Market Close for October 2: The three major indexes posted modest gains as US Treasury yields retreated from multi-year highs.

Most popular Chinese concept stocks declined on October 2, with Pinduoduo falling 1.85% and Baidu dropping 1.47%.

Commodities Summary: Oil prices climbed, copper prices pulled back, and gold prices advanced.

European stocks fell, with bank shares underperforming as rising bond yields rattled investors.

Macro

Trump said he likes the CEO of Anthropic, potentially signaling an easing of tensions between them.

The Pentagon may soon send an additional aircraft carrier to the Persian Gulf, adding options for escalating strikes against Iran.

Trump: Iran will cease to exist if it does not sign a deal.

Trump said he "might" intensify bombing of Iran after the midterm elections, noting the US has plenty of weapons.

US Republicans are considering a rapid debt ceiling increase to weaken Democrats' leverage.

The US Dragon spacecraft sent a new crew of astronauts to the International Space Station.

Report: The US is reallocating $52 million in funds from Europe and the Middle East to Latin America.

Bessent urged European partners to help resolve the diesel shortage.

Putin: Russia may deploy its entire arsenal if Kaliningrad is attacked.

Putin: Russia has sufficient diesel, but sanctions are hindering exports.

Iran is reportedly willing to allow inspectors into bombed nuclear facilities in exchange for reduced sanctions.

Iran's Persian Gulf Strait Authority: Three tankers recently attacked had been placed on a non-compliance list.

Iran summoned the British ambassador to protest what it called "unfounded" accusations by the UK.

Houthi forces claimed Saudi airstrikes hit multiple locations in Yemen; Saudi Arabia has not yet responded.

The UK Maritime Trade Operations office reported that an oil tanker was attacked while transiting the Strait of Hormuz.

The German Bundeswehr will form its first battalion-level unmanned systems combat unit.

Zelensky said Ukraine's domestically produced FP-7 ballistic missile completed its first combat use.

EU countries held emergency consultations on releasing diesel reserves.

Companies

OpenAI fired three researchers, alleging they improperly shared sensitive information.

Anthropic is reportedly planning a large-scale IPO as early as before the Thanksgiving holiday.

Nike's Q1 revenue missed expectations; the company announced a restructuring plan and layoffs, with shares falling 6% after hours.

Disney plans to restructure its television business, continuing efforts to streamline operations.

Mattel shares surged after reports that Authentic is interested in acquiring the toy company.

Hedge fund Millennium posted flat returns last month, with some funds' fixed-income investments taking a hit.

Buyers of Paramount Skydance's new debt are sitting on losses of hundreds of millions of dollars, with asset managers angrily calling underwriters.

Former LinkedIn head Roslansky is set to leave Microsoft, marking a series of executive departures.

General Motors' third-quarter sales fell 5.5%, while Toyota benefited from electric and hybrid models to achieve growth.

Accenture shares surged as record new orders dispelled market concerns about AI disruption.

Commentary

Fed Vice Chair Jefferson said the central bank may need more time to decide its next move.

Fed Governor Cook said supply shocks are unexpectedly persistent, testing traditional response methods.

JPMorgan strategists expect market volatility may increase ahead of the US midterm elections.

US Treasuries rallied sharply, with France's fiscal troubles spurring safe-haven buying.

US Bond Market: Treasuries rose with the yield curve steepening significantly, driven by spillover from European debt risks.

Eurozone government bond risk premiums surged as French fiscal concerns spilled over.

FlyDubai passenger scare incident: The captain and passengers worked together to avert danger; the Omani co-pilot raised questions in a safety review.

US mortgage rates rose to 7.28%, the highest since late 2023.

Fed official Kashkari: It is unclear how high rates need to go to curb inflation, but action must be taken.

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