Elections, central banks and earnings on the menu

A look at the day ahead in European and global markets

Morning Bid Europe Morning Bid Europe A look at the day ahead in European and global markets By Wayne Cole, Chief Correspondent, Treasury   Data refreshes every time you open this email. For more European market news, click here. Please send any feedback to morningbid@thomsonreuters.com. It's not been a good start to the week for right-wing politicians, with Brazilian President Luiz Inacio Lula da Silva winning a fourth term and Serbia's Aleksandar Vucic losing to a student-led ‌protest movement. The Brazilian real is yet to trade, though a Brazilian ETF traded in Tokyo has shed almost 15%, reversing gains made when Senator Flavio Bolsonaro led in the first round of voting. Bolsonaro later refused to concede defeat, saying he would challenge the result.  Next up is Benjamin Netanyahu's Likud party in Israel. All three of the right-wingers were supported by President Trump, whose ⁠party faces its own vote test next week with the midterms. Today's Market News Italy may hike tax on energy firms to fund budget, sources say Soccer club Valencia says group backed by KKR founders buys 42% stake Bond dealers see small rise in UK debt issuance after budget, more in 2027 Heidelberg Materials sees early signs of construction recovery, CEO says Munich Re raises full-year profit guidance after stronger-than-expected quarter Oil price flag for central banks Oil pumps operate after sunset outside Vaudoy-en-Brie, near Paris, France, March 18, 2026. REUTERS/Christian Hartmann Otherwise, it's been a guarded start in markets with Wall Street futures and most of Asia down slightly. Oil prices have eased somewhat, perhaps in part on reports Qatari mediators were in Tehran on Sunday as part of an effort to de-escalate regional tensions in coordination with the United States. Then again, Brent futures jumped over 6% last week to their highest weekly close since mid-2022 as Houthi attacks in Saudi Arabia stoked concerns over energy supplies. Trump on Friday said the US may carry out another military operation against Iran, while Tehran ‌has ⁠threatened reprisals including hitting submarine cables. Such high energy costs mean central bankers meeting this week are likely to sound hawkish, even if they don't tighten this time. Markets are wagering on hikes from central banks in Canada and New Zealand this week, while assuming the US Federal Reserve, Bank of Japan and the European Central Bank will stand pat for ⁠now. Graphics are produced by Reuters Hyperscaler earnings watch Earnings highlights will include the hyperscalers Alphabet, Microsoft  and Amazon, among one-third of S&P 500 companies reporting. Results from Intel and Sandisk also could influence the AI trade. Consensus on Microsoft is for $90.6 billion in revenue and an ⁠adjusted EPS of $4.73, with Amazon at $202 billion in revenue and EPS around $1.97. Alphabet revenue is seen at $128 billion and EPS of $3.00. In Asia, SK Hynix and Samsung Electronics both report this week. SK Hynix also ⁠said it will announce shareholder return measures on Wednesday, responding to a report that it is considering a special dividend of about 16 trillion won ($12 billion).      Key developments that could influence markets on Monday: German IFO survey   Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.   Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website   Morning Bid is sent every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions   © 2026 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036

Inside the US-Starlink relationship

Plus, a deal brokered by Melania Trump

Weekend Briefing Weekend Briefing From Reuters Daily Briefing   By Robert MacMillan, Reuters.com Weekend Editor Thanks very much for reading the Weekend Briefing. France’s interior minister urged police to be “hyper-reactive” as new protests begin. Gunmen killed 8 people and wounded 40 in an attack on a church in Jordan. And Donald Trump is putting the body into the body politic. Inside the US-Starlink relationship   REUTERS/Sam Wolfe Not the first time: The Biden and Trump administrations asked SpaceX several times to turn its Starlink service off or on in various countries, sources tell our reporters. In the most recent known case, Ukraine found its service throttled as it fought Russia. Ukraine’s defense minister says its speeds have returned to normal. Humanitarian corridor: The White House credited Melania Trump with brokering a ceasefire in the Russian-occupied town of Oleshky while Volodymyr Zelenskiy said peace negotiators would meet next month for new talks. Russian diesel is coming to America In the flow: A tanker is carrying 40,000 metric tons of diesel to the USA from the Baltic port of Primorsk. Trump hopes that cheaper diesel will lead to more votes for Republicans in the midterm congressional elections. We report on heating oil’s emergence as a hurdle to the party’s Senate candidates. American opinion: Midterm voters tend to choose their candidates more on economic issues than on world affairs, but as our reporter Matt Spetalnick explains, Trump’s tariffs and his campaign against Iran are turning foreign policy into a domestic issue. And while I’m on the topic of elections, Trump wants a Senate victory in Alaska – or else. What’s in your emergency kit? Take another look: Britain advised the public to keep three days of emergency supplies at home, including bottled water and non-perishable food. The exposure this week of the PHP software glitch and a summer of heat, drought and wildfires should make this need clearer than ever, the government said. And act: Our reporter A.J. Vincens offers some steps that you can use to stay safe online, even when problems like the PHP vulnerability surface. American spirits Liquor and weapons: The Supreme Court will decide on the legality of a federal law ban on the home distillation of alcoholic spirits that was enacted in 1868 to crack down on tax evasion. Northrop Grumman and RTX raised their annual profit forecasts thanks to demand from military programs. AI and outsourcing: A cybersecurity researcher spent a few weeks watching as a Chinese-speaking hacker broke into websites belonging to more than 100 companies, including the farm-equipment maker Deere. Here’s the interesting part: the hacker did almost none of the work – AI agents did. Don’t sit so close to me Flight plan: US airlines are getting better financial results from charging higher fares instead of slashing prices to fill empty seats. Could this mean that we won’t have to hear the phrase “it’s a very full flight today” when we’re boarding? Pay up: European airfares will see their biggest increase in history next year, Ryanair’s chief executive said. Michael O’Leary puts it down to the cost of jet fuel and fewer available seats as a result of bankruptcies and takeovers. Before I forget… It started with a love affair and ended with the arrest of a Romanian on charges of spying for Ukraine. But it wasn’t an arrest at all. Fire engulfed the former Nazi guest house near Berchtesgaden known as the Eagle’s Nest. Kamta Prasad would like to vote in India’s elections. Now all he has to do is convince the government that he’s not dead. Brazilians choose between Lula and Flávio Bolsonaro in Sunday’s presidential runoff. Lula is catching up with a nation of online voters with the acquisition of his first mobile phone at the age of 81. Critics say the Czech ruling coalition’s changes to public media funding could weaken journalistic independence. A TV reporter helped rescue a man after floodwaters in Australia engulfed his car. The video is crazy. The latest mission to find the wreckage of Amelia Earhart’s plane in the South Pacific turned up nothing more than a cluster of washed-up trees.   Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website   Weekend Briefing is sent once a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions   © 2026 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036