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Top Overnight News
Talks between top Senate Democrats and the Trump administration to avert a government shutdown have moved closer to Democrats’ demands, though no deal has been reached yet, a person familiar said. Talks included restrictions on ICE agents. BBG
US Senate Majority Leader Thune sees a possibility to avoid a shutdown by week’s end after Senate Minority Leader Schumer lays out Democrats' demands on ICE: CNN
President Trump is weighing options against Iran that include targeted strikes on security forces and leaders to inspire protesters, multiple sources said, even as Israeli and Arab officials said air power alone would not topple the clerical rulers. RTRS
Nvidia, Microsoft and Amazon may invest up to $60 billion in OpenAI’s new funding round. The Information
Nvidia Corp. hasn’t yet received any orders from Chinese customers for its H200 AI chips as Beijing is still deciding whether to allow imports of the US firm’s components, according to Jensen Huang. BBG
Cuba only has enough oil to last 15-20 days at current levels of demand and domestic production after its sole supplier Mexico appeared to cancel a shipment while the US blocked deliveries from Venezuela. FT
Chairman of a US House of Representatives committee said in a letter that NVIDIA (NVDA) helped DeepSeek hone AI models later used in China's military: Reuters.
Gold and silver hit new records, lifting commodities as a weaker dollar and geopolitical tensions fueled demand. Copper surged on speculative trading in China. Brent hit $70 a barrel after Donald Trump renewed threats against Iran. BBG
Shares in Chinese property developers surge on news that China has done away with borrowing limits on property developers known as its "three red lines" policy, an apparent end to rules that triggered a debt crisis which continues to weigh on the world's second-largest economy. RTRS
Indonesia’s stock market suffered its worst two-day rout since 1998, triggered by MSCI’s warning of a possible market downgrade due to transparency concerns. Regulators stepped in and announced plans to double the minimum free-float requirements. BBG
Sweden’s central bank held its key rate at a three-year low of 1.75%, as expected, and stuck with its forecast for no change until next year. BBG
Regional banks are on track to outperform the S&P 500 for a third month, the longest streak since 2022. With valuation multiples still below their long-term average and 10% of an S&P gauge set to disclose results in the next two days, the door is open to more gains if profits come in strong.
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