Top Overnight News Mojtaba Khamenei called for pursuing the conditions set out by Iranian officials with the aim of ending the war during a meeting with Iran’s Supreme National Security Council Secretary Mohsen Rezaee; the meeting also covered Iran’s management of the Strait of Hormuz. BBG Iran's ambassador to South Korea said Iran has proposed a seven-day plan to the US, under which the Strait of Hormuz would reopen on the sixth day if Washington accepts the conditions, with negotiations beginning on the seventh. Newsquawk China will send special envoys to the Middle East, adding to efforts to defuse tensions and prevent the resumption of US-Israeli strikes against Iran. BBG Saudi Arabia contained a fire near its Ras Tanura oil hub after an attack; the Houthis claimed they targeted the refinery. BBG Iran said it will take legal action against Sinokor vessels in the Strait of Hormuz. BBG Israelis are voting in their first election since the 2023 Hamas attack, with Benjamin Netanyahu seeking another term in a razor-thin race against an opposition led by former military chief Gadi Eisenkot. BBG China’s industrial profits grew at their strongest pace last month since June, as a boom in manufacturing tied to artificial intelligence offset drag from persistently weak domestic demand. CNBC South Korea’s economy grew faster than expected in the third quarter as an artificial intelligence-fueled chip boom powered exports and investment, but a contraction in consumption underscored an increasingly uneven expansion that may complicate the trajectory for further interest-rate hikes. BBG The BoJ’s gauge of underlying inflation surged to the highest in three years, well above the bank’s 2% target. Consumer prices excluding fresh food and special factors rose 3.2% in September from a year earlier, with the pace quickening from 2.6% in the previous month. BBG French consumer confidence plunged to a 13-year low in October as households grappled with a bond selloff and violent protests. Respondents became more worried about finances, living standards and unemployment. BBG Flávio Bolsonaro dropped his challenge to Brazil’s election result as his party conceded defeat. Attention now turns to how Lula da Silva will govern as fiscal strains mount and investors question whether he’ll rein in spending. BBG Private-equity firms are scrambling to avoid big losses from a potential wave of defaults by the companies they own. Fund managers are racing to negotiate loan extensions on much of a $300 billion wall of debt that is coming due starting in 2028. It is a pressing need that is intensifying because rising interest rates have made refinancing more expensive this year. WSJ The United States and Canada are working on a deal to ease US tariffs on Canadian steel and autos, two US and four Canadian sources said, as the two governments try to repair relations that soured after trade talks broke down in August. RTRS Meta’s common stock offering was upsized to $25 billion from $22.5 billion, while Broadcom arranged a $63 billion deal to finance the purchase of chips for Anthropic. BBG The US plans a two-month extension to its shipping-fee truce with China, pausing charges on Chinese-linked ships calling at American ports. BBG Trump is set to unveil a plan to dial back federal requirements designed to slash methane emissions from oil and gas operations. BBG The ECB's bank lending survey showed banks tightened credit conditions and saw loan demand fall, while ECB MRO funding rose to €27 billion, the highest since 2017. BBG US President Trump posted "The Trump Administration is proud to announce a 250 MILLION DOLLAR PLUS initiative to RECRUIT and RETAIN Nurses for Nursing Homes!" US appeals court denied the Trump administration's request to stop California from counting mail ballots from alleged non-citizens. Goldman's Jan Hatzius says the firm's strongest global view is that central banks will deliver fewer hikes than currently priced, with energy the most immediate downside growth risk. GIR JPM's Feroli expects the Fed to hold this week with hawkish dissents from Hammack and Logan, and sees a risk that Kashkari also dissents. JPM(Historical earnings: For fiscal 2026 Q3 (period ended 2026-08-02), Broadcom reported basic EPS of 6.26, diluted EPS of 6.09, and revenue of USD 71.089 billion. Consensus expectations: Consensus for fiscal 2026 Q4 (event date 2026-12-09) expects EPS of 3.45 and revenue of USD 35.574 billion.)