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The Daily Briefing · Tuesday, October 20, 2026
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Micron Technology Stock: Chip Rout Erases $2T in 2026
The Philadelphia semiconductor index fell eight sessions straight, its longest losing run since 2008, before rebounding on Monday as Micron regained $1 trillion.
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Also today
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Chevron, Exxon Hit 52, Week Highs as Brent Nears $111
Chevron (CVX) and Exxon Mobil (XOM) hit 52, week highs as U.S. and Israeli threats against Iran lifted Brent to about $111, its highest since early May.
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Ukraine Hits St. Petersburg as US Ties Sour Before Summit
Ukraine's record drone strike on St. Petersburg killed one person, as Washington's rift with Kyiv widens before a possible Russia, US, China summit in November.
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10, Year Treasury Yield at 5.08% as Fed Rate Decision Nears
The 10, year Treasury yield sits near 5.08% as the Fed meets Oct. 27, 28, and futures price a 15% chance of a hike under Chair Warsh, who won't rule one out.
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Meta and Tesla Earnings Test the AI Trade on Wednesday
Meta and Tesla report after the bell Wednesday, with Meta's $130, 145B capex guidance and a roughly 15% Tesla earnings decline testing the AI trade.
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More headlines
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France Riots Lift 10, Year Yield to 4.86%, CAC 40 Down 1.2%
France's weekend riots and nearly 2,400 arrests pushed the 10, year yield to 4.86% and the CAC 40 down 1.2%, as markets watch the 2027 budget vote closely.
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Dell Drops 11% as Barclays Downgrade Hits AI Stocks
Dell (DELL) fell 11% after Barclays cut it to equal weight, saying server growth reflects memory costs, not enterprise AI demand, and hitting AI stocks broadly.
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Hormuz Ship Attacks Hit Record as Iran Cites Tanker Mines
Attacks on ships in the Strait of Hormuz hit a record high as Iran claims two supertankers hit mines, the US and Iran both claim control, and Brent nears $108.
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Trump Russia Oil Sanctions Waiver Pushes Brent Lower
Trump's waiver of Graham Act sanctions on Russia sent Brent crude down 1.3% to $108.43 as Zelenskyy and Republican senators including Ted Cruz objected.
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SpaceX (SPCX) Q3 2026 Earnings: First Profit in Focus
SpaceX (SPCX) reports third, quarter 2026 results Tuesday, with a first profit expected, as AI debt worries push the stock down about 9% this week to near $146.
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OpenAI Revenue Gap Deepens AI Funding Worries in 2026
OpenAI's annualized revenue is about $50B, not the $70B figure circulated, and its IPO has slipped into 2027, rattling AI stocks and funding assumptions.
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Houthi Strikes on Saudi Aramco Lift Brent to $110
Houthi missile and drone strikes on Saudi airports and Aramco sites have killed 20 and ended the 2022 truce, pushing Brent to a five, month high near $110.
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Market briefs
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From the startup desk
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Video of the day
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Why We Left the Gold Standard
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The Daily Briefing from Pomegra. Market news, educational content only. Nothing here is investment advice.
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