Thursday, October 08, 2026 — Midday: Oil spikes on a Persian Gulf tanker attack and U.S. Gulf shutdowns, 10-year Treasury yields stay near 24-year highs, and Starbucks (SBUX) takeover chatter lights u

Geopolitics: Saudi-Houthi escalation is hitting Riyadh with booms and flight disruptions, China is building a military base in Laos, and India/Turkiye are trying to broker a Russia-Ukraine truce. Watch oil, defense, and Asian supply chains. Earnings/corporate: PepsiCo (PEP) cut its earnings growth outlook on North America margin pressure even as Q results topped views — a consumer staple warning. SBUX exploring a CMG deal is a burrito-sized traffic bet. ADC Therapeutics (ADCT) restructuring shows biotech refis are tight. Tech/AI: Google (GOOGL) is launching a universal Gemini agent for enterprise tasks, MSFT/NVDA push agentic PCs, and GlobalFoundries (GFS) will make a key AI chip component for TSMC (TSM) in a $2B deal. Contrast: Nvidia-backed Firmus cut its IPO price 25% — AI data-center window slamming shut for also-rans. Macro/rates: ECB accounts dampened near-term hike bets, but the Treasury market faces a confidence vote with yields near 24-year highs. Prediction markets: 62.5% Fed

Geopolitics: Saudi-Houthi escalation is hitting Riyadh with booms and flight disruptions, China is building a military base in Laos, and India/Turkiye are trying to broker a Russia-Ukraine truce. Watc