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- Trump Media Drops 7% While Rumble Climbs 3% Against a Rising Market
Trump Media (DJT) fell 7% to $6.48 while Rumble (RUM) rose 3% to $5.87, and the article attributes the split to company-specific factors rather than the broader market, where SPY was up 0.6%. Trump Media's Q2 revenue was $1.7 million, up 92.5% from a year earlier, but its net loss was $238.1 million, including $190.4 million of non-cash unrealized losses on digital assets and equity securities. It held $1.9 billion in financial holdings, so its share price is sensitive to swings in digital asset prices. Q2 legal expenses reached $25.6 million, and adjusted EBITDA loss widened to $223.5 million from $12.8 million a year earlier. The company is also pursuing an all-stock merger with private fusion developer TAE Technologies, targeted to close in Q4 2026, pending shareholder and regulatory approvals.
- Trump Media Declines 6% as Broad Selloff Weighs on High-Beta Stocks; Rumble Drops 8%
Trump Media & Technology Group (DJT) fell 6% to $6.94 and Rumble (RUM) dropped 8% to $5.66 in afternoon trading, while the SPDR S&P 500 ETF (SPY) declined 1.44% and the Global X Social Media ETF (SOCL) slipped only 0.4%. The article attributes the sharper moves to smaller, more volatile stocks taking outsized losses when risk appetite fades. Trump Media has filed a registration statement for an all-stock merger with TAE Technologies, a fusion energy developer also working on power management for AI computing and cancer therapy, with shareholders of each side expected to hold roughly equal stakes in the combined company. Trump Media's revenue is minimal relative to its cash, digital assets and investments, and the deal still requires shareholder and regulatory approvals. Rumble earns revenue from advertising, subscriptions, licensing and creator tipping, so its bull case depends on audience growth.
- Trump Media and Rumble Decline 5% as September Inflation Runs Above Forecasts; Reddit Slides 2%
US CPI rose 3.7% year over year in September, above the 3.6% Dow Jones consensus, pushing stock index futures negative and sending speculative social-media stocks lower. Trump Media (DJT) and Rumble (RUM) each fell 5%, Reddit (RDDT) slid 2% to $152.27, while the SPDR S&P 500 ETF (SPY) dropped only 0.64%. Stronger inflation can delay Fed rate cuts and weigh on loss-making companies, with the 10-year Treasury yield at 5.24% as of October 9. Trump Media posted Q2 2026 revenue of just $1.7 million and a net loss of $238.11 million, of which $190.4 million came from unrealized losses on digital assets and equity securities; its all-stock merger with TAE Technologies targets a Q4 2026 close, but the SEC has not yet declared the registration effective. Rumble's Q1 2026 revenue was $25.46 million, down 15.8% year over year and below the $27.09 million consensus, with a net loss of $30.27 million.
- Premarket : Global stocks slide again as oil stays high ; AI earnings in focus
European shares fell for a second straight day as crude oil kept climbing, with Brent hitting a five-month high above $110 a barrel, while protests in France raised concerns over public finances. The pan-European STOXX 600 dipped 0.6%, and European semiconductor stocks including ASML fell more than 3%. Elsewhere, Nasdaq futures slipped 0.3%, gold dropped 0.4% to $4,122 an ounce and bitcoin fell 0.7% to $81,339.5. Investors are also awaiting AI-related earnings, and South Korea's Elice Group fell nearly 30% after its stock dropped below its IPO price in its market debut.
- Meta, Tesla, SpaceX Take Center Stage As Earnings Season Kicks Into High Gear. Everything You Need To Know.
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- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
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