Sanitation

Daily Briefing

By Kate Turton

Hello. Workers across Spain stage a general strike as anger rages over housing, Russia, Ukraine and the US start second day of peace talks, and a Chinese university bought Nvidia H200 chips despite the US blacklist.

Editor's note: Tuesday's Daily Briefing incorrectly stated that the Pope Leo statue in Peru was 6 feet tall. It is in fact 46 feet tall. We apologize for the error.

Today's Top News

Smoke rises after fireworks exploded next to demonstrators, during a 24-hour nationwide general strike. Barcelona. REUTERS/Albert Gea

Spanish workers went on a general strike, setting up picket lines despite stormy weather in a mass protest against the country's housing affordability crisis a few weeks before ‌a snap general election.
At least 300 schools in Italy were evacuated after receiving the same ‌bomb alert message, the education minister said. The security alert came amid rising concerns in Europe about so-called hybrid warfare threats which have targeted supermarkets, blood banks, air ⁠traffic and TV broadcasters.
France is pointing the finger at Iran's Revolutionary Guards for a hack on French supermarket fridges and freezers and has summoned Iran's ambassador. Gabriel Stargardter tells the Reuters World News podcast that France's response could go beyond sanctions.
Global health experts will determine in the coming days whether the US has lost its official measles-free status, a public health achievement it has held since 2000 now in jeopardy after outbreaks across the country sickened thousands of Americans.
Russian, Ukrainian and US officials began a second day of peace talks, resuming meetings which Kyiv and Washington depicted as constructive but produced no early signs of a breakthrough.
Republicans in the US House of Representatives blocked an effort to impeach Defense Secretary Pete Hegseth, winning a reprieve for the polarizing Pentagon chief before Democrats take control of Congress next year and possibly try again.
Two media groups named British comedian and bestselling children's author David Walliams as the high-profile figure who had tried to prevent allegations of sexual misconduct being published by saying he would take his own life if they were revealed.

Business & Markets

NVIDIA CEO Jensen Huang speaks during his keynote at the NVIDIA GTC conference, in Berlin, Germany. REUTERS/Annegret Hilse/File Photo

A Chinese university with deep ties to the People's Liberation Army bought Nvidia's powerful H200 AI chips last month despite being on a US export blacklist, procurement records show, highlighting gaps in Washington's efforts to curb China's access to advanced ‌technology.
A US stock market shake-out has investors sifting through data to judge whether the selloff is over. Early indicators say it is too soon to sound the all-clear.
Indian customs is holding dozens of containers of bulk Scotch imported by Pernod Ricard and Diageo as investigators press for a 150% tariff, even though the companies ‌rely on a New Delhi assurance of lower duties under the India-UK trade pact, according to four people with knowledge of the matter and a confidential government memo.
A tiny, $900 wearable device being developed by an Indian billionaire entrepreneur and showcased by some of the country's top sportspersons has sparked criticism from doctors who say its claims of tracking blood flow to the ‌brain are exaggerated.
Hims & Hers Health said it will begin selling three wellness products in November, including a peptide that has not been approved by the US Food and Drug Administration, after regulators relaxed guidelines on compounding the products that have attracted interest from fitness and longevity enthusiasts.

How a Vitol trader's ties to JD Vance helped land a prized Venezuela oil contract

Trump and Vance attend a meeting with oil industry executives. REUTERS/Kevin Lamarque/File Photo

A week before the United States invaded Venezuela in January and captured its authoritarian leader, US Vice President JD Vance flew in Air Force Two for a visit to Montana's Yellowstone Club, an ultra-exclusive ski and golf resort.

There, he met an old friend and early financier of his political career, John Addison, a gasoline trader with commodities giant Vitol, according to a person familiar with the matter.

Vance and Addison talked about Venezuela, according to the person, who was given an account of the meeting from Addison. Vance was particularly interested to know how quickly Venezuelan crude could be sold if the US hypothetically gained control of the country's oil supplies, the person said. Addison assured Vance that Vitol was uniquely placed to do that job.

Read more

And Finally...

The art installation "Possible Landscapes" by Charlotte Colbert, part of the sixth edition of "Forever Is Now". REUTERS/Mohamed Abd El Ghany

A new exhibition featuring international artists has transformed Egypt's iconic Giza pyramids into an open-air art gallery.

View the pictures

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Morning Bid Europe

A look at the day ahead in European and global markets

By Stella Qiu, Australia Economics & Markets Correspondent

Data refreshes every time you open this email. For more European market news, click here. Please send any feedback to morningbid@thomsonreuters.com.

Just as investors were hoping falling oil prices had cooled inflation fears, a stubbornly hot US CPI report and a chorus of hawkish Fed speak reminded everyone that the question isn't whether rates rise again, it is by how ‌much.

Overnight core inflation landed smack on 0.3%, exactly the number Fed Governor Waller had flagged would get him mulling a jumbo 50-basis-point hike in December. Two-year Treasury yields surged 18 basis points overnight, with the selling spreading to bond markets across Asia.

Today's Market News

Fed rate hike bets soar

CoreWeave logo in this illustration taken November 6, 2026. REUTERS/Dado Ruvic/Illustration

A quarter-point rate hike in December is now fully priced in, with a 10% risk that the Fed could even hike by 50 bps. Goldman Sachs was quick to call another one ⁠in March. Markets went even further to price in a third rate rise by the middle of next year.

The dollar surged and the whipping boy was the Aussie, which slid nearly 1% overnight to hit seven-month lows as traders bet its central bank is done tightening after five rate hikes this year and cuts could even arrive next year.

Stocks were bracing for a shaky open in Asia but proved resilient, with bubble fears flaring and fading almost by the hour.

Graphics are produced by Reuters

AI bulls prevail

CoreWeave, the firm at the centre of AI bubble fears, showed the boom isn’t short of customers. Revenue jumped 168%, sending its shares up 8% in extended trading after a 40% slide over the past month. The AI cloud ‌company ⁠even forecast a path to profitability in the first half of 2028.

Nvidia’s selloff also steadied after two days of steep losses wiped a stunning $430 billion off its market value, as speculation swirled over whether CEO Jensen Huang would stay on following his affair with a suspected Chinese spy.

Throw in Anthropic pressing ahead with its $1.4 trillion IPO, and risk appetite found its footing again: Nasdaq futures rallied ⁠1.3%, lifting Taiwanese and South Korean shares up by 2.7% and 2.1%.

SoftBank shares also trimmed early losses to be down just 1% after reporting a $7 billion second-quarter loss tied to the hefty costs of building out US data centres.

So Europe wakes up to ⁠a market that wants to have it both ways: pricing in a more hawkish Fed path while still buying the dip in AI-adjacent names on every scrap of good news. Its pan-region stock futures are up 0.6%.

For now, ⁠the bulls have won the day. Whether they can hang on once the Fed meets in December and interest rates rise is the trillion-dollar question.

Key developments that could influence markets on Wednesday:

US Veterans Day holiday
Germany CPI data for October
ECB President Christine Lagarde takes part in a panel discussion in Paris

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.