Morning Edition · Thursday, October 29, 2026
Macro
Fed holds rates at 3.75% to 4% while two officials vote to raise them
Governor Lisa Cook and Cleveland Fed President Beth Hammack voted for a quarter-point increase, and gold fell about 0.6% to near $4,035 an ounce as traders priced in a central bank now debating a hike, not a cut.
Geopolitics
US tells Middle East allies to prepare for several days of strikes on Iran after the midterm elections
Brent crude topped $116.50 a barrel on Wednesday on the reports, then eased toward $113 on Thursday as Gulf diplomacy with Tehran continued.
Tech
Alphabet falls about 9% after hours as AI search features slow its ad growth
Microsoft spent less than expected on capital projects, and Nasdaq 100 futures pointed to a 1.3% lower open as investors reconsidered the suppliers that depend on Big Tech spending, including Samsung, whose shares slid in Seoul.
World
Flávio Bolsonaro claims election fraud from Miami after losing Brazil's runoff to Lula
Some of his own allies rejected the claim, and São Paulo's Ibovespa had already fallen 13.88% on Monday, the first session after Luiz Inácio Lula da Silva won 51.79% of the vote.
Geopolitics
Saudi, Pakistani and Turkish security chiefs go to Tehran to negotiate a regional security framework
The three members of the Makkah defense pact met Iran's top security official on Monday, with Saudi Arabia entering the talks directly, while Washington briefs the same governments on possible strikes.
Crypto
Bitcoin falls below $80,000 as a technology sell-off and the Fed hold trigger $356 million in liquidations
Gold and silver also fell after the Federal Reserve decision, but by less, and bitcoin's losses followed the Nasdaq and Samsung rather than the metals.
Markets
World Bank expects commodity prices to rise 23% this year as the Middle East war disrupts energy and shipping
The European Union is paying about €10 billion more a month for imported oil than in 2025, while Argentina's Vista exported 70% of its Vaca Muerta crude and raised operating profit 78%.
Geopolitics
Moscow's mayor says 613 drones flew toward the capital region overnight as the Kremlin sets Ukraine talks for after November 4
Russian officials said air defenses downed 170 drones over Kaluga region alone, and regional airports including Penza suspended flights before reopening.
Markets
Airlines cut back fuel hedging and warn of higher fares as the Iran war keeps jet fuel expensive
Frontier Airlines, the largest US budget carrier, reported a 71% jump in third-quarter airfare and said customers continue to book.
Macro
Israel's next government inherits a 25 billion shekel defense budget gap and military plans worth hundreds of billions
The Bank of Israel has warned that higher defense spending without offsetting measures will stop the debt-to-GDP ratio from falling, and police rejected Likud's claim that Arab parties rigged the vote.
Geopolitics
EU governments block an "associate membership" offer to Canada before the Montreal summit
Germany led the objections to Ursula von der Leyen's proposal, and the summit statement will offer Canada "ever closer association" instead.
Tech
Russian companies rent foreign data-center capacity as AI chip supplies shrink
Russian purchases of foreign information technology services rose 30% in the second quarter, according to the Bankrollo channel, while a Financial Times report describes North Korean workers being advertised online to Russian factories.