1. Donald Trump surges to a record lead over Kamala Harris in the betting markets.

Citigroup strategists recommend selling any rally in US stocks if next week’s election results in a Republican sweep, as they view such a scenario as leading to uncertainty for corporate earnings.

On the other hand, the strategists see a buying opportunity in case of stock declines sparked by a victory for Harris alongside a split Congress.

2. Both candidates are proposing deficit-widening policies, according to calculations from UBS.

3. The U.S. economy continued to grow this summer, bolstered by hefty consumer and government spending.

It’s a continuation of a roughly two-year streak of strong growth even in the face of historically high borrowing costs.

4. Microsoft reported 33% quarterly growth in its cloud-computing business, indicating its heavy investment in AI is paying off.

5. China's BYD overtakes Tesla revenue for first time.

It posted more than $28.2bn in revenues between July and September, a 24% jump from the same period last year.

It comes as EV sales in China have been getting a boost from government subsidies to encourage Chinese consumers to trade their petrol-powered cars for EVs or hybrids.

Due to a high level of vertical integration, including controlling production of batteries and computer chips, BYD’s gross margin of 21.9 per cent is far ahead of Tesla’s 17 per cent.

6. Morgan Stanley continues to rate the European banking sector as attractive, despite short term volatility.

“Earnings remain resilient, with the sector seeing positive earnings revisions and an expected 32% total yield over 2024-26e.

On 7x P/E, the sector is trading at a c.50% discount to the market.”

7. Meet Boston Dynamics’ new humanoid, called “Atlas”.

Boston Dynamics’ first applications for its humanoid include work in automotive factories.

This makes a lot of sense, given that the firm is now owned by Hyundai.

In addition to the autonomously executed tasks, the video showcases impressive adaptive actuators, as the robot pivots at its waist.

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