U.S. MORTGAGE RATES HIT 7.4% AS HOME SELLERS CUT PRICES

The average 30-year mortgage rate climbed to 7.4%, its highest since November 2023, further weakening housing demand.

With buyers retreating, 21% of sellers reduced asking prices, a record share for this time of year in Redfin's data.

Home prices are falling in several major markets, including Dallas (-5%), Austin (-3.4%) and Tampa (-1.9%) year-over-year.

Sellers are increasingly offering closing-cost credits and mortgage-rate buydowns, shifting negotiating power toward buyers despite elevated borrowing costs.
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CBO WARNS U.S. NEEDS 5–6% REAL GDP GROWTH TO STABILIZE DEBT

CBO Director Phillip Swagel says the U.S. would need 5–6% real GDP growth and 7–8% nominal growth to stabilize its debt-to-GDP ratio, assuming Treasury borrowing costs near 4–5%.

With federal debt around 100% of GDP and a structural deficit of 6%, Swagel warns the current fiscal trajectory is unsustainable.

He also cautions that rising interest rates could create a dangerous feedback loop, increasing deficits, debt and borrowing costs.

Swagel sees stronger AI-driven productivity as a potential growth boost, but says growth alone won't solve the deficit problem.
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$AAPL - APPLE ANNOUNCES OCTOBER 13 PRODUCT LAUNCH EVENT

Apple has scheduled a product launch event for October 13, 2026, in New York City's Tribeca neighborhood.

The event, titled “Welcome Home,” will begin at 9:00 a.m. ET.

Apple has not yet disclosed which products will be unveiled.
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FED CHAIRMAN WARSH TO SPEAK ON OCTOBER 16 AT IMF -- IMF AGENDA FOR BANGKOK ANNUAL MEETINGS
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IRAN REFUSES TO ABANDON URANIUM ENRICHMENT

Iran's atomic energy chief Mohammad Eslami says Tehran will not abandon its nuclear enrichment program, insisting it remains a national right.

The statement follows U.S. Vice President JD Vance's demand for meaningful reductions in Iran's enrichment capacity as a condition for a nuclear deal.

Although Iran is reportedly not currently enriching uranium, the IAEA estimates roughly 200 kg of enriched uranium may remain at Isfahan.

Tehran maintains its nuclear activities comply with international safeguards.
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TRUMP SAYS “SUPER INTELLIGENCE” SHOULD REPLACE “ARTIFICIAL INTELLIGENCE”

President Trump says the White House considers “Super Intelligence” the more accurate and widely accepted term.

In a statement, Trump declared that anyone continuing to use “Artificial Intelligence” instead would be considered “THE ENEMY!”
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TRUMP: WE ARE HAVING PRODUCTIVE DISCUSSIONS WITH ISLAMIC REPUBLIC OF IRAN
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🚨 TRUMP: WE WILL NOT BE ATTACKING IRAN AT ANY TIME PRIOR TO MIDTERM ELECTIONS TO BE HELD IN UNITED STATES ON NOVEMBER 3RD
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TRUMP RULES OUT STRIKES ON IRAN BEFORE NOVEMBER 3 ELECTIONS

President Trump says the U.S. will not attack Iran before the November 3 midterm elections, citing productive discussions with Tehran.

However, he insists the blockade of Iran will remain fully enforced, claiming 22 million barrels of oil passed through the Strait of Hormuz overnight, with none entering or leaving Iran.

Trump reiterated that Iran will not be allowed to obtain a nuclear weapon.
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US STOCKS PARE LOSSES AFTER TRUMP SAYS US WILL NOT ATTACK IRAN BEFORE US ELECTIONS IN NOVEMBER
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🇺🇸 PRESIDENT TRUMP — THURSDAY, OCTOBER 8, 2026

All times Eastern (ET)

🔸12:36 AM — Arrives at the White House
🔸8:00 AM — Executive Time (Closed Press)
🔸9:00 AM — In-Town Press Pool Call Time
🔸11:00 AM — Intelligence Briefing (Closed Press)
🔸1:30 PM — A New Golden Age Summit United States Institute of Peace
🔸3:00 PM — Policy Meeting Oval Office — Closed Press
🔸3:30 PM — Policy Meeting Oval Office — Closed Press
🔸4:00 PM — Policy Meeting Oval Office — Closed Press
🔸6:00 PM — Tele-Rally Oval Office — Closed Press
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*LAGARDE TOLD EURO FINANCE CHIEF: NO SENSE OF BROADENING PRICES

*LAGARDE TO EURO FINANCE CHIEF: ECB ATTENTIVE TO MARKETS
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*LAGARDE: ECB HAS TOOLS TO COUNTER UNWARRANTED MARKET DYNAMICS
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OpenAI annualised revenues $20bn less than previously signalled
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OPENAI ANNUALISED REV. $20B LESS THAN PREVIOUSLY SIGNALLED: FT
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OPENAI RECENTLY TOLD INVESTORS ITS REVENUES WERE APPROACHING $50BN ON AN ANNUALISED BASIS AT END OF SEPTEMBER, FAR SHORT OF THE $70BN REPORTED - FT
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U.S. STOCKS EXTEND FALL, NASDAQ DOWN 1.00%
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$ORCL - ORACLE MOVES GAS BY TRUCKS TO AVOID DATA CENTER POWER DELAYS

Oracle is transporting natural gas by truck to power AI data centers, bypassing pipeline delays threatening its expansion.

Already used in Utah and Texas, the strategy could extend to its massive 2.45-GW Project Jupiter in New Mexico.

However, trucked gas costs roughly four times more than pipeline deliveries, highlighting the growing energy challenges of AI infrastructure.
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U.S. SANCTIONS 17 VESSELS AS IRAN HALTS OIL SHIPMENTS

The U.S. Treasury has sanctioned 17 vessels involved in transporting Iranian crude oil, petroleum products and petrochemicals.

A Treasury official says Iran has stopped both loading and unloading crude oil tankers due to the U.S. blockade and sanctions.

Washington estimates Iran still has 20 million barrels of crude oil aboard vessels outside the blockade of Iranian ports.

Clarify the blockade’s scopeMake the headline more concise
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$ORCL - ORACLE SHARES SET FOR BIGGEST ONE-DAY DROP IN 12-WEEKS, LAST DOWN 6%
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