Market News

Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in markets, finance and the economy. And sometimes it's contributions from our network of expert guests and sources. Whatever it is, we promise it will always be interesting.

Brazilian corporates face mounting pressure from their exposure to private credit funds that have grown rapidly in recent years, according to Fitch Ratings.

Democratic House Minority Leader Hakeem Jeffries says he will remain "deeply skeptical' of Republicans and their plan to end the government shutdown. The US Senate passed a bipartisan procedural bill to reopen the government. (Source: Bloomberg)

Barrick Mining Corp.’s longtime chief executive Mark Bristow helped build a sprawling portfolio of mines that spanned multiple continents and commodities. Now, after Bristow’s abrupt departure, the new leadership sees a future mostly in North America’s gold deposits.

Tyson Foods Inc. said it expects profits to be little changed next year as its beef segment continues to lose money, even as the Trump administration points to the meatpacking industry for driving up prices. Bloomberg's Jennifer Bartashus joins to discuss. (Source: Bloomberg)

Quants are back in the green — and few are riding higher than Cliff Asness. His firm, AQR Capital, has notched double-digit gains across its biggest funds, with its flagship Apex strategy up over 15% this year. The veteran quant joined Bloomberg Open Interest to talk about the rebound and why he sees no evidence of an AI bubble. (Source: Bloomberg)

Airlines felt the brunt of escalating cancellations and delays over the weekend as mounting disruptions put passengers and crews out of place. Those likely will be exacerbated by winter weather in Chicago, where several inches of snow are expected to accumulate in the metropolitan area, the National Weather Service said early Monday. In the meantime, the impasse in Washington surpassed 40 days, though the Senate took a key step forward Sunday to reopening the government when some moderate Democrats sided with Republicans. It’s still unclear whether the stalemate will be lifted given significant opposition in the House of Representatives. Bloomberg's George Ferguson joins to discuss. (Source: Bloomberg)

Taiwan Semiconductor Manufacturing Co. reported slowing growth in monthly revenue as investors debate the sustainability of an AI boom that has propelled the stocks of customers like Nvidia Corp. this year. In other news, Nvidia Corp. Chief Executive Officer Jensen Huang said he had asked Taiwan Semiconductor Manufacturing Co. for more chip supplies as artificial intelligence demand remains strong. Bloomberg's Mandeep Singh joins to discuss. (Source: Bloomberg)

The US stock market appears historically expensive, though not at levels that would suggest a bubble, according to Cliff Asness, co-founder at AQR Capital Management.

Troubled Brazilian telecom operator Oi SA will be liquidated following two failed court restructuring processes that ranked among the largest in Brazil’s history.

IT firm ManTech International Corp. launched a $2.3 billion transaction on Monday, in part to refinance private debt, in a win for the broadly syndicated loan market.

The Canada Pension Plan Investment Board, one of the world’s largest pension funds, is looking to sell its 5.4% stake in Portuguese energy company EDP SA.

German packaging machine maker Syntegon, owned by CVC Capital Partners Plc, has drawn interest from suitors including a consortium of Clayton Dubilier & Rice and German technology firm Koerber AG, according to people familiar with the matter.

In just over a month, First Brands Group’s former chief executive Patrick James has gone from running the auto-parts firm to fighting it for control of hundreds of millions of dollars he’s accused of misappropriating for supercars and mansions.

Travel and leisure booking platform Klook Technology Ltd. has filed for an initial public offering in New York, as signs emerged of a potential resolution to the US government shutdown that could speed new listings.

Two of the biggest power companies in the US have had talks with private credit providers about raising money in what would be a first for utilities.

At least eight people died and several were injured in New Delhi after a moving car exploded around 7 pm local time on Monday. It happened in one of the most crowded areas in the city. “We are exploring all possibilities and will conduct a thorough investigation," said Home Minister Amit Shah in a televised address. (Source: Bloomberg)

Venture Global Inc.’s chief executive officer says arbitration cases filed by customers of the company’s first liquefied natural gas export plant could last for years.

Silver held in London vaults swelled by the largest amount in at least nine years, easing an extreme squeeze that sent prices soaring over metal stored in Shanghai and New York.

A flurry of Argentine companies is moving to sell global bonds as chief financial officers rush to capitalize on strong investor demand following President Javier Milei’s victory in congressional midterm elections.