• Schneider buys PTC for $22.6B: Schneider Electric (EPA:SU) agreed to acquire PTC (PTC) for $205 per share in cash — a 42% premium — expanding its industrial AI and software portfolio. PTC jumped 35% premarket, while Schneider Electric fell over 8%. Source: WSJ.
• Skydance names co-CEO: Mattel (MAT) CEO Ynon Kreiz will become co-CEO of the combined Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD), helping integrate the companies. Source: CNBC.
• OpenAI safety debate continues: Former OpenAI safety employee David Robinson resigned, arguing that the firm's rapid development culture creates safety risks. Meanwhile, CEO Sam Altman said AI's benefits justify accepting some risks. Sources: Reuters / Reuters.
• Cerebras rises on Altman backing: Cerebras Systems (CBRS) is rising 6% premarket after OpenAI CEO Sam Altman called it a “close partner,” easing concerns after OpenAI chose Nvidia (NVDA) chips for its latest AI models. Source: CNBC.
• Microsoft's new features: Microsoft (MSFT) is set to unveil RTX Spark PCs and new Windows experiences for developers at an Oct. 7 event, with Nvidia (NVDA) CEO Jensen Huang attending. Source: The Verge.
• Foxconn revenue surges on AI: Foxconn (TPE:2317) reported a 47% jump in Q3 revenue to $95.4B, beating forecasts as AI demand boosted cloud and networking sales. Source: Reuters.
• Procter & Gamble leans on AI: Procter & Gamble (PG) is using AI to boost manufacturing, R&D, and marketing productivity as tariffs and energy costs raise expenses. CEO Shailesh Jejurikar said no additional layoffs are planned. Source: NY Times.
• Keurig launches compostable pods: Keurig Dr Pepper (KDP) is taking preorders for its $500 Alta coffee and espresso machine, replacing traditional pods with compostable pucks, though they still come in plastic wrappers. Shipping is expected to begin Oct. 21. Source: The Verge.
• Revolut challenges banking giants: Revolut’s private valuation has reached $115B as customers hit 80M and profits grow rapidly. Yet low revenue per customer, limited lending, and regulatory setbacks remain hurdles as it expands globally. Source: Reuters.
• European EV sales hit record: EU electric-vehicle sales jumped 45% to 1.64M through August, reaching 22% market share as cheaper models expand. European automakers hold nearly 60% of available EV models, versus 21% for Chinese brands. Source: Reuters.

• G7 releases fuel reserves: The G7 agreed to release 100M barrels of diesel and crude reserves over four months after U.S. pressure, aiming to ease fuel prices strained by the U.S.-Iran war before the midterms. The plan includes a front-loaded diesel release. Sources: CNN / BBC.
• OPEC+ holds output steady: OPEC+ kept November production targets unchanged as Middle East disruptions leave output below quotas. Prices remain elevated despite planned reserve releases. Source: CNBC.
• Aramco says squeeze may persist: Saudi Aramco's (TADAWUL:2222) CEO said rebuilding global oil inventories could take two years after the Iran war disrupted nearly 3B barrels of supply. Source: CNBC.
• Euro falls to 17-month low: The euro fell as much as 0.8% to $1.1161, its weakest since May 2025, as France’s fiscal strains and Spain’s snap election increased political risk. A stronger dollar also pressured the currency. Source: Bloomberg.
• Euro-zone growth accelerates: Euro-zone business activity grew at its fastest pace since April 2023 in September, with strong demand lifting the composite PMI to 53.1. Rising inflation and stronger growth are increasing expectations for further ECB rate hikes. Source: Reuters.

• Middle East updates: Two tankers were struck in the Strait of Hormuz over the weekend, with one suffering engine-room damage. Yemen’s Saudi-backed government also launched a campaign to retake Houthi-held territory, including the Bab el-Mandeb Strait. Additionally, the U.S. Air Force brought home B-1 bombers stationed at RAF Fairford after authorities investigated a planned terror attack. Sources: CNBC / Reuters / AP.
• Russia intensifies Kyiv attacks: Russia is escalating strikes on Kyiv’s energy, telecom, and transport infrastructure as Ukraine targets Russian oil refineries. The U.S. is proposing trilateral peace talks by the end of October. Source: CNBC.
• Spain calls snap election: PM Pedro Sánchez called a Nov. 29 election after his minority coalition lost a vote on emergency housing measures, with a housing crisis, migration pressures, and corruption allegations weighing on his government. Source: NY Times.
• Brazil election heads to runoff: Flávio Bolsonaro led President Luiz Inácio Lula da Silva 47% to 45% in Brazil’s first round, sending the race to an Oct. 25 runoff. Source: NPR.
• Russia monitors possible plague outbreak: Nearly 200 people are under medical observation in Russia’s Irkutsk region after a researcher died following a suspected plague infection. Source: CNBC.

• Trump creates AI task force: President Trump unveiled a “Super Intelligence Force,” led by Director of National Intelligence Jay Clayton, to coordinate federal AI policy and help maintain U.S. leadership in the technology. Source: BBC.
• Supreme Court opens new term: The Supreme Court is beginning its new term today with cases involving climate liability, guns, religion, transgender rights, and Trump’s deportation policies, carrying major implications for energy companies and U.S. policy. Source: WSJ.
• Trump revives $5,000 checks: Trump pledged $5,000 payments to U.S. adults if Republicans retain Congress, a plan estimated to cost $1.2T and require congressional approval. Smaller Medicare and Obamacare payments are underway. Source: CNBC / Reuters.

• 10:00 AM: ISM Services PMI
• Wednesday: FOMC Minutes
• Friday: Michigan Consumer Sentiment Prelim.

• There are no major recent earnings to report today, but you can check the earnings calendar for a complete list.

Constellation Brands (STZ) will report tomorrow after market close.

• Analysts estimate revenue of $2.55B (+2.67% YoY).
• EPS is estimated to be $3.57 (-1.65% YoY).
• Financials · As Reported · Metrics

RPM International (RPM) will report tomorrow before market open.

• Analysts estimate revenue of $2.22B (+5.16% YoY).
• EPS is estimated to be $1.95 (+3.72% YoY).
• Financials · As Reported · Metrics

Lamb Weston Holdings (LW) will report tomorrow before market open.

• Analysts estimate revenue of $1.65B (-0.29% YoY).
• EPS is estimated to be $0.59 (-20.27% YoY).
• Financials · As Reported · Metrics

PepsiCo (PEP) will report Thursday.

• Analysts estimate revenue of $24.99B (+4.38% YoY).
• EPS is estimated to be $2.30 (+0.44% YoY).
• Financials · As Reported · Metrics

Delta Air Lines (DAL) will report Friday.

• Analysts estimate revenue of $18.77B (+12.55% YoY).
• EPS is estimated to be $2.02 (+18.13% YoY).
• Financials · As Reported · Metrics

• There are no IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.