Reuters Morning Bid

Oil prices are heading for their biggest weekly drop since the pandemic as a Democratic sweep of Congress fuels hopes for a de-escalation of the Iran war. Markets rally as falling energy prices lift sentiment, even as AI stocks remain under pressure from worries over spending and regulation. And the Bank of England is expected to deliver its first rate hike in three years as sterling climbs and inflation pressures persist.

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Today's recommended read: Surge in 2028 US presidential bets reframes markets after midterms by Mike Dolan

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Democrats take control of both houses of Congress, raising questions about AI regulation and the future of the data-centre boom. Oil prices steady as markets assess what the election result could mean for the Iran war and US policy in the Middle East. And investors weigh what the outcome means for tech stocks, Treasury yields and the dollar.

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Today's recommended read: Asia hopes Democrats can provide relief from Trump's Iran war, tariffs by Clyde Russell

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Americans head to the polls today in midterm elections that could shape the final two years of President Trump's agenda. Oil prices swing after US strikes on Iran complicate hopes for diplomacy. And Apple shares fall despite an earnings beat as investors focus on margin pressure and rising chips costs.

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Today's recommended read: Fridge hacks and finance attacks flag AI insecurity by Mike Dolan

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A brutal October for big tech, with Intel down nearly 30% and the Nasdaq logging its worst monthly loss since March 2025. Apple reports today, Americans head to the polls tomorrow, and Fed officials say another rate hike is coming.

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Today's recommended read: Big Oil's spending caution speaks louder than its profits, Ron Bousso

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Alphabet and Amazon shares fall after another quarter of heavy AI spending. Binance races to contain the fallout from a record $6.3 billion crypto hack linked to North Korea. And the Bank of Japan says inflation is finally back at target, pacing the way for a potential rate hike in December.

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Today's recommended read: High stocks, low price, but don't write lead off just yet by Andy Home

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Sound engineering and music by Sebastian and Josh Sommer.

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