US stocks tumbled yesterday as investors digested hawkish comments from Fed officials

Global stocks also suffered steep losses

Gold is set for its best weekly gain in a month

Natural-gas hit its highest level since 2022 start of Russia-Ukraine war

Bitcoin dropped below $100k to its lowest level since May

Brookfield Q3 revenue fell 8% but earnings rose on sustained growth across its wealth-solutions platform and strong asset management fees and fund raising (WSJ)

Walt Disney missed Q4 revenue estimates but beat on earnings as streaming subscriber gains offset ongoing linear TV weakness and a lackluster theatrical film slate (CNBC)

Bitfarms missed Q3 earnings and revenue estimates as cost per Bitcoin rose 7%; the firm will wind down Bitcoin mining to focus on AI and cloud infrastructure (BBG)

JD.com beat Q3 revenue estimates driven by government consumer subsidies and its expanded push into food delivery (BBG)

Applied Materials beat Q4 earnings and revenue estimates, though it expects weaker China spending in 2026 due to tighter US export controls, with AI-driven memory demand partially offsetting the impact (BBG)

Tencent beat Q3 revenue estimates on a 43% jump in international gaming sale, while net income rose 19% on steady growth without major AI infrastructure bets (BBG)

Full calendar here

Run it back?

Fed officials signal rate cut caution after lack of crucial data (BBG)

US readies tariff cuts and trade deals in affordability push (BBG)

'Big Short' investor Michael Burry is closing his hedge fund (RT)

October jobs report will not include unemployment rate (BBG)

Earnings and M&A potential have small cap investors turning bullish (BBG)

BlackRock moves to take on hedge fund giants (FT)

$600B CalPERS is doubling down on PE (FT)

PE faces endemic payout slump (BBG)

US convertible bond sales broke Covid record with $110B YTD (BBG)

US corporate bankruptcies are set to hit a 15-year high (RT)

China's secretive gold purchases help fuel record rally (FT)

Franklin Templeton's CEO underestimated speed of AI disruption (BBG)

AQR is exploring a push into sports betting (BBG)

Cboe will launch prediction markets but avoid sports (BBG)

UBS takeover of Credit Suisse pushed up Swiss banks' funding costs (RT)

Norway's $2T SWF may lift two-decade ban on defense investments (RT)

PIMCO's global credit CIO Mark Kiesel retired (RT)

Microsoft and Amazon and lobbying to restrict Nvidia exports to China (WSJ)

Apple and OpenAI must face X Corp's monopoly lawsuit (RT)

Jack Dorsey rebooted Vine as diVine (TC)

Bank of America and BNY Mellon seek to end Epstein lawsuits (RT)

1MDB dropped JPMorgan and Coutts from $1.1B lawsuit (BBG)

Verizon plans to cut ~20k jobs (BBG)

Blue Origin pulled off first landing of its largest reusable rocket (FT)

Paramount Skydance, Comcast, and Netflix are preparing bids for $55B-listed media conglomerate Warner Bros. Discovery

BlackRock's Global Infrastructure Partners is close to a $27B deal for a 50% stake in Spanish infrastructure developer ACS's ACS Digital & Energy unit to develop data centers

PE firm Carlyle is exploring an acquisition of Russian oil giant Lukoil's global assets, which are valued at $22B

Spanish energy giant Repsol is considering a reverse merger of its $19B upstream unit with potential partners including US energy producer APA

Pfizer acquired weight-loss startup Metsera in a $10B all-cash deal

Pharma giant Merck is close to a deal to acquire $3.3B-listed flu-focused biotech Cidara Therapeutics after an intense bidding war

The Seidler family is considering selling MLB team San Diego Padres at a record $2.75B valuation

Chair Lawrence Stroll explored a deal with Saudi's PIF to take $600M-listed UK luxury car maker Aston Martin private

Swedish health and hygiene firm Essity acquired Edgewell Personal Care's North American feminine care business for $340M

Blackstone and SoftBank are in early talks to buy majority or minority stakes respectively in Indian cloud infrastructure startup Neysa Networks at an up to $300M valuation

AI coding startup Cursor acquired tech recruiting strategy company Growth by Design

Thinking Machines Lab, the pre-revenue AI startup founded by ex-OpenAI CTO Mira Murati, is in talks to raise a new round at a ~$55B valuation

Musk's xAI is reportedly raising a $15B Series E 

AI coding startup Cursor raised a $2.3B round at a $29.3B valuation led by Accel and Coatue

Counter-drone radar startup Chaos Industries raised a $510M Series D at a $4.5B valuation led by Valor Equity Partners 

Australian AI startup Firmus raised a $327M round at a $3.9B valuation from Nvidia and  Ellerston Capital

Classiq, a provider of quantum computing software, raised a $200M+ funding round from  AMD Ventures, Qualcomm Ventures, and IonQ

Harbinger, a medium-duty EV manufacturer, raised a $160M Series C from FedEx, Capricorn, Tiger Global, Litquidity Ventures, and more

Carbon, a 3D printing startup, raised a $60M round from Sequoia Capital, Silver Lake, adidas, Baillie Gifford, Madrone, and Northgate

Fabric8Labs, a startup building a 3D printing platform that combines electroplating principles with electrochemical deposition, raised a $50M round led by NEA and Intel Capital

Exowatt, a startup powering AI data centers with solar power, raised a $50M Series A extension led by MVP Ventures and 8090 Industries

Foxglove, a data and observability platform for the physical AI revolution, raised a $40M Series B led by Bessemer Venture Partners

Indian climate tech startup Varaha raised $30M from Mirova

sunday, a payments platform for restaurants, raised a $21M Series B led by DST Global

Red Queen Bio, a startup aiming to block AI-enabled bioweapons, raised a $15M seed round led by OpenAI

Dealism, an AI-based sales agent, raised a $15M round led by GL Ventures

Milestone, an Israeli platform to correlate AI tool usage with engineering metrics, raised a $10M seed round led by Heavybit and Hanaco Ventures

Azumuta, a Belgian digital workflow platform for manufacturers, raised a $9M Series A led by Keen Venture Partners

Zero-knowledge identity startup Self raised a $9M seed round from Greenfield Capital, SoftBank, and others

Obello, a design platform for brands in need of high-quality content at speed, raised an $8.5M seed round led by Obvious Ventures

Skycore Semiconductors, a startup specializing in Power Integrated Circuit (IC) technology for AI data centers, has raised a $5.8M seed round led by Amadeus 

Vida, an AI phone agent OS for enterprises, raised a $4M Series A led by Trammell Venture Partners

Fireblocks, a crypto infrastructure startup backed by Sequoia and Coatue, is in talks to raise money to buy back shares from employees

Blackstone-owned HVAC giant Copeland filed for an IPO; the firm was last valued at $14B in 2022

SBI Funds Management, India's biggest asset management JV between State Bank of India and Amundi, is considering raising $1.2B at a $12B valuation in an India IPO

Mining giant Glencore and Asian PE firm Hillhouse will serve as cornerstone investors in Chinese aluminum maker Chuangxin Industries' $700M Hong Kong IPO

Pfizer is seeking to sell its remaining $508M stake in Covid-19 vaccine partner BioNTech

Grayscale, the crypto asset management unit of Digital Currency Group, filed publicly for an IPO

Italian app investor Bending Spoons could IPO as early as next year

Electronics manufacturer Amphenol raised $7.4B in a bond sale to fund its $10.5B acquisition of CommScope's connectivity and cable business

Danish pharma giant Novo Nordisk raised $4.7B in a bond sale to help finance its $5.2B purchase of US biotech Akero Therapeutics

South Korean oil refiner SK Innovation Co raised 3.4B through local brokerage Meritz Securities in Korea's largest corporate financing deal

Australian investment manager IFM Investors is in talks to raise $2B in debt to back its acquisition of Swiss data center operator Green Group

Scotland plans to sell $2B of 'kilt' bonds after receiving first-ever crest rating

Cornell University is preparing a $1B bond sale

Indian conglomerate Adani's energy transmission unit Adani Energy Solutions is seeking to raise over $500M in a foreign debt offering

$300M-listed US LNG company New Fortress Energy delayed its quarterly filing amid debt restructuring talks

Swedish investment company Achilles Capital is facing mounting pressure from creditors as a $200M debt pile approaches maturity

Blackstone launched its second senior direct-lending fund, one year after raising $22B for its first vintage

Credit investment firm Diameter Capital Partners raised $4.5B for its third global dislocation fund 

Alibaba-linked family office Blue Pool Capital is seeking to raise $750M for its first PE fund to invest in consumer, finance, and tech globally and in China

GP financing solutions firm Hark Capital is seeking to raise $750M for its fifth fund

Private markets FOF StepStone Group raised $700M for an evergreen PE interval fund

American South Capital Partners, a real estate impact investing JV between SDS Capital Group and Vintage Realty Company, raised $60M for a targeted $500M third fund to invest in affordable housing

Venture debt investor Viola Credit raised $350M for its latest European growth lending vehicle

German VC Oyster Bay Venture Capital raised $116M for its second fund

UK VC Backed VC raised $100M for its third fund

CPG-focused Paperboy Ventures launched its debut fund

Fanatics is exploring launching prediction markets with Crypto.com

Bitcoin miners lead crypto stock losses amid wider market dip

Czech central bank bought $1M in Bitcoin and other cryptos for testing

Japan's stock exchange is looking at ways to curb crypto hoarding firms

21shares launched two US crypto index ETFs

Sebastien Canderle published an insightful blog post for the CFA Institute explaining why retail investors are at a disadvantage when it comes to private assets.

Also, is German manufacturing finished for good?

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