Markets 8-Hour Briefing
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Last updated: October 21, 2026, 3:20 AM ET
Earnings & Corporate Results
CATL's slower-than-expected quarterly profit growth has raised concerns for China's battery rivals, while the company's third-quarter net rose 14.5% wsj.com as the world's largest battery maker reported strong demand. América Móvil also posted higher wsj.com third-quarter profit, with net income up 7%. Capital One reported higher wsj.com profit of $3.54 billion as Discover integration continues.
Airlines & Aerospace
Alaska Air Group swung to a third-quarter loss wsj.com of $147 million as higher fuel costs weighed on results. United Airlines missed estimates bloomberg.com and forecast weaker earnings, with its fourth-quarter guidance of 50 cents to $1.50 a share underwhelming wsj.com investors. Boeing won approval ft.com for its 737 Max 10 jet after a long delay, a boost nytimes.com to the company's turnaround efforts.
Technology & AI
SpaceX swung to a profit nytimes.com as its artificial intelligence business grew, and on its earnings call the company outlined five key takeaways wsj.com, including projected revenue. Tesla and SpaceX boards are exploring ft.com a potential multitrillion-dollar merger, with Elon Musk calling it a "good idea." Super Micro Computer shares jumped wsj.com after preliminary revenue topped guidance, lifting AI stocks broadly. Meanwhile, the next wave of AI debt pushed bloomberg.com credit swaps to record highs. Netflix revenue growth slowed wsj.com as it overhauls programming, and its downbeat outlook ft.com sent shares lower.
Markets & Commodities
Asian shares and US futures rose bloomberg.com on an AI-trade revival, while U.S. stocks ended mixed wsj.com as strong earnings offset worries about AI credit. Stocks reversed wsj.com course on hopes of U.S.-Iran diplomacy. Gold steadied bloomberg.com as conflicting signals on ending the Iran war clouded the rate outlook. Oil steadied after a choppy session, and oil futures settled lower wsj.com as Middle East supply risks mounted. U.S. natural gas futures extended their decline wsj.com on a mild weather outlook. The WSJ Dollar Index fell 0.25% wsj.com to 96.96.
Policy & Energy
Britain is said to approve nytimes.com new gas drilling in the North Sea, with the Jackdaw field set to be the first new project of its kind. Ministers will give the go-ahead ft.com on Wednesday. The UK budget takes a cautious approach ft.com, prioritizing bond market stability. Pensions invested £11bn ft.com in UK private markets, mostly in real estate.
Deals & Finance
Larry Ellison went on a borrowing spree to bankroll his son's Warner Bros. bid, putting up shares in Tesla, SpaceX and Paramount Skydance as collateral. A billionaire sought a Trump pardon, and his family paid Alina Habba a $50 million deal.
Coming Up
Tesla and SpaceX formed committees wsj.com to discuss a potential merger, with Musk saying there is "a lot of merit" in combining them. Anthropic's IPO is the subject ft.com of a live Q&A with the FT's Richard Waters.
Private Equity
Last updated: October 21, 2026, 3:30 AM ET
Venture & Growth
Starling Bank founder Anne Boden has sold her final stake sifted.eu at a cut-price valuation of £1.7bn, according to reports.
Buyouts & Packaging
American Industrial Partners and Silgan have agreed a $3.4bn takeover peinsights.substack.com of Trivium Packaging, with AIP set to take a 40% stake in a new business.
Sector Investment
Last updated: October 20, 2026, 5:10 PM ET
Private Credit
Foundation Credit has closed its second infrastructure fund infrastructureinvestor.com at $540 million, slightly exceeding its target. The vehicle focuses on mid-market, locally based US infrastructure debt.