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European stocks exposed to Brazil fell after President Luiz Inácio Lula da Silva came from behind to win Brazil’s runoff election, with investors dealing with the twin shock of Lula’s improbable win and Flávio Bolsonaro’s calls for the vote to be annulled.
The European Union is planning to use safeguard measures to cut imports of products from sectors including chemicals, furniture and machinery from China, according to people familiar with the matter.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 - Bloomberg's "The Opening Trade" Begins
00:01:39 - Lula's Shock Brazil Election Victory
00:04:02 - Oil Falls Despite Trump's Iran Rhetoric
00:05:41 - ECB, Fed and BOJ Decisions Ahead
00:06:21 - Massive Week for Tech and AI Credit
00:08:32 - What to Watch
00:11:28 - SpaceX's $40 Billion Debt Deal, Central Banks and Hawkish Holds
00:15:07 - DZ Bank's Sonja Marten on ECB Faces France and Inflation Risks, UK, Brexit and the Pound, Is AI in a Bubble
00:21:52 - Need to Know
00:25:40 - Bank of America's Francisco Blanch on European Gas Hits Highest Since 2022, Europe's Winter Gas Price Risk, Russia, Ukraine and the Diesel Market
00:39:23 - MLIV: Assessing the Market Reaction to Lula, Tech Earnings and AI Investment Risks
00:42:44 - European Stocks to Watch
00:48:03 - European Markets Open
00:51:54 - Jupiter Asset Management CIO Piers Hillier on Markets and Central Banks, France's Fiscal and Bond Market Risks, Energy Prices and Portfolio Strategy
00:58:00 - Jupiter Asset Management CIO Piers Hillier on Investing in Latin America After Lula's Win
01:05:12 - Roche Lung Cancer Drug Results
01:06:28 - SpaceX, Neo-Clouds and AI Debt
01:07:41 - Big Tech Earnings and AI Capex
01:09:45 - Brazil ETF Plunges After Lula Victory
01:14:48 - Need to Know: Iran, AI Productivity and Brazil
01:16:14 - Breaking News: EU-China Trade Tensions
01:17:10 - Societe Generale's Phoenix Kalen on Brazil's Election Shock and Market Outlook, Lula, Trump and US-Brazil Relations
01:26:10 - PIMCO's Rupert Harrison on UK Budget Preview, Could the UK Hold an Early Election, Could the UK Move Closer to the EU
01:32:13 - The Busy Week Ahead
01:34:13 - Fed and ECB Rate Outlook
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$150 a barrel not exceptional high?! Spin-master-general
• Economic Strain: Economists and political opponents argue that broad tariffs, rising national debt, and shifts in international trade increase global inflation, elevate bond yields, and create economic friction across international markets. • Democratic Norms: Critics often point to conservative planning documents, such as Project 2025, as a roadmap to expand executive authority and weaken traditional checks and balances within democratic systems
• Pre-Election Coordination: Reports indicate that Netanyahu and Trump have repeatedly discussed resuming large-scale operations against Iran. Netanyahu explicitly confirmed this in an October 20 speech, reinforcing that removing the Iranian regime remains their top objective. Furthermore, reports emerged that a planned massive bombing campaign targeting Iranian power plants and nuclear facilities on October 10 was temporarily shelved following U.S. objections, likely to manage domestic political blowback before the midterms. • The Domestic Energy Crisis: The war has pushed U.S. regular gas prices to a national average of $4.29 a gallon (up from $2.98 pre-war) and diesel to a record $6.35 a gallon. This energy shock is driving inflation and dragging down GOP candidates. While Trump publicly insists that expensive fuel is "a small price to pay" to prevent Iran from acquiring a nuclear weapon, he is simultaneously using rhetoric to manage public anger. He has accused Iran of deliberately executing "fake hits" and mining the Strait of Hormuz to artificially spike energy costs to damage his party at the polls. Ultimately, Wall Street's minor price drops are a reflection of traders clearing out short-term bets after a massive rally, rather than a belief in a peaceful resolution. The market remains highly vulnerable to an unprecedented price spike—potentially exceeding $130 a barrel—should a direct strike fully dismantle Iran's energy infrastructure or permanently seal off the Strait of Hormuz.
Dive? Really! Is that a wish? By Bloomberg? Yay Lula!
Acadia National Park removed educational and historical signs about Native Americans following a series of executive directives from the Trump administration designed to eliminate materials deemed disparaging to American history. The Directives Behind the Removal The removals were driven by President Donald Trump's March 2025 executive order, "Restoring Truth and Sanity to American History," alongside subsequent memos issued by Interior Secretary Doug Burgum. • The Administration's Stance: The Department of the Interior argued that national parks should not feature "improper partisan ideology" or "politically charged language". A spokesperson for the Department labeled the targeted educational language as divisive, stating that signs denigrating founding principles or using alarmist rhetoric were inappropriate for federally funded spaces. • Scope of the Campaign: Under this initiative, the National Park Service was directed to audit and remove signs, books, films, and exhibits across the country. The policy targeted specific topics, including conflicts with Native Americans, the history of slavery, Japanese American internment camps, and climate change.
Brazil is still affected by Inflation Psychology? Because Trump put a 50% Tariff on Brazil? Yes, the U.S. imposed a 50% tariff rate on many imports from Brazil in mid-2025, though the structure included specific layers and exemptions: • The 50% Rate Breakdown: In July 2025, President Donald Trump announced and signed Executive Order 14323, which combined a pre-existing 10% reciprocal tariff with a new 40% tariff under the International Emergency Economic Powers Act (IEEPA), resulting in a 50% total tariff on designated Brazilian goods. • Reasoning: The U.S. administration cited national security and foreign policy concerns, specifically protesting the prosecution of former Brazilian President Jair Bolsonaro and actions by the Brazilian Supreme Court. • Key Exemptions: Major sectors—including civil aircraft, energy products, pig iron, wood pulp, fertilizers, and certain metal ores—were carved out or later adjusted, which brought the effective rate down for many trade flows. • Subsequent Changes: Following legal rulings and shifting trade negotiations, the overall tariff structure on Brazilian goods evolved into lower or alternative multi-layered duties (such as 37.5% stacked rates introduced in mid-2026). The U.S. imposes a 25% Section 301 tariff on targeted imports from Brazil, effective July 22, 2026, following a trade investigation by the Office of the U.S. Trade Representative (USTR). Current Tariffs and Structure • Section 301 Rate: A 25% duty applies to specific Brazilian goods—including furniture, ethanol, machinery, footwear, and sugar—affecting about 18% (roughly $7 billion) of Brazilian exports to the U.S.. • Exemptions: Many major U.S. imports from Brazil remain exempt from the 25% tariff to avoid driving up domestic consumer costs. Exempt items include: • Beef and coffee • Crude oil and energy products • Orange juice • Aircraft and civil aviation • Pig iron, steel scrap, rare earths, and organic honey • Other Duties: Goods already covered by separate provisions (such as Section 232 steel and aluminum duties) follow their own specific schedules Liberation theologies were first being discussed in the Latin American context, especially within Catholicism in the 1960s after the Second Vatican Council. There, it became the political praxis of theologians such as Frei Betto, Gustavo Gutiérrez, Leonardo Boff, and Jesuits Juan Luis Segundo and Jon Sobrino, who popularized the phrase "preferential option for the poor" Theologies of liberation have also developed in other parts of the world such as black theology in the United States and South Africa, Palestinian liberation theology, Dalit theology in India, Minjung theology in South Korea, as well as liberation theology in Ireland. In South Africa, the movement's principles resonated with Christian opposition to apartheid, providing a theological framework for resistance against racial oppression. BRICS includes 11 full member countries and 10 partner countries. Full Member Countries • Brazil — Original founding member. • Russia — Original founding member. • India — Original founding member. • China — Original founding member. • South Africa — Joined the original group in 2011. • Egypt — Became a full member in January 2024. • Ethiopia — Became a full member in January 2024. • Iran — Became a full member in January 2024. • Saudi Arabia — Listed as a member following 2024 expansion invitations, with participation described as an invited country. • United Arab Emirates — Became a full member in January 2024. • Indonesia — Joined as a full member in January 2025. Partner Countries Introduced as a separate tier that allows participation in summits without formal full-voting membership, the bloc added 10 partner countries in 2025 (including Vietnam in June 2025): Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam.
Trump and the West lost and BRICS won.
😂 Good for you Brazil! You have proven that Trump and his donors are getting exactly what they deserve as we will be showing them in eight days!..💙🫂🌊
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