Democrats to probe JPMorgan's relationship with Epstein when they take Senate control
https://www.cnbc.com/2026/11/05/jpmorgan-epstein-democrats-erdoes-midterm-election.html?__source=androidappshare
https://www.cnbc.com/2026/11/05/jpmorgan-epstein-democrats-erdoes-midterm-election.html?__source=androidappshare
CNBC
Democrats to probe JPMorgan's relationship with Jeffrey Epstein when they take Senate control
JPMorgan kept Jeffrey Epstein as a client for years after top executive Mary Erdoes hearing claims he paid to have underage girls brought to his home.
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KEY DATA 6-Nov
GE Industrial Production
FR Trade Balance
EC Retail Sales
US NonFarm Payrolls/Unemployment Rate
ID UMich Consumer Sentiment
AUCTIONS
Bills JP 3M
CENTRAL BANKS
US FED Logan Speech
EC ECB Donnery Speech
US FED Williams Speech
UK BOE Pill Speech
US FED Bowman Speech
GE Industrial Production
FR Trade Balance
EC Retail Sales
US NonFarm Payrolls/Unemployment Rate
ID UMich Consumer Sentiment
AUCTIONS
Bills JP 3M
CENTRAL BANKS
US FED Logan Speech
EC ECB Donnery Speech
US FED Williams Speech
UK BOE Pill Speech
US FED Bowman Speech
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BBG - In its worst session since March 2020, the Nasdaq 100 sank 6.4%, wiping out $2.3 trillion in value. The S&P 500 fell 4.4%. A key gauge of chip giants tumbled 12%. Qualcomm Inc. and Arm Holdings Plc’s sank on underwhelming outlooks. Apple Inc. drew solid demand for its $7.5 billion bond sale, which will add to a flurry of tech issuance. Tesla Inc. and SpaceX slid at least 9%.
Wall Street’s selloff easily erased a rally on Wednesday, when the sweep of Congress by Democrats sent oil sharply lower on bets the election would speed an end to the Iran war. But even as broad stock benchmarks soared in that session, signs of unease toward the AI trade were evident.
The Bloomberg Dollar Spot Index rose 0.2%. Bitcoin fell 5.4%. The yield on 10-year Treasuries declined 6 bps to 4.83%. WTI crude rose 2.7%. Spot gold rose 0.5%.
One of the driving forces behind Thursday’s selloff could be systematic funds. To Barclays Plc, the so-called vol control funds are expected to reset today and sell approximately of $135 billion of the US equity futures over the next 24-48 hours. That is the biggest adjustment in vol control equity exposure since December 2018.
On the economic front, weekly jobless claims fell  below all estimates, Labor Department data show. Investors will be looking to the US payrolls report on Friday for more clues on the path for interest rates.
Federal Reserve Bank of Cleveland President Beth Hammack said Thursday rates need to be restrictive to bring inflation to the central bank’s target, and more frequent moves can reduce the risk that policy falls behind.
Meanwhile, the broader market may find support from favorable  seasonal trends following the midterm elections. The S&P 500 has averaged a 15.5% price gain in the 12 months following outcomes since 1954, rising in every one of the 18 instances, according to Goldman Sachs Group Inc.
In fact, trading desks across Wall Street are encouraging investors to boost their exposure to US stocks on bets of a year-end rally post midterm elections.
Earnings results have also been upbeat as the season approaches its final stretch, with about three-quarters of the S&P 500‘s market value having reported results. So far, 84% of companies have beaten earnings estimates, while 12% have missed.
Wall Street’s selloff easily erased a rally on Wednesday, when the sweep of Congress by Democrats sent oil sharply lower on bets the election would speed an end to the Iran war. But even as broad stock benchmarks soared in that session, signs of unease toward the AI trade were evident.
The Bloomberg Dollar Spot Index rose 0.2%. Bitcoin fell 5.4%. The yield on 10-year Treasuries declined 6 bps to 4.83%. WTI crude rose 2.7%. Spot gold rose 0.5%.
One of the driving forces behind Thursday’s selloff could be systematic funds. To Barclays Plc, the so-called vol control funds are expected to reset today and sell approximately of $135 billion of the US equity futures over the next 24-48 hours. That is the biggest adjustment in vol control equity exposure since December 2018.
On the economic front, weekly jobless claims fell  below all estimates, Labor Department data show. Investors will be looking to the US payrolls report on Friday for more clues on the path for interest rates.
Federal Reserve Bank of Cleveland President Beth Hammack said Thursday rates need to be restrictive to bring inflation to the central bank’s target, and more frequent moves can reduce the risk that policy falls behind.
Meanwhile, the broader market may find support from favorable  seasonal trends following the midterm elections. The S&P 500 has averaged a 15.5% price gain in the 12 months following outcomes since 1954, rising in every one of the 18 instances, according to Goldman Sachs Group Inc.
In fact, trading desks across Wall Street are encouraging investors to boost their exposure to US stocks on bets of a year-end rally post midterm elections.
Earnings results have also been upbeat as the season approaches its final stretch, with about three-quarters of the S&P 500‘s market value having reported results. So far, 84% of companies have beaten earnings estimates, while 12% have missed.
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TEXAS GOVERNOR-ELECT GINA HINOJOSA: WE NEED TO STOP WHAT WE ARE DOING WITH DATA CENTERS UNTIL WE HAVE MEASURES TO PROTECT TEXANS-CNN INTERVIEW
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OCBC’s Q3 net earnings up 3% at $2.04b, lifted by record banking operations profit
https://www.straitstimes.com/business/ocbcs-q3-net-profit-up-3-at-2-04b-lifted-by-record-banking-operations-profit
https://www.straitstimes.com/business/ocbcs-q3-net-profit-up-3-at-2-04b-lifted-by-record-banking-operations-profit
The Straits Times
OCBC’s Q3 net earnings up 3% at $2.04b, lifted by record banking operations profit
OCBC raises 2026 guidance after Q3 net profit rises 3% to $2.04 billion on record banking operations profit. Read more at straitstimes.com.
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OCBC’s Profit Gains Dented by Drop in Trading, Insurance Income
(Bloomberg) -- Oversea-Chinese Banking Corp. posted a small increase in third-quarter profit, with lending gains capped by declines in trading and insurance income.
Net income rose 3% to S$2.04 billion ($1.6 billion) for the three months ended Sept. 30, Singapore’s second-largest bank said in a statement on Friday. That came a shade above the S$2 billion average estimate of analysts.
Chief Executive Officer Tan Teck Long raised loan growth projection for 2026 to a low double-digit percentage, and said total income is estimated to increase at least in a mid-single
digit percentage. Net interest income may be flat or decline slightly, he said.
OCBC’s results capped Singapore’s banks’ earnings which showed the three major lenders posting strong loan growth despite narrowing net interest margins. OCBC’s shares have risen the most among local rivals this year.
DBS Group Holdings Ltd., Singapore’s largest bank, reported a 5% drop in net income, dragged by a decline in trading income.
United Overseas Bank Ltd.’s profit rebound was overshadowed by an estimate miss earlier this week, and its stock pared most of the year’s gains.
(Bloomberg) -- Oversea-Chinese Banking Corp. posted a small increase in third-quarter profit, with lending gains capped by declines in trading and insurance income.
Net income rose 3% to S$2.04 billion ($1.6 billion) for the three months ended Sept. 30, Singapore’s second-largest bank said in a statement on Friday. That came a shade above the S$2 billion average estimate of analysts.
Chief Executive Officer Tan Teck Long raised loan growth projection for 2026 to a low double-digit percentage, and said total income is estimated to increase at least in a mid-single
digit percentage. Net interest income may be flat or decline slightly, he said.
OCBC’s results capped Singapore’s banks’ earnings which showed the three major lenders posting strong loan growth despite narrowing net interest margins. OCBC’s shares have risen the most among local rivals this year.
DBS Group Holdings Ltd., Singapore’s largest bank, reported a 5% drop in net income, dragged by a decline in trading income.
United Overseas Bank Ltd.’s profit rebound was overshadowed by an estimate miss earlier this week, and its stock pared most of the year’s gains.
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Singapore bank OCBC lifts 2026 guidance after Q3 profit beat - https://www.reuters.com/world/asia-pacific/singapores-ocbc-third-quarter-net-profit-up-3-on-year-above-forecasts-2026-11-05/
South Korea's KOSPI triggers circuit breakers after plunging more than 8% at the open.
Taiwan Deputy Finance Minister: Fund could call an extraordinary meeting to consider market-support measures if trading becomes disorderly or confidence collapses.