Nasdaq Hits New Record as Bond Yields March Higher
The yield on the 10-year Treasury touched a fresh 24-year high, as a global bond rout and AI-investing boom ripple through markets in tandem.
----
U.S. Services-Sector Activity Continued to Expand in September
The Institute for Supply Management's purchasing managers index for services providers was 54.9 in September, compared with 55.4 in the prior month.
----
Spanish Leader Calls for Elections, Riding Wave of Anger Over Housing
Prime Minister Pedro Sánchez is gambling that outrage over soaring rents will help his socialist party secure a majority.
----
Euro Drops to 16-Month Low as French Fiscal Strain, Spanish Snap Election Weigh
The euro traded at $1.122, its lowest level since May 16, 2025.
----
Germany and France Are Proposing a New Weapon to Counter Flood of Chinese Goods
The countries, ahead of an EU leaders' summit next week, are recommending lowering the bar for blocking Chinese products.
----
Aramco CEO Says Oil Inventories Could Take Two Years to Rebuild
Amin Nasser said the global supply cushion was scarily thin, with estimates less than 6 billion barrels of commercial inventories remain-and most of that wasn't practically available.
----
Spending on AI Is Becoming Almost Impossible for Businesses to Budget
AI use is measured in tokens, but the models' use of tokens at any given task can be unpredictable.
----
ECB's Lane Sees 'Demand Destruction' Muting Energy Impact On Inflation
The recent rise in energy prices may cool demand in the eurozone that would limit the need for rate rises to contain inflation, ECB's Chief Economist Philip Lane said.
----
Saudi Arabia Slashes Crude Prices for Asia as Exports Recover
Saudi Aramco lowered the official selling price for November shipments of its Arab Light crude to Asia by $3 a barrel to a discount of $5 a barrel to the Oman/Dubai benchmark.
----
What Bessent is now saying after bond yields didn't stop rising on 'I am the house' remark
In a televised interview with Axios, Treasury Secretary Bessent defended his department's record in the bond market and walked back his "I am the house" declaration from a month ago.
----
Hormuz Gridlock Risks Global Food Crisis, International Chamber of Commerce Chief Says
Focus has been on the resulting rise in oil prices, but it is potential food shortages the world should be paying attention to, ICC secretary-general John Denton said.
----
The Mighty American Consumer Is Crashing Through Inflation and Driving Growth
Spending is rising because prices are climbing and Americans are buying more stuff.
----
How Gas, Diesel and Electricity Prices Are Squeezing American Voters
Many say energy prices are top of mind as they head to the ballot box in November.