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- Trump says Iran war will end 'when I want it to' as costs reportedly balloon to $47 billion
U.S. President Donald Trump reiterated that the Iran war will end “whenever I want it to,” while insisting Tehran cannot have a nuclear weapon. At a rally in Lubbock, Texas, he said the end “would be very quick” but requires a “total statement” that Iran will never have one. His approval rating stands at 32% in a Reuters/Ipsos poll, near a record low amid rising energy costs ahead of the Nov. 3 midterm elections. Moody's Analytics estimates the war is costing American families an average of $2,000 so far, including $1,100 from higher energy costs, $540 from higher interest rates and $360 from increased military spending. A U.S. Central Command estimate from Oct. 16 put the war's cost at $47 billion, about $3 billion more than previously reported, mostly for munitions replacement, and excludes an estimated $184 million in damage to U.S. facilities in the Middle East as of June 29.
- Good News from US: Russian Diesel May Keep Flowing to Market
US Energy Secretary Chris Wright said Washington could allow more Russian diesel onto the global market, depending on Moscow's actions, calling the easing of sanctions “a carrot” to encourage the Kremlin to end the war in Ukraine. Under a deal between Trump and Putin, Moscow will export 800,000 tonnes of diesel in October and November, followed by another 1 million tonnes, as Trump faces pressure to curb fuel price rises before the Nov. 3 midterm elections. Analysts say the volumes are too small to materially affect global fuel prices, given world demand of around 28 million barrels per day. The deal has drawn fierce opposition from Ukrainian President Volodymyr Zelenskyy and from some Republican and Democratic lawmakers, who called it “a gift to adversaries and a betrayal of allies.” Critics also warn the easing could benefit Russia while Kyiv keeps striking Russian refineries to cut its energy export revenue.
- OpenAI plans to buy Google AI chips to expand computing capacity - The Information
OpenAI plans to buy AI chips from Google, part of Alphabet, to expand its computing capacity and diversify its processing power sources, according to The Information, citing a person familiar with the matter. Final terms of the potential deal have not been determined. The chips are Google's tensor processing units (TPUs), which have emerged as an alternative to Nvidia's GPUs that dominate AI computing, as demand for chips to train and run AI models surges. OpenAI is also developing its own chips, called Jalapeno, with Broadcom, aiming to support its AI models later this year. The reported move reflects a broader industry push toward custom silicon and less reliance on external suppliers.
- Will the Fed raise interest rates several more times?
The Fed is expected to keep rates unchanged at its October 27-28 meeting, after raising them by 0.25 percentage points in September to a 3.75-4% range, and investors are watching for signals from Chair Kevin Warsh on next steps. Inflation remains high: September CPI rose 3.7% year on year, while core CPI rose 2.6%, 0.3 percentage points above August. Meanwhile, the housing market remains sluggish as mortgage rates exceed 7%, and the labor market is unusual, with few layoffs but also limited hiring. According to CME Group's FedWatch tool, markets put about a 10% chance on a rate hike in October but over 80% for December. Krishna Guha of Evercore ISI said Warsh's message fits a scenario of a hike roughly once a quarter, though this is not a fixed path.
- One company fined for failing to report planned trades
The State Securities Commission (SSC) fined Đầu tư – Xây dựng – Thương mại – Sản xuất CNC 435 million dong, equal to 3.5% of the actual traded securities value at par, for failing to report its planned trades. The company is linked to Vương Tấn Hát, chairman of the board of Công ty CP Đầu tư và Xây dựng Công trình 3 (CT3), and bought 1,242,379 CT3 shares on October 17, 2025. The purchase brought total holdings of the company and related parties to 2,238,734 shares, or 25.44% of voting shares, without a public tender offer, which drew a 225 million dong fine. The company was also suspended from securities trading for 3.5 months, must give up voting rights on the shares involved, and must sell shares to reduce its stake below the public tender threshold within six months, with total fines of nearly 660 million dong.
- Why SoFi Stock Popped Today
Shares of SoFi Technologies rose more than 13% after the digital financial services provider issued an optimistic growth forecast. Third-quarter adjusted net revenue surged 44% to $1.4 billion, members grew 35% to 17.1 million, financial products rose 44% to 26.7 million, and adjusted net income soared 74% to $243 million. SoFi expects full-year 2026 adjusted net revenue to grow 40% to $5.04 billion, with net income of $840 million and EPS of $0.61, and sees adjusted net revenue of $6.4 billion and EPS of $0.90 in 2027. CEO Anthony Noto said the company is adding more members and products to create long-term shareholder value.
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