Top Overnight News Getting data centers built is “going to be harder” after the midterm elections, said Meta Platforms President Dina Powell McCormick—but perhaps not as hard as it now appears. WSJ Micron Technology Inc. has suspended plans for a memory chip plant in Taiwan due to a labor dispute, throwing into question the fate of a major production base for crucial AI components. BBG President Trump has conceded that the Iran war cost Republicans dearly in the midterms. Now he must decide whether to cut his losses and reach a deal — or double down and go back to bombing: WSJ House could vote to impeach Hegseth as soon as next week as Republicans turn against the Def. Sec. CNN Iran’s navy claimed a tanker hit a mine in Hormuz on Thursday morning, IRNA reported; UKMTO separately said a tanker was struck by two unidentified projectiles 50NM north of Qatar late Wednesday. BBG Iran and Oman’s foreign ministers discussed arrangements to secure sea routes and measures to keep trade and energy flowing. BBG After Yemen’s Iran-backed Houthi rebels attacked Saudi Arabian oil tankers in the Red Sea and seized territory commanding the strategic Bab al-Mandeb chokepoint, the kingdom reached out to the group to see what it would take to arrive at a negotiated halt to the hostilities. The answer it got back: $51 billion. WSJ The oil industry is bracing for Democrats to use their newfound political muscle to push for a deal with Donald Trump to impose a windfall tax on surging crude prices, people familiar said. BBG BOE Hikes rates as expected, 8-1. BBG BOE Governor Bailey said the hike is unlikely to be the last unless the Iran war is resolved; Catherine Mann dissented in favor of a 50bps hike, and traders now see a 50% chance of another hike in December. BBG Gold’s fortunes may be about to turn. Speculators are returning after two months of pullback as the Democratic sweep raises hopes for an end to the Iran war and tempers Fed rate-hike expectations. China’s considering selling dollar and offshore yuan denominated bonds as early as this month, people familiar said, as Beijing seeks to deepen its presence in international debt markets. BBG China blocked the sale of ABB’s robotics unit to SoftBank, dealing a blow to the Japanese investment firm’s plans to expand into physical AI. BBG Ukraine confirmed a strike on Russia’s Ryazan refinery, one of the country’s largest, as it steps up attacks on Russia’s oil industry ahead of trilateral talks next week. BBG Wendy’s rejected a takeover proposal from a Trian Partners-led group. BBG DTE Energy agreed to sell its DTE Vantage business for about $3 billion. BBG Taiwan’s central bank sold the most foreign exchange since June as the Taiwan dollar slid to its lowest in over a year on equity outflows. BBG South Korea’s Finance Minister said to closely monitor changes in US policies on AI and tariffs, as well as Middle East conflict after the midterm elections, while they will be prepared for the possibility of increased market volatility. Newsquawk Japan said that US midterm election results will not affect the strength of the bilateral alliance: Kyodo Democratic state and local wins are likely to lead to short-term data centre moratoria, potentially affecting about 45% of planned US data centre capacity expansion, though GS expects these moratoria will not be long-lived. GIR (Phillips) JPM credit research: no material changes expected to 2027 data center capital plans, but some impact in 2028 and beyond; Texas, where ~27% of HY project-finance-funded data center MW are being built, is the primary focus. JPM(Historical earnings: For fiscal 2026Q2 (period ended 2026-06-30), Meta Platforms reported basic EPS of 16.79, diluted EPS of 16.62, net income of USD 42.621 billion, and revenue of USD 117.111 billion. Consensus expectations: For the next upcoming period (2026Q4, event date 2027-01-26), consensus expects EPS of 8.278 and revenue of USD 73.742 billion.)