- US and China Collaborate on Green Energy Boost for Climate Action: The United States and China have reached an agreement to enhance their efforts in promoting green energy as a significant gesture towards climate action.
- Recap of last week's stock market performance: Dow Jones Industrial Average Index ($DJI): +2,01% NASDAQ 100 Index ($NDX): +2,38% SPDR S&P 500 ETF Trust ($SPY): 2,62% EURO STOXX 50 EUR Price Index ($SX5E): +3,22%
- Michael Burry Exits $1.6 Billion Short Bets on US Market ETFs: Michael Burry, renowned for his successful subprime crisis bets depicted in "The Big Short," has closed out $1.6 billion in short positions against two exchange-traded funds (ETFs) tracking the US market. Scion Asset Management, Burry's hedge fund, liquidated short positions against the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ ETF, amounting to $887 million and $739 million, respectively, between June 30 and September 30.
- Saudi Arabia Considers Prolonging Oil Production Cuts into Next Year: In response to falling oil prices and escalating tensions from the Israel-Hamas conflict, Saudi Arabia is reportedly preparing to extend its 1 million barrel-a-day cut in oil production into the next year. This decision comes as oil prices hit a four-month low at $77 a barrel, prompting considerations for further reductions by OPEC+.
- Germany, France, and Italy Agree on AI Regulation Framework: A joint paper seen by Reuters indicates that Germany, France, and Italy have reached an agreement on how artificial intelligence (AI) should be regulated in the future. The three governments support the implementation of binding voluntary commitments for both large and small AI providers within the European Union. This collaborative effort is expected to accelerate negotiations at the European level regarding the regulation of AI technologies.
