Military & Geopolitics - The U S is deploying the USS Jerry Ford carrier strike group to the Caribbean amid rising tensions with Venezuela, potentially targeting drug facilities and trafficking routes [4] - The U S has already conducted 10 strikes on suspected drug smuggling, resulting in over 40 deaths, raising legality concerns [6] - President Trump has imposed sanctions on Colombia's President Petro, accusing him of allowing drug trafficking [8][10] - The U S military presence includes B-1 bombers, F-35 squadrons, 8 warships, submarines, air patrol vehicles, and Reaper drones [59] - The President confirmed a covert CIA operation is happening on the ground in Venezuela [71] Trade & Economics - Trade talks between the U S and Canada were halted due to a controversial TV ad, leading to potential discussions at the APEC summit [2][14][16][23] - Ontario agreed to pull the anti-tariff ad starting Monday to allow trade talks to resume [15] - The market shrugged off trade concerns, focusing on inflation numbers and expectations of future Fed rate cuts [32][33][34] - A delayed CPI report showed softer-than-expected inflation in September, strengthening the case for more rate cuts [40] - The Treasury Department approved a $20 billion rescue package for Argentina, along with another $20 billion in private financing [48] Politics & Policy - New York Attorney General Letitia James pleaded not guilty to mortgage fraud charges, alleging political motivation [3][86] - The administration will make its case in court for the right to layoff thousands of federal workers amid the government shutdown [39] - 25 states could cut off SNAP food benefits, affecting 42 million Americans, if the government remains closed [40] - The White House framed the softer-than-expected CPI number as justifying the view that tariffs are not inflationary [43]

Ontario Premier Doug Ford on Friday said his province would pause ads that showed former President Ronald Reagan criticizing tariffs, after President Donald Trump condemned the move and announced he would “terminate” trade talks with Canada.Read more: https://t.co/rPRnzadije📸: Anna Moneymaker via Getty Images ...

All right, Shan. I mean, it's pick your pick your spot, right. We're We could close above 6,800 on the S&P. We could close above 2500 on the Russell, and we are going to close above 47K on the Dow.>> Yeah, it's it's really the so what shutdown story, Scott. We're moving into another week of a government shutdown and yet, you know, we got the the the data release we needed, right. The inflation data release, which continues to be supportive of what the Fed wants to do.They want to make they haven't seen that ...

Prime Minister Mark Carney said Canada is ready to resume trade talks “when the Americans are ready,” after Trump halted negotiations https://t.co/xcjVSfVaQW ...

It’s going to be a pivotal moment for the Milei trade — and nobody wants to be caught on the wrong side of it again https://t.co/5zhT4EbhRN ...

Ontario Premier Doug Ford appeared to stand by a television ad that angered Donald Trump and prompted the US president to call a halt to trade talks with Canada https://t.co/UlnqGDOwHS ...

Trump Says Trade Talks With Canada ‘Terminated’—Blames ‘Fake’ Anti-Tariff Ads Featuring Reaganhttps://t.co/yJ3qOIrZ2s https://t.co/N4RtDuFCEq ...

RT BBC Breaking News (@BBCBreaking)Trump says US terminating all trade talks with Canada due to anti-tariff advert https://t.co/mHFtJzVXMC ...

Market Sentiment & Trade - Market views any positive developments in China trade favorably [1] - Market had shifted focus away from trade until recent trade tensions resurfaced, impacting AI-related sectors due to rare earth material concerns [2] - Market sentiment is currently focused on a strong economy, positive earnings, and potential rate cuts [3] - China trade headline risk is present, but not viewed as material risk based on CH's calm reaction [6][7] Momentum & Rotation - Market experienced a momentum unwind, potentially nearing its end, with the first negative month in seven and declines in MTUM names [4][9] - Despite the momentum unwind, the overall market remains up, indicating a rotational move rather than outright distribution [10] - Momentum shakeout hasn't significantly impacted broader market sectors; some sectors like healthcare and discretionary are improving [11][12] - Debate exists whether the momentum unwind is over or still in progress, with Morgan Stanley suggesting it's only halfway through [9] Sector Performance & Economic Indicators - Defensive sectors, like healthcare, are outperforming in October, potentially due to profit-taking and rotation into underperforming assets [5] - Banks are showing slight weakness, but overall, leaning into strength is still favored [8] - High yield CDX remains relatively calm despite bankruptcies, indicating no significant deterioration in credit markets or consumer stocks; consumer stocks may be reaccelerating [7] - Utilities' performance is tied to power and AI, diminishing its reliability as a defensive sector indicator [14] Market Breadth & Global Markets - Market breadth remains relatively strong, with a significant percentage of S&P 500 companies above their 200-day moving average [15] - Global markets, including China, Japan, and Europe, are reaching new highs, indicating no widespread negative impact from the momentum unwind [12]

The Problem With the ‘Sell America’ Trade https://t.co/t8S7ty4LBO ...