Markets 24-Hour Briefing

Public Markets

Last updated: November 3, 2026, 4:40 AM ET

Macro & Central Banks

Treasury yields wsj.com rose in early European trade as U.S. voters headed to the polls in the midterm elections, with investors weighing the outcome's implications for fiscal policy. The Bank of England's rate path is dividing traders and economists bloomberg.com ahead of an expected hike. Australia's central bank lifted rates ft.com to 4.85%, the highest level since the 2008 financial crisis, marking its fifth increase this year as inflation remains above target. Treasuries extended their slide bloomberg.com past the month's decline as oil prices dropped, leaving the prospect of Fed rate hikes in question.

Energy & Commodities

Oil fell more than 4% wsj.com as renewed diplomatic efforts to end the conflict between the U.S. and Iran eased supply fears. Iran's president said Tehran could reopen the Strait of Hormuz nytimes.com within two days as part of a U.S. deal. Gold jumped the most in two months bloomberg.com on hopes for a peace agreement, though it remains on track for its worst annual loss in more than a decade. The International Energy Agency warned that the Iran war threatens a record annual drop wsj.com in global LNG supply. Vitol's chief executive expects global oil demand bloomberg.com to fall by about 3 million barrels a day in 2026. Saudi Aramco posted a 9% rise nytimes.com in third-quarter profit despite attacks on its pipelines and refineries. Drones struck Russia's Yanos refinery bloomberg.com in a large overnight attack. XRG agreed to pay $1.45 billion bloomberg.com for a Shell stake in an Australian LNG plant. CVR Energy is near a $4 billion deal wsj.com for Marathon's refineries.

Equities & Tech

U.S. stocks ended mixed wsj.com as AI concerns offset oil's decline. Tech stocks entered a correction bloomberg.com on AI and midterm election risks. Asian shares fell bloomberg.com after a selloff in U.S. chipmakers deepened. Nvidia told cloud clients ft.com to reduce their China exposure. Apple warned of ft.com "unprecedented" memory chip costs that will hit margins, and its shares dropped wsj.com as new CEO John Ternus signaled weaker margins ahead. Palantir posted a profit surge wsj.com as commercial revenue overtook government business. Marvell agreed to buy Lumentum ft.com in a $115 billion all-stock AI deal. Oracle is raising $20 billion wsj.com to fund its AI ambitions. Anthropic revealed $17 billion nytimes.com in quarterly revenue as its IPO approaches, and investors are pushing for a valuation wsj.com closer to $1.5 trillion. Canada's pension chief warned of bloomberg.com "bubble-like" AI exuberance.

Banking, Finance & Deals

Brookfield and Lunate are launching bloomberg.com a new Gulf property development firm, while Brookfield and QIA agreed to invest bloomberg.com in data centers with Drax. Intesa Sanpaolo will launch bloomberg.com its €33 billion takeover bid for Monte Paschi later this month. Blackstone leads a $3.1 billion investment wsj.com in Mitsubishi's stake in LNG Canada. Millennium pulled over $1.5 billion bloomberg.com from two external hedge funds. Elliott warned of wsj.com "fear of getting obliterated" in the market. Coal India plans a $1 billion IPO bloomberg.com for its MCL unit as soon as this month. Huafa's $62 billion debt strain shook China's credit market bloomberg.com, causing its worst selloff in two years. Binance resumed withdrawals ft.com after the $6.3 billion hack, with users pulling $5 billion, and the group pledged to reimburse victims.

China & Asia

China halted new listings ft.com to bolster struggling markets after the CSI 300's worst month in over a decade. Beijing is reviving bloomberg.com 2024 stock rescue tools, though skepticism remains. The PBOC's FX reserve move snapped the yuan's winning streak bloomberg.com. India's finance minister said she will consider bloomberg.com tax changes on equity gains. Indian bonds rallied bloomberg.com as crude fell.

Policy, Politics & Geopolitics

The U.S. military struck Iran's Qeshm Island nytimes.com in what officials called a defensive measure, with no immediate plans to escalate. The Trump administration asked the Supreme Court nytimes.com to intervene in a California ballot case. A judge dismissed Trump's lawsuit nytimes.com seeking Harvard admissions data. Democrats face renewed divisions nytimes.com over Israel. Voters in dozens of cities bloomberg.com will decide on data center restrictions. The U.S. is pushing to restore wsj.com Russian gas sales to Europe via Ukraine.

Coming Up

The U.S. midterm results are due ft.com as voters go to the polls today. Stock bulls expect a bounce bloomberg.com after the vote, according to Morgan Stanley's Wilson. Anthropic's IPO is approaching bloomberg.com on the Nasdaq.

Private Equity

Last updated: November 3, 2026, 4:40 AM ET

Venture & AI Funding

Creandum sifted.eu raised $750m for its largest-ever fund, betting on the AI boom and backing companies such as Lovable. Trajectory raised $45M techcrunch.com to make AI model training accessible to nontechnical experts, and the one-year-old startup is now valued at $300 million. Europe's deep-tech scene is also drawing capital, with Hypersonica securing €100m sifted.eu from Lightspeed and General Catalyst as missile defence demand rises. Meanwhile, a mapping of 74 European photonics startups sifted.eu shows light-based technology emerging as a power source for AI data centers.

Venture Concentration

Record venture funding in 2026 is increasingly concentrated in a small number of massive AI rounds, according to Crunchbase News news.crunchbase.com, even as total dollars hit new highs. The gap between headline totals and the number of checks written underscores how narrowly capital is flowing.

Large Buyouts & Infrastructure

Stonepeak has completed its acquisition of a 65% controlling stake peinsights.substack.com in Castrol from bp, a deal that values the lubricants business at $8bn, with bp banking $6bn. Stonepeak also closed its purchase of Estia Health peinsights.substack.com as Bain exits the Australian aged care operator. Blackstone Credit & Insurance has led a $3.1bn investor group into Mitsubishi's LNG Canada stake peinsights.substack.com alongside four Canadian institutional investors.

Fund Launches & Continuation Vehicles

Apollo has launched European Credit Company peinsights.substack.com, a standalone lending platform with $11.5bn of capacity. AE Industrial Partners closed an $850m continuation vehicle peinsights.substack.com for its Blue Raven asset, led by Lexington. Lazard completed its acquisition of Campbell Lutyens peinsights.substack.com and merged it into the newly formed Lazard CL.

Aviation & Nature Finance

I Squared Capital and ADIA are backing Avolon's new aircraft leasing platform peinsights.substack.com with a $1.4bn seed portfolio. Separately, Eurazeo has been appointed to manage a $40m nature investment fund peinsights.substack.com backed by Bank of America and King Charles' Sustainable Markets Initiative.

Deal Dealmaking Ahead

Apollo takes a minority stake peinsights.substack.com in Mubadala Capital, one of several notable moves in this week's private equity roundup. The Tech Crunch Founder Summit takes place November 4 in Boston techcrunch.com, focused on founders building outside Silicon Valley.

Coming Up

The Tech Crunch Founder Summit happens November 4 techcrunch.com in Boston.

Sector Investment

Last updated: November 3, 2026, 4:40 AM ET

Real Estate Investment

Industry leaders are calling for unified action perenews.com as the total portfolio approach gains adoption across real estate allocations. Meanwhile, Keppel perenews.com reports growing investor demand for its third Asia-Pacific data center fund, with its CEO saying the $2bn vehicle is on track to surpass its target.

Infrastructure & Private Markets

Ares infrastructureinvestor.com expects a final close above $6bn on its debt fund this month, while Dexus is preparing to sell infrastructure funds and La Caisse is pursuing a $1.7bn tower portfolio play.

Healthcare Private Equity

Success in healthcare private equity partnerships thehealthcareinvestor.com depends on the factors examined in the latest Becker Private Equity & Business Podcast episode.

Coming Up

Ares is expected to reach final close on its debt fund infrastructureinvestor.com this month.