Trending Market News

Mexico's auto exports fell 12% year-over-year in September 2026, marking the steepest decline this year, as the industry faces effective US tariffs of 10-12% during ongoing USMCA review talks. The slump affects Mexico's top industrial sector, though domestic sales rose 8% to partially offset losses. Analysts warn continued declines could signal structural problems for Mexican manufacturing given its heavy reliance on the US market.

• Monthly auto production slumped 15% while exports to the US declined 5% in the first nine months of 2026; Mexico still supplies 16% of light vehicles in the US market
• General Motors, Ford, Nissan, and Mercedes-Benz posted significant export declines, while Kia, BMW, and Mazda increased shipments, with Mazda more than doubling monthly exports
• Canada, Mexico's second-largest market, increased purchases by over 9% in 2026, providing some diversification as uncertainty over US trade policy affects investment decisions

PepsiCo reported third-quarter earnings and revenue that beat Wall Street expectations, driven by international growth. However, the company lowered its full-year earnings forecast with one quarter remaining in 2026, as its North American business continues to underperform compared to international markets.

• Q3 earnings per share of $2.34 (excluding items) and revenue of $25.27 billion both exceeded analyst estimates
• Net sales rose 5.6% while organic revenue increased 3.1% during the quarter
• North American business continues to lag behind international markets, prompting a reduced full-year earnings outlook

CNN, MSNOW and Politico are seeking a federal court order to extend a temporary block on President Trump's ban of their White House access, which he imposed for publishing 'fake news'. A judge already temporarily blocked the ban in September, finding it likely violated the outlets' Fifth Amendment rights to fair treatment. The legal battle comes weeks before the November midterm elections.

• US District Judge Timothy Kelly temporarily blocked the ban on September 24, ruling it likely violated the outlets' constitutional right to fair treatment under the Fifth Amendment
• The outlets argue the ban is unlawful retaliation for coverage, while the Justice Department claims they endangered national security by publishing classified information about Trump's White House ballroom construction and Republican convention turnout
• The case arrives as Trump's approval ratings hit career lows amid concerns over the Iran war and inflation, with Republicans fighting to retain congressional control in the upcoming November 3 midterms

British online fashion retailer ASOS disclosed a cybersecurity breach on Thursday that resulted in unauthorized access to customers' personal data. While personal information was compromised, the company confirmed that payment card information and account passwords were not accessed. The incident affects ASOS customers and raises concerns about data security at major e-commerce platforms.

• The cyberattack accessed customers' personal data and certain non-personal account-related information
• ASOS confirmed that no payment card information or account passwords were compromised in the breach
• The disclosure highlights ongoing cybersecurity risks facing online retailers handling large volumes of customer data

Fast Retailing, owner of Uniqlo, reported its fifth consecutive record annual profit with operating profit jumping 32% to 743.13 billion yen ($4.70 billion) for the year ended August 31. The Japanese apparel maker beat both its own forecast of 730 billion yen and analyst estimates of 726.45 billion yen, driven by strong overseas growth that offset weakness in its domestic market.

• Operating profit reached 743.13 billion yen ($4.70 billion), up 32% from 564.3 billion yen in the prior year period
• Results exceeded the company's forecast of 730 billion yen and analyst consensus of 726.45 billion yen
• Fast Retailing projects operating profit of 830 billion yen for the year ending August 2027, indicating continued growth expectations

Oil prices rose Thursday amid escalating Middle East tensions, with Brent crude gaining 1.36% to $101.54 per barrel and WTI advancing 1.04% to $89.32. Markets reacted to reports that President Trump's national security team is considering large-scale military operations in Iran, while Iran-backed Houthis have recently attacked Saudi airports and Iranian forces have targeted tankers in the Hormuz Strait.

• NBC News reported the Trump administration is discussing potential large-scale U.S. military operations in Iran in the coming weeks, possibly before midterm elections
• Iran-backed Houthis recently attacked two Saudi airports in Jazan and Najran, while Iran has also been targeting tankers in the Hormuz Strait
• Analysts warn that any escalation affecting traffic through Hormuz or Saudi energy infrastructure would threaten physical supply and could push prices higher

Jeff Bezos indicated that Blue Origin will likely pursue an IPO in several years, following the space company's first outside funding round of $10 billion. The company, valued at $140 billion in September, has received $28 billion in personal investment from Bezos since its 2000 founding and aims to compete with SpaceX in the commercial launch market.

• Bezos has personally invested $28 billion in Blue Origin over 24 years, with the company recently valued at $140 billion after raising $10 billion from external investors
• An IPO would give investors exposure to a major space company, though rival SpaceX, which listed in June, remains the dominant player in the sector
• Blue Origin plans to resume New Glenn rocket launches in December 2026 after a May test failure, as it works to compete in commercial launches and fulfill NASA and US Space Force contracts

Samsung Electronics reported preliminary third-quarter operating profit of 107.4 trillion won ($80.2 billion), marking the first time the company has surpassed 100 trillion won in quarterly profit. The record performance was driven by booming AI demand fueling its memory chip business, as Samsung is the world's largest memory chipmaker.

• Samsung's Q3 operating profit of 107.4 trillion won represents a significant jump from its previous record of 89.5 trillion won in Q2 2024
• The company has benefited from surging demand for memory chips used in AI infrastructure and recently formed a strategic partnership with French AI startup Mistral AI
• Full third-quarter earnings with detailed business division breakdowns are expected to be released later this month

President Trump is awarding the National Medal of Science and National Medal of Technology and Innovation to several prominent tech executives at a science summit on Thursday. Recipients include Elon Musk, Sergey Brin, Jensen Huang, Lisa Su, Michael Dell, and Satya Nadella. All recipients have financially contributed to Trump or Republican campaigns and causes.

• Elon Musk, who contributed over $290 million to Trump's 2024 election campaign, is receiving the National Medal of Science along with Google co-founder Sergey Brin, Nvidia CEO Jensen Huang, and AMD CEO Lisa Su
• Michael Dell and Microsoft CEO Satya Nadella will receive the National Medal of Technology and Innovation; Dell and his wife committed $6.25 billion to seed Trump Accounts for children's savings
• The summit follows a recent White House AI lunch where Trump signed a 'morally binding' document with tech leaders amid calls for AI development slowdowns

Lululemon has hired Maggie Gauger, CEO of rival brand Athleta, as its new president and chief product officer in a newly created role. The appointment comes one month after Heidi O'Neill became Lululemon's CEO following over a year of disappointing sales performance. The executive shakeup also includes a new COO and the departure of two other senior executives.

• Gap confirmed Gauger's departure from Athleta, with chief marketing officer Erika Everett taking over as interim CEO while the brand works on repositioning for long-term growth
• Two existing Lululemon executives—chief brand and product activation officer Nikki Neuburger and chief supply chain officer Ted Dagnese—are leaving in November to 'pursue other opportunities'
• Lululemon is also searching for a chief brand officer, chief communications officer, and chief technology officer as part of broader leadership restructuring in the competitive athleisure market

Levi Strauss raised its profit guidance for the year after receiving tariff refunds that boosted margins, but lowered its revenue outlook amid weaker-than-expected direct-to-consumer sales. The company posted third-quarter earnings that beat expectations, though U.S. revenue declined 1% despite a 4% increase across the Americas region.

• Tariff refunds contributed 4.9 percentage points to operating margin and 16 cents per share to earnings, helping drive operating margin to 13.8% versus 10.8% a year earlier
• Direct-to-consumer sales underperformed with roughly flat comparable sales, comprising 45% of total revenue, though management expects mid-single-digit DTC growth in Q4
• Full-year net revenue growth guidance was lowered to 7% from a prior range of 7%-7.5%, while adjusted EPS outlook was raised due to tariff refund benefits

The Federal Communications Commission will vote on October 29 on proposals to auction 25 megahertz of prime spectrum and make available an additional 482MHz for direct-to-device (D2D) satellite-to-smartphone services. The proposals could benefit companies like SpaceX and Amazon, which are expanding D2D services through satellite networks to eliminate cell phone dead zones.

• The FCC will auction 25MHz of spectrum specifically for D2D services and consider opening 482MHz more for supplemental satellite coverage
• Amazon requested approval in July to launch up to 5,105 satellites for D2D connectivity targeting underserved users, backed by over $11.5 billion in satellite internet investments
• The FCC's Space Bureau recently approved SpaceX's deployment of 15,000 satellites, marking a major expansion of next-generation satellite constellation capabilities

Federal Reserve officials indicated in meeting minutes that another rate hike will likely be needed this year to combat persistent inflation, which remains above the 2% target. The Fed raised rates by a quarter-point to approximately 3.9% at its September 15-16 meeting, the first increase in three years. The move comes as Americans face high costs for groceries, gas, and housing ahead of upcoming midterm elections.

• Inflation remains elevated at 3.4% year-over-year (overall) and 3% (core), with Fed officials viewing current rates as insufficient to restrain economic growth
• Wall Street expects the Fed to keep rates unchanged at the October 28-29 meeting and implement another increase in December
• Contributing factors to persistent inflation include rising oil and gas prices from the Iran war, lingering tariff effects, and semiconductor price spikes driven by data center construction

Elliott Investment Management and Siris are exploring a sale of Gigamon, a network monitoring and cybersecurity software provider, at a valuation exceeding $2 billion. The Santa Clara-based company generates over $400 million in annual recurring revenue and approximately $170 million in EBITDA. Bank of America and Perella Weinberg Partners have been hired to advise on the early-stage sale process.

• Elliott acquired Gigamon in a 2017 take-private deal valued at $1.6 billion, with Siris purchasing a minority stake in 2024
• The sale process could attract both private equity firms and strategic buyers interested in network monitoring, cybersecurity, and cloud infrastructure capabilities
• Gigamon serves over 4,000 customers globally including banks, healthcare providers, and government agencies

Florida Attorney General James Uthmeier asked a state court to force Meta to implement immediate restrictions on teen use of Facebook and Instagram, after opting out of a $18 billion multistate settlement reached in August. The state is seeking more stringent measures than those Meta agreed to in the settlement with 48 other states, while pursuing its lawsuit alleging the company knowingly made its platforms addictive to young users.

• Florida seeks a temporary injunction requiring Meta to remove users under 14, limit teens to two hours daily across all apps, and disable features like autoplay and infinite scroll
• The requested changes go beyond the August settlement terms by cutting off teen messaging after time limits and barring all advertisements to minors
• Florida rejected the $18 billion settlement as a 'mere slap on the wrist' representing only 3-4 months of Meta's profit, arguing it will not prevent future harmful behavior

Biman Bangladesh Airlines has confirmed an order for 10 Airbus aircraft, including four A350-900 long-haul jets and six A321neo medium-haul jets. This order follows the airline's recent purchase of 11 Boeing aircraft last month, as the carrier expands its fleet beyond its current Boeing and Dash-8 turboprop mainframe.

• The order consists of four A350-900 long-haul aircraft and six A321neo medium-haul jets from Airbus
• Biman Bangladesh previously ordered 11 Boeing aircraft last month (787 Dreamliners and 737 MAX planes)
• The airline currently serves slightly over 20% of Bangladesh's air passengers with a fleet mainly composed of Boeing jets and Dash-8 turboprops

The FDA has expanded approval of Novartis' drug remibrutinib (Rhapsido) to treat symptomatic dermographism, a chronic skin condition causing itchy welts from friction, in adults whose symptoms are not controlled by antihistamines. This is the first FDA-approved treatment specifically for this condition and adds momentum to the drug after recent pipeline setbacks for Novartis.

• Remibrutinib is already approved for chronic spontaneous urticaria; this expands its use to symptomatic dermographism, a form of chronic hives triggered by scratching or skin friction
• In late-stage trials, 29.3% of patients achieved complete resolution of hives after 12 weeks versus 14% on placebo, with improvements appearing as early as two weeks
• The approval provides a boost for Novartis' pipeline amid investor scrutiny following setbacks with cholesterol drug pelacarsen and muscle-wasting therapy del-desiran

The U.S. Federal Trade Commission is preparing action against Booking Holdings over deceptive online hotel ads that mislead consumers into booking through third-party sites charging extra fees instead of directly with hotels. The case involves Booking's relationship with Guest Reservations and could result in penalties exceeding $500 million, as the agency investigates potential violations of rules against business impersonation and improper fee disclosures.

• Guest Reservations has received over 1,000 consumer complaints to the Better Business Bureau, with customers believing they were booking directly with hotels but facing surprise fees and poor customer service
• The potential penalties in the case could exceed $500 million, as the FTC examines whether Guest Reservations' websites violate rules against impersonating other businesses
• FTC Chairman Andrew Ferguson indicated the agency is prioritizing consumer protection cases that address cost-of-living issues, noting that 'tens of millions of Americans' don't notice deceptive practices until after checkout

Pfizer plans to cut approximately 330 jobs at its Sicily plant in Italy, reducing its workforce from 550 employees. Initial talks between Pfizer and Italy's industry ministry failed to prevent the layoffs, though further discussions are scheduled. The cuts make Pfizer the latest multinational company to downsize Italian operations, following similar moves by Electrolux and Ericsson.

• The job cuts represent a 60% reduction in Pfizer's Sicily plant workforce, which currently employs 550 people
• Italy's industry minister Adolfo Urso will visit the Sicily plant on October 23, with follow-up talks scheduled for November 10
• The downsizing follows a broader trend of multinational restructuring in Italy, with Electrolux cutting 1,250 jobs and Ericsson initially planning 131 layoffs in Genoa

Unity Software Inc (NYSE:U) stock rose 0.5% to $45.10 after announcing a partnership with Google, recovering from earlier gains. The collaboration positions Unity favorably in the video game software space while potentially disadvantaging competitor Roblox. Short interest has declined 16.5% in the most recent period, though 29.12 million shares remain shorted.

• Unity stock has reclaimed its year-to-date breakeven level this week, with the $40 level providing support last month
• Options traders show strong bullish sentiment with a 10-day call/put volume ratio of 10.55, sitting in the 90th percentile of its annual range
• Unity's Schaeffer's Volatility Index (SVI) stands at 54%, in the sixth percentile of annual readings, indicating options are pricing in relatively low expected volatility