Alphabet fell 12.64 percent in the steepest one day drop since its 2004 listing, as investors repriced the AI buildout against the cash it consumes.
Alphabet was the market’s story. Its shares fell 12.64 percent to 283.82 dollars after third quarter capital spending hit a record 51.4 billion dollars and free cash flow swung to negative 9.07 billion dollars, erasing roughly half a trillion dollars of market value despite cloud revenue more than doubling (see today’s Alphabet story). Amazon fell 4.25 percent to 243.79 dollars in the same repricing of AI spending, even as its own AWS story today is a trillion dollar revenue ambition funded by 220 billion dollars of 2026 capital expenditure.
Oil tonnage was the strongest bid in the tables. Tanker freight rose 5.62 percent to 949.43 dollars, extending the record product tanker bookings in yesterday’s Scorpio coverage, while dry bulk eased, so the strength is specific to oil shipping (see today’s commodities roundup). WTI crude rose 2.00 percent to 104.04 dollars a barrel as banks raised oil forecasts on a tightening physical market (see today’s oil forecasts story); Brent’s table close eased 1.47 percent to 113.19 dollars, though Friday session reporting put it nearer 116 dollars.
Precious metals and their miners went the other way. Gold fell 0.84 percent to 3,997.40 dollars an ounce, below 4,000 dollars for the first time in this run of tables, on a hot September PCE print and rising December hike bets, and silver fell 2.71 percent to 50.78 dollars. Gold miners and Rio Tinto each fell 3.12 percent, following the metals rather than any company news of their own.
Bonds rallied through the noise. The US five year yield fell 7 basis points to 4.80 percent and the ten year fell back below 5 percent (see today’s Treasury yields story), as the mix of 3.4 percent third quarter GDP growth and a cooler quarterly price run rate left the December Fed decision open in both directions.
The synthesis is a stagflation flavoured tape rather than a simple risk off day: growth data strong, monthly inflation hot, the AI complex being repriced on cash rather than revenue, and the physical oil market, crude, freight and refining margins together, still tightening.
Thirty one states have joined the federal emergency diesel relief effort that the USDA values at more than 640 million dollars, while tanker freight in the site tables jumped 5.62 percent to 949.43 dollars.
The USDA announced on Thursday its intent to purchase up to 472.5 million dollars of American grown and raised farm commodities under Section 32, led by 165.5 million dollars of dairy, for distribution to charitable food networks and nutrition programs.
Japan will gradually scale back its gasoline subsidy from December, raising the benchmark retail price by 5 yen a litre each month toward early spring, Prime Minister Sanae Takaichi said on Thursday, as the subsidy rate passed a record 50 yen a litre.
Ghana's Chamber of Oil Marketing Companies projects petrol prices will fall by up to 3.35 percent from November 1 while diesel rises by about 1.50 percent, as the National Petroleum Authority lifts the diesel price floor and cuts the petrol floor for the new pricing window.
China's state owned trader COFCO has made its first inquiry about buying US wheat since the September Trump Xi summit, for soft red winter wheat for shipment in early 2027, while no US wheat or corn sales to China have yet been recorded this marketing year.
BMI, a unit of Fitch Solutions, warns that a strong to very strong El Nino lasting through early 2027 threatens copper and nickel production through flooding in South America, hydropower shortages in Africa and water constraints at Indonesian nickel smelters.
Russia resumed granting departure permits to grain ships in the Sea of Azov on October 26 for the first time since July, with at least one vessel passing through the Kerch Strait into the Black Sea by October 29.
Cosco Shipping Holdings reported third quarter net income up 81 percent to 17.2 billion yuan, about 2.6 billion dollars, its biggest jump in two years, as geopolitical rerouting tied up vessels for longer and container rates surged.
The Liberian flagged container ship Contship Jet, carrying 421 containers, sank after being hit by three naval drones in Bulgaria's exclusive economic zone on Wednesday, with all 18 crew rescued and taken to Varna.
Nearly 70 percent of the world's visible exchange copper stocks, 718,000 tonnes, now sit in COMEX warehouses in the United States, a GEM Mining Consulting study found, while combined London and Shanghai inventories stand 11 percent below their 2015 to 2024 average.
LNG imports accounted for a record 31 percent of Colombia's monthly natural gas supply in July 2026, the EIA reported, as domestic production fell to an average of 673 million cubic feet a day in the first eight months of the year.
Cheniere Energy exported a record 188 LNG cargoes totalling 684 trillion British thermal units in the third quarter, up 17 percent on a year earlier, and raised its full year adjusted earnings guidance to between 8.75 billion and 9.25 billion dollars.
Two employees of contractor TJS Welding died after separate accidents on September 3 at Kinross Gold's Bald Mountain mine in Nevada, according to preliminary US Mine Safety and Health Administration reports disclosed in Kinross's quarterly results.
Rusal signed a memorandum with Ghana's state aluminium agency to form a joint venture mining and processing bauxite, targeting 5 million tonnes a year of production and 1.2 million tonnes of processing capacity, Russia's RIA agency reported.
Rio Tinto paused underground work at Oyu Tolgoi in Mongolia after a seismic event late Thursday triggered a rockfall, and by Friday was preparing a staged restart after inspections found the rockfall localised with no structural impact.
Morton Salt laid off 77 workers after closing its Ohio mine over a water inflow, Resolute held guidance on a stronger fourth quarter, and Implats said customers reaffirmed higher 2027 demand.
Iron ore futures in Singapore traded near 91 dollars a tonne on Friday, down more than 2 percent in October, heading for the lowest month end close since October 2022.
Critical One Energy signed a binding memorandum with Solar International Core Canada bringing 25 million Canadian dollars of strategic capital, a construction facility of up to 400 million, and exclusive offtake for up to 150 million pounds of antimony from Howells Lake in Ontario.
Centerra Gold lowered full year by product all in sustaining cost guidance at Mount Milligan to 1,100 to 1,200 dollars an ounce from 1,200 to 1,300 dollars, after a third quarter print of 985 dollars.
ArcelorMittal Liberia said it has invested nearly 4 billion dollars in Liberia and is ready to operate for another 40 years or more, while China's ambassador used the same conference to pitch Beijing as partner for Liberia's newly identified critical minerals.
Appian Capital Advisory is in talks with the European Bank for Reconstruction and Development and others on funds to invest in critical minerals projects, an Appian executive told Reuters, and an EBRD spokesperson confirmed discussions are ongoing.
Apollo Silver's preliminary economic assessment for its Calico project in California puts after tax net present value at 737 million dollars and internal rate of return at 25 percent at 55 dollars an ounce silver, for average output of 5 million ounces a year over 15 years.
Allied Gold has begun wet commissioning at its Kurmuk mine in Ethiopia, with ore feed expected this week, first gold soon after, and 25,000 to 35,000 ounces targeted in November and December.
Alamos Gold pushed completion of commissioning for the Island Gold stage 3+ shaft to mid 2027, about a quarter later than planned, and said the project will run about 5 percent over its 835 million dollar budget.
COREWEAVE INC 2.875% Convertible Notes due 2033, CUSIP 21873SAL2, printed at 78.3496 at 09:33:04 ET on 2026-10-30, down from a previous print of 83.9235.
COREWEAVE, INC. 9.00% senior notes due 2031, CUSIP 21873SAC2, printed at 83.375 at 08:59:29 ET on 2026-10-30, down from a previous print of 84.0 and 15.47 points below its latest fund mark.
Walmart has committed about 6 billion dollars under an expanded agreement with Symbotic to add automation at 25 US regional distribution centers.
DTEC Mineral and Metal Technology plans to invest 600 million dollars in a rare earth refinery in Malaysia, with a first plant targeted within three years.
Seplat Energy has announced an oil and gas discovery at its Aku-01 exploration well in Imo State, with preliminary estimates of 19 million barrels of oil and 157 billion cubic feet of gas.
PAG has agreed to buy a 51 percent stake in Evergrande Property Services for 4.03 billion Hong Kong dollars, about 514 million US dollars.
NBET Finance Company's 728.98 billion naira Series 2 power sector bonds have been listed on the Nigerian Exchange and the FMDQ Exchange.
Mobico, the owner of National Express, has agreed a recommended cash takeover by Leita Mobility that values its share capital at about 308 million pounds.
The US Justice Department has closed its investigations into two local asphalt mergers after referring them to state attorneys general, who secured divestiture settlements.
Jio Platforms' record offering has pushed India's IPO proceeds for October to a monthly record and put India at the top of the global IPO market, Bloomberg reported.
The roundup covers a Croatian solar acquisition in Romania, a 1.1 billion dollar ACORE credit fund close, a 1 billion dollar Kalshi raise and Perrigo's infant formula sale.
Exxon Mobil has increased its stake in the Mozambique gas project through an asset swap with Eni, Bloomberg reported on Friday.
CVC DIF has completed the acquisition of a majority stake in Cernaval, the ship repair yard in the Port of Algeciras Bay in southern Spain.
The European Commission has positively assessed Czechia's seventh and final payment request, worth 951 million euros under the Recovery and Resilience Facility.
The United Nations political mission in Somalia closes on Saturday, October 31, ending more than three decades of successive missions, with no agreed replacement to mediate a live dispute over the president's mandate and the terms of the next election.
The Potter County Republican Party has asked a federal judge to block certification of Texas's election results unless officials first hand count every paper ballot in the state, citing speculative risks from artificial intelligence and foreign made voting machine components.
Forecasting ahead of South Africa's November 4 local elections points to no outright majority in six of the country's eight metros, with polling showing nearly seven in ten voters favouring ANC and DA coalition governments where neither party wins alone.
Serbia's student backed election winners have demanded the resignations of the heads of the police, the BIA security agency and the anti terror unit, along with senior judicial figures, days after ending Aleksandar Vucic's party's 14 years in power.
Senate Majority PAC will spend 750,000 dollars on digital advertising in South Carolina, its first ever spending in the state, backing Democrat Annie Andrews against Republican Senator Darline Graham five days before the election.
Also notable in politics: the European Commission disbursed almost 6.5 billion euros to France, Austria and Luxembourg under NextGenerationEU, the State Department published a sanctions designations notice in the Federal Register, and Republican and industry officials told Politico they expect President Trump to speed up, not slow down, after the midterms.
A Federal High Court in Abuja has barred Imo State Governor Hope Uzodinma from presenting himself as the APC candidate for Imo West, ruling that former governor Rochas Okorocha won the party's May 18 primary and ordering INEC to publish Okorocha's name instead.
Venezuelan opposition leader Maria Corina Machado, in her first substantive remarks since returning home, said the United States has suggested presidential elections in 2027 and that Secretary of State Marco Rubio has laid out a transition sequence pointing to a vote next year.
Azerbaijan's President Ilham Aliyev will not attend Friday's Organization of Turkic States summit in Ankara, sending his foreign minister instead, in an absence widely read as a signal of strain with Turkiye over its criticism of Azerbaijan's school headscarf restrictions.
Opposition lawmakers set off flares and smoke bombs in Albania's parliament on Thursday and blocked a central bank bill vote, after weeks of student led protests demanding Prime Minister Edi Rama's resignation.
Colombia's central bank is expected to raise its benchmark rate by 25 basis points to 12.50 percent on Friday, October 30, with 17 of 31 analysts in a Reuters poll forecasting the increase, one expecting 75 basis points and 13 expecting a hold at 12.25 percent.
US federal debt held by the public reached 32.2 trillion dollars at the end of fiscal 2026 on September 30, equal to 100.03 percent of GDP, the first fiscal year end above 100 percent since 1946, after a deficit of 1.992 trillion dollars or 6.2 percent of GDP.
US Treasury yields fell on October 29 despite stronger than expected growth and firmer inflation, with the five year down 7.0 basis points to 4.80 percent, the 10 year down 5.6 basis points to 4.99 percent and the 30 year down 3.2 basis points to 5.33 percent.
Statistics South Africa's benchmarking and rebasing raised the measured size of the economy in 2022 by 4.9 percent to 6.99 trillion rand from 6.67 trillion rand, moving the constant price base year from 2015 to 2022, the agency said on October 29.
The PCE price index rose 0.5 percent in September and 3.6 percent from a year earlier, up from 3.4 percent in August, while core PCE rose 0.3 percent on the month and 3.1 percent on the year, the Bureau of Economic Analysis reported on October 29.
The Reserve Bank of India's October 30 auction sold the full notified 33,000 crore rupees across four securities with no devolvement on primary dealers, at cut-off yields of 7.1218 percent on the 6.20% GS 2029 and 7.8459 percent on the 7.63% GS 2056.
White House adviser Kevin Hassett said the Fed would act if October inflation comes in high, Christine Lagarde ruled out a French presidential run while planning a pro-European role at home, and the roundup holds the smaller primary releases from the SARB, the RBI, the Bank of Japan and the ONS.
The Canadian dollar touched 1.3966 per US dollar on October 29, its strongest level since September 16, as the Canada-US two year yield gap narrowed by 4.7 basis points to about 128 basis points after the Bank of Canada's hike.
Japan's Ministry of Finance reported total foreign exchange intervention operations of zero yen for the period from September 29 to October 28, 2026, it disclosed on October 30.
The European Central Bank is stepping up scrutiny of significant risk transfer deals backed by insurers and has warned lenders that complex structures face a longer wait for approval, Bloomberg reported on October 30.
Euro area companies told the ECB that pass-through of Middle East conflict cost increases to selling prices was only partial or limited for about 90 percent of consumer facing firms, and that wage growth is expected to slow to 3.0 percent in 2026 and 2.9 percent in 2027, the bank's latest contacts summary showed on October 30.
The Bank of Japan published updated quarterly JGB purchase schedules totalling 2,300 billion yen a month for October to November and a weekly timetable of unlimited fixed rate US dollar funds-supplying operations running from November 2026 to March 2027.
Toyota will build the 2027 bZ4X with Waymo's self driving system installed at its Takaoka plant in Japan, with testing in Japan in 2027 and deployment in Britain and other right hand drive markets in subsequent years, the companies said on Friday.
Cloud security startup Upwind has raised a 400 million dollar Series C at a 3.8 billion dollar valuation led by Bessemer Venture Partners, nine months after a 250 million dollar round at 1.5 billion dollars, after reportedly walking away from a Datadog acquisition offer at about the same value.
Ex-Palantir executives have launched Dream with 17 million dollars from a16z to build AI world models for construction, Deepgram has acquired Pipecat maker Daily, a short seller report claims Cerebras chips have shorter lifespans than the company's statements suggest, and KBRA has assigned preliminary ratings to up to 525 million dollars of US Signal notes secured against ten data centres.
Rivian's R2 outsold its R1 models and delivery van in its first full quarter, lifting deliveries to a record 19,248, while the Volkswagen joint venture contributed 354 million dollars of third quarter software revenue and chief executive RJ Scaringe said an autonomy milestone unlocking 250 million dollars of Uber funding should be hit this year.
Reddit will shift to a logged-in only experience, testing first in select markets outside the United States, after search referrals fell by more than one million a week on average during October and United States daily active uniques fell 2 percent to 50.7 million, their first decline since the company listed.
Mistral AI has released the open weights of Mistral Large 4, a roughly one trillion parameter mixture of experts model pitched at coding and defensive cybersecurity, while stating plainly that it sees a potential for the model to uplift real attacks.
KLA reported record September quarter revenue of 4.14 billion dollars, up 29 percent year on year, with net income of 1.55 billion dollars, and guided December quarter revenue to about 4.7 billion dollars, plus or minus 200 million dollars.
Amazon chief executive Andy Jassy said AWS, already a 184 billion dollar annualised revenue business growing 39.3 percent, can grow by more than 40 percent in each of 2027 and 2028 and reach one trillion dollars of annual revenue within five to ten years.
General Motors will pay 220 million dollars to settle claims by 35 states and the District of Columbia that it sold drivers' location and driving behaviour data, collected through its OnStar Smart Driver programme, to data brokers who supplied insurers.
The Federal Communications Commission has approved Amazon Leo's 11.5 billion dollar acquisition of Globalstar, clearing the transfer of its licences and about 25 megahertz of mobile satellite spectrum under Order DA 26-1160, released October 27.
CISA added two vulnerabilities to its Known Exploited Vulnerabilities Catalog on October 29, CVE-2026-97229 in GitLab Community and Enterprise editions and CVE-2026-76418 in Cisco Secure Firewall ASA and Secure FTD software, both on evidence of active exploitation.
Genmab's market value rose by more than $7 billion to pass $35 billion after its Phase 3 win, and the UK Autumn Budget carried more than £1 billion of life sciences investment pledges, leading the smaller life sciences items for October 30.
The Department of Labor finalized a rule on October 29 requiring pharmacy benefit managers to disclose their compensation, including rebates and spread pricing, to large self insured employer plans, with requirements applying to plan years starting July 1, 2027.
Iovance reported on October 29 that lifileucel produced a 24.6 percent response rate in 69 patients with previously treated non squamous lung cancer, rising to 59.1 percent in a retrospectively defined biomarker subgroup of 22 patients, and will test that subgroup prospectively in a new registrational intent study from November.
Incyte reported third quarter total revenue up 14 percent to $1.56 billion on October 29 and raised full year total net sales guidance to $5.210 billion to $5.300 billion, as Opzelura sales rose 36 percent to $255 million.
Gilead reported third quarter product sales up 13 percent to $8.3 billion on October 29 and raised full year product sales guidance to $31.0 billion to $31.3 billion, from $30.1 billion to $30.4 billion, as HIV sales rose 18 percent.
Dren Bio announced on October 29 the closing of an oversubscribed $350 million private financing, co led by Juvia Group and Lightspeed Venture Partners, to fund late stage development, regulatory submission and a planned commercial launch of its CD94 antibody dibotatug.
Bristol Myers Squibb reported third quarter revenues up 7 percent to $13.1 billion on October 29 and raised full year 2026 revenue guidance to $49.75 billion to $50.25 billion, as growth portfolio revenues rose 12 percent to $7.7 billion.
AstraZeneca reported third quarter revenue up 7 percent to $16.21 billion on October 30 and launched a restructuring programme meant to deliver about $1.5 billion in annualised benefits, at one time costs of up to $2.0 billion, to fund its pipeline.
Aspen Neuroscience priced its initial public offering at $15 per share on October 29, raising $140.6 million gross, while Bambusa Therapeutics upsized its offering to 10,555,555 shares at $16 for gross proceeds of $168,888,880, with both stocks set to debut on Nasdaq on October 30.
Alnylam reported third quarter total revenue up 17 percent to $1.458 billion on October 29, with Amvuttra sales up 65 percent to $1.130 billion, but said full year transthyretin revenue will likely land near the low end of its $4.2 billion to $4.5 billion range.
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