China’s AI Power Play: Cheap Electricity From World’s Biggest Grid

Global electric vehicle (EV) sales growth has slowed to its lowest rate since February 2024, primarily due to a plateau in the Chinese market and recent policy changes in the United States. This decline reflects a significant shift in consumer demand and market dynamics, particularly in China, where car sales have also seen a notable decrease.

In the current frenzy of China's IPO market, only 0.02% of stock bids are being awarded, making it increasingly difficult for investors to secure shares in new listings. This situation reflects a significant shift in market dynamics, where demand far exceeds supply, leaving many investors frustrated and disillusioned.

The Federal Reserve's board of governors has unanimously voted to reappoint 11 reserve bank presidents for new five-year terms starting March 1, 2026. This decision marks a significant moment in the reappointment process, which has typically been a low-profile administrative task until now.

Oil futures settled lower as market concerns about oversupply outweighed geopolitical tensions, including the recent U.S. seizure of a sanctioned oil tanker off the coast of Venezuela. This decline follows a previous session where oil prices had seen gains, highlighting the volatility in the market.

The U.S. government has announced plans to take oil from a vessel seized off the coast of Venezuela, with the ship expected to head to a U.S. port as investigators interview the crew members. This action reflects the ongoing tensions between the U.S. and Venezuela, particularly amid heightened military presence in the region.

Mexico has enacted tariffs of up to 50% on Chinese goods, a move that has sparked significant backlash from Beijing. This decision comes as lawmakers target countries with which Mexico lacks trade agreements, specifically focusing on China amidst ongoing trade tensions.

China's Communist Party leadership has expressed concern over declining investment levels, pledging to stabilize this crucial driver of economic growth. This acknowledgment comes amid ongoing economic challenges, including disappointing earnings and a contracting manufacturing sector.

The U.S. trade deficit narrowed to its lowest level in five years in September, primarily due to a reversal in gold imports as investors moved their stockpiled gold back overseas after initial fears of tariffs did not materialize. This shift reflects a significant change in trade dynamics, particularly in the precious metals market.