Tuesday Watch

Around X:

• @Business

• The Alberta energy watchdog took over an oil and gas firm’s wells and infrastructure on a military base less than two weeks before a major fire killed four soldiers and injured dozens of others. 
• Cboe launched pre-market trading in single-stock options, like those on ETFs tracking major stock indexes. 
• Virginia Governor Abigail Spanberger won’t support NextEra’s $67 billion takeover of Dominion without a six-year freeze on residential power rates and a tripling of bill credits. 
• Intel asked the FCC to exempt niche foreign-made robotics critical to US semiconductor manufacturing from a recent ban. 
• Thoma Bravo Managing Partner Seth Boro said the AI buildout will only be possible if proper cybersecurity measures are in place, especially at the consumer level. 
• Get up to speed on what's moving global markets.
• Here’s what you need to know to start your day: Morning Briefing Asia.      

• @ZeroHedge

• Supreme Showdown: Investigative Reporter And Accused Chinese Operative Face Off In Press Freedom Case.
• Too Broken For Frontier: Indonesian Markets Suffer Worst Rout Since 1998 As MSCI Threatens The "Argentina Treatment". 
• Another Day, Another Data Center Faceplant: Korea's Biggest IPO Of The Year Craters 32% On Debut. 
• Central Banks Keep Hoarding Gold, But Now The Question Is "Where To Store It": Goldman.
• OpenAI is racing to secure investor commitments before Anthropic's expected IPO in mid-November; SoftBank and MGX are in talks to join the round of about $30 billion.
• Brookfield, NextEra To Build $100 Billion AI Hub On Cold War Nuclear Site.
• 'Once He Leaves, The Case Is Over': Judge Jails OpenAI Bugging Suspect After Saudi Consulate Offers 'Blank-Check' Bail.
• Another Nor'easter Brews In Atlantic, Putting Mid-Atlantic In Potential Crosshairs.
• 'Operation Protect The Vote': Feds Arrest 28 Foreign Nationals In California Monday For Illegal Voting.
• Intifada For All...
• World's largest corporate bond, RPLDCI of 2049 ($27BN bond funding Meta's Hyperion data center), hit new lifetime lows.
• Houthis Target More Saudi Airports, Aramco Sites As US Issues Urgent Alert For 12 Mideast States.
• *TRUMP: WE'VE GIVEN A LOT TO UKRAINE, THEY GIVE NOTHING TO US.
• *TRUMP: TIME FOR SOMEONE ELSE TO NEGOTIATE ON BEHALF OF UKRAINE.  
• Trump Admin, US Businesses 'Need To Be Wary' Of AI Espionage, Intelligence Chief Warns.         
• Mag7 Saves Stocks From 'Black Monday' Redux As CRWV Dead-Cat-Bounce Trounced; Bonds & Bullion Slide.           

• @CNBC

• Tuesday's big stock stories: What’s likely to move the market in the next trading session. 
• JD Vance refrains from endorsing Israeli leader Netanyahu as Trump offers praise.
• CNBC Daily Open: Tech investors buy the dip — but debt remains a concern.

Night Trading 

• Asian equity indices are -1.25% to -.5% on average. 
• Asia Ex-Japan Investment Grade CDS Index 74.5 +.75 basis point. 
• China Sovereign CDS 37.5 +.25 basis point.
• China Iron Ore Spot 91.20 USD/Metric Tonne -.5%. 
• Crude Oil 103.77/bbl. +.1%. 
• Gold 4,151.70 USD/t oz. -.2%. 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.09 -.08%.
• Bloomberg Emerging Markets Currency Index 33.6 unch.
• Bloomberg Global Risk-On/Risk Off Index 130.0 -.1%.
• US 10-Year Yield 5.13% -1.0 basis point.
• Japan 30-Year Yield 4.0 -1.0 basis point.
• Volatility Index(VIX) futures 18.7 +.3%.
• Euro Stoxx 50 futures -.58%. 
• S&P 500 futures +.16%.
• NASDAQ 100 futures unch.

Morning Preview Links

BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and financial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 25% net long heading into the day.