GAR Capital

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Veterans Day next week. Appreciation to all who have served 🫡

NYMEX December WTI crude futures settled at $90.52 a barrel, up $2.40, or 2.72%. December natural gas settled at $2.9470/MMBtu, diesel at $4.3519 a gallon, and gasoline at $2.7634 a gallon.

Google said it is building its first data center in Wyoming, representing a $17 billion investment. $GOOGL was last at $283.87, down 1.77% from the previous close.

BoE Gov. Bailey said inflation risks are to the upside and future decisions depend on how quickly inflation falls. He said the BoE is watching inflation pass-through, peace moves would bring limited relief, and inflation is baked in due to the energy price cap.

U.S. initial jobless claims fell 6,000 to 189,000 in the week ended Oct. 31, below reported estimates of 196,000 and 197,000. Continuing claims rose 23,000 to 1.718 million in the week ended Oct. 24, above the reported estimate of 1.710 million.

Hertz ($HTZ) reported Q3 2026 revenue of $2.62 billion, up 6% year over year. GAAP EPS was $0.20, compared with $0.42 a year earlier, and adjusted EPS was $0.14. Shares last traded at $2.26, up 9.44% from the previous close.

Novavax reported Q3 2026 revenue of $68M, down 3% year over year, and product sales of $26M, up 91%. It also reported a $125M Sanofi milestone, raised guidance and narrower losses. $NVAX was last at $10.65, up 10.02% vs. the previous close.

Axios reported that Meta bought AI startup Conductor. $META was last at $636.87, up 2.57% from the previous close, according to Alpaca IEX.

The Panama Canal head said the canal is starting to plan a third terminal to expand capacity. Maersk and MSC could participate in bidding. He also said it is in the global interest for the canal to remain a neutral waterway.

The U.S. Treasury says it is imposing sanctions on four India-based individuals and nine companies for supporting Iran’s shadow fleet. It is also designating Turkey-based Fugo Ground Services for supporting Iran’s aviation sector.

Joby Aviation said the US Air Force has expanded its contracts with the company to nearly $37 million. $JOBY was last at $5.17, up 6.49% from the previous close.

The U.S. Treasury said it is imposing sanctions on four India-based individuals and nine companies for supporting Iran's shadow fleet.

Helen of Troy’s board unanimously rejected an unsolicited $37-per-share cash offer from Spectrum Brands and Oaktree, saying it substantially undervalues the company. $HELE last traded at $37.20, up 25.74% from the previous close.

Brent crude fell 10% to near $93 a barrel, its lowest level in two months.

The Dow Jones hit a two-month high and was last up 2.95%.

U.S. crude futures fell more than $5 a barrel to near $90. Brent crude futures fell more than $7 a barrel.

European gas prices fell as much as 5.3% to €86.74/MWh.

The UK 10-year gilt yield fell 12 basis points to 5.143%, its lowest level since September 4.

The Swiss Federal Council adopted the EU’s 21st Russia sanctions package.

U.S. and Brent crude futures fell by more than $4 a barrel.