Public Markets 24-Hour Briefing
×Last updated: October 19, 2026, 4:20 PM ET
Markets & Equities
US stock futures rebounded after Friday's tech selloff, while the Nasdaq 100 climbed on a revival of the AI trade. S&P 500 futures rose 0.5% early in New York trading. Morgan Stanley's Michael Wilson urged investors to prepare to add risk as a months-long pullback ends. Asian markets were mixed, with the Nikkei down 1.8% in early trade, and Indonesian stocks deepened their selloff after an MSCI warning.
AI & Technology
CoreWeave was upgraded to buy at Goldman Sachs on what the bank called overblown debt worries, and JPMorgan defended its business model. Investors have also lost confidence in data centre bonds amid AI doubts. Quantinuum says it has a path to fault-tolerant quantum computing by 2029. The Homeland Security Department ordered DeepSeek technology removed from federal civilian IT systems.
Anthropic & SpaceX
Anthropic will commit 5% of its shares to a public benefit fund ahead of its IPO, and a five-person trust has drawn scrutiny. Elon Musk pledged a SpaceX share for every American child, following the Anthropic move.
Deals & Corporate
Silgan agreed to combine with Trivium Packaging in a $3.4 billion deal. Roche partnered with China's Hansoh in a deal that could top $15 billion. Kimberly-Clark is offering bonds to help fund its Kenvue takeover. Daiichi Life bid $4.4 billion for the rest of Challenger, and Cleanaway shares jumped 21% on a $6.5 billion EQT takeover. Lindt brought back former boss Dieter Weisskopf as steep price rises hit chocolate demand. H.B. Fuller rejected Ancora's latest bid. The EU sent KKR a formal objection over information provided in the Net Co deal.
Banking & Finance
Wells Fargo says earnings season is off to a weak start. Jamie Dimon warned of war and inflation risks to the US economy, while JPMorgan's security initiative is financing $230 billion in its first year. The Bank of England is scrutinising Barclays over claims traders misrepresented private credit exposure. Optiver is seeking $900 million in debt financing.
Commodities & Energy
Oil futures pulled back after President Trump waived new Russia sanctions, and Brent fell to $108 amid supply concerns. Iran's main oil terminals remain empty under the US blockade. Gold edged higher as crude fell. Wheat touched a two-month low. China's coal output dropped 6.8% year on year in September, raising winter supply fears. Copper traders are growing wary of the bull market amid tariff uncertainty.
Fixed Income & Currencies
French government bonds dropped as rioting heaped pressure on the government, and the euro fell on Russia risk and protests. Gilts face a budget test as bond market calm holds. China may shift its policy rate to the overnight tenor, potentially opening the way to easing. Deutsche Bank turned bullish on the naira.
Europe & Global Politics
France's protests turned into riots, and officials acknowledged a failure in handling them. Zelensky accused Trump of pushing Ukraine to surrender to Russia, and Trump defended easing Russia sanctions. Houthi strikes killed dozens at a Yemeni military camp. Saudi Arabia postponed its FII investment event until 2027. Italy faces parallel protests in the north and south. The EU dropped its push for a global Arctic drilling ban.
US Politics
Republicans are vastly outspending Democrats on Senate races, and GOP ads barely mention Trump ahead of the midterms. Trump says work will begin immediately on a disputed DC golf course.
Coming Up
Trump's plan to begin transforming the DC golf course is set to start within four weeks. Talarico launches a Texas campaign tour ahead of the Senate election, and Japan's MMX mission to Mars is due to launch early Tuesday morning Japan time.