard Corps said on the 9th that its navy will not allow any aggressive foreign force to be stationed in the Strait of Hormuz and will strike at any attempt to undermine Iran’s management of the waterway. The statement said responsibility for rising regional maritime transport tensions lies with US forces.

TREE NEWS reports: The S&P 500 opened 21.00 points higher, up 0.27%, at 7,786.36. The Dow Jones Industrial Average opened up 27.31 points, or 0.05%, at 51,258.95, while the Nasdaq Composite opened 148.93 points higher, up 0.55%, at 27,342.27.

TREE NEWS update: Chinese Commerce Minister Wang Wentao and EU Trade and Economic Security Commissioner Maros Sefcovic co-chaired the second meeting of the China-EU trade and investment consultation mechanism in Beijing on October 8-9, issuing a joint statement. The two sides reviewed progress across four working areas — trade and investment balance, export controls, intellectual property, and WTO reform — and held constructive discussions on key economic and trade issues.

TREE NEWS reports: Bitcoin is sliding in what analysts describe as a bearish start to Uptober, with experts flagging support levels from $83,000 down to $72,000 that the largest cryptocurrency may need to test. Market watchers point to those bands as the key downside zones to watch as the sell-off extends into October.

TREE NEWS update: Chinese Vice Premier He Lifeng met EU Commissioner for Trade and Economic Security Maros Sefcovic in Beijing on the afternoon of the 9th, with the two sides exchanging views on China-EU economic and trade relations. He said China attaches great importance to ties with the EU and called for sustained dialogue and proper handling of differences within the bilateral trade and investment consultation mechanism. Sefcovic said China is an important EU trade partner and voiced willingness to keep advancing consultations.

TREE NEWS update: Hubei provincial authorities released the investigation report on October 9 into the “2·18” major fireworks explosion at the Qianhe department store in Yicheng, Xiangyang. The findings were issued by the provincial government’s accident investigation team.

TREE NEWS update: The LNG carrier Ushakov berthed at PetroChina’s Jiangsu LNG receiving terminal at Yangkou Port in Rudong, Jiangsu, marking the 900th LNG vessel the facility has unloaded since it began operations in 2011. The terminal is located at Yangkou Port in Rudong county, Jiangsu province.

TREE NEWS reports: SoftBank is planning to raise $100 billion from Gulf-region investors as it escalates its bet on artificial intelligence. The fundraising plan was reported Friday, with no lead investor or closing date disclosed. Earlier the same day, OpenAI clarified its annualized revenue stood at about $50 billion as of end-September, against a year-end target of $70 billion.

TREE NEWS reports: In the night session, commodity futures opened higher, with TSR 20 rubber leading gains at over 2%. Rubber rose nearly 2%, while coking coal, polypropylene, Shanghai tin, Shanghai silver, and coke each climbed more than 1%. Asphalt and glass fell more than 1%.

TREE NEWS update: UK Prime Minister Andy Burnham proposed during a visit to Berlin that Germany join the Global Combat Air Programme (GCAP), which aims to develop a new stealth fighter. GCAP currently involves the UK, Italy and Japan. Germany has been seeking an alternative since its joint fighter project with France collapsed this summer after prolonged disputes.

TREE NEWS update: Voting opened on October 9 local time in the Czech Republic’s nationwide municipal and regional elections, with voters electing members of town and local councils. At the same time, Senate elections are being held in 27 constituencies to fill one-third of the chamber’s seats.

TREE NEWS update: Iran’s Islamic Revolutionary Guard Corps said it will strike all “violating” vessels in the region, with the scope extending beyond the Strait of Hormuz. The force did not specify which ships or flags would be targeted. The statement raises the risk of disruption to shipping through the world’s most important oil chokepoint.

TREE NEWS reports: WTI crude futures erased an earlier 1.5% decline and turned higher, trading up 0.23% at $91.586 a barrel. The intraday reversal left the US benchmark in positive territory after the session’s earlier selloff.