What are today's top business/market headlines?

The top business and financial market headlines for today, Monday, November 2, 2026, center around a high-stakes week of technology earnings, macroeconomic policy shifts, and key corporate developments:

1. Markets Brace for Mega-Cap Tech Earnings & AI Capex Scrutiny

Wall Street is gearing up for one of the most critical weeks of the third-quarter earnings season, with a heavy emphasis on whether massive artificial intelligence capital expenditures are starting to translate into proportional returns.

2. Asian Stocks Slide Ahead of Tech Releases

While U.S. futures show a modest rebound, major Asian indexes slipped on Monday as investors hesitated ahead of the tech earnings avalanche. Japan’s Nikkei fell 0.5%, and South Korea’s Kospi dropped 0.8%, extending sharp double-digit losses from October. Concerns over the timing of AI financial returns have triggered defensive positioning, while gold touched a one-year low amid reports of investors liquidating assets to meet margin calls.

3. Federal Reserve Rate Hike Expectations Shift to December

Following the Federal Reserve's decision to hold benchmark interest rates steady at 3.75% to 4.00% in October, market strategists are increasingly forecasting a quarter-point rate hike at the final FOMC gathering in December. With energy prices remaining elevated due to ongoing geopolitical tensions in the Middle East and Ukraine, and inflation hovering above the Fed’s comfort zone, Chair Kevin Warsh and other policymakers are indicating that further tightening may be necessary to fully cool the economy.

4. UK Parliamentary Report Slams Government’s China Trade Policy

In the UK, Parliament’s Business and Trade (BIST) Committee released its first official report on doing business with China today. The report sharply criticizes successive UK governments for failing to deliver a consistent, predictable, long-term economic strategy regarding Beijing. The committee warned that "reactivity, inconsistency, and opacity"—such as the last-minute block of a £1.5 billion wind turbine factory investment—are severely damaging the ability of British firms to make strategic commercial decisions.

5. Media & Legal: Judge Dismisses Trump’s $10B Lawsuit Against Wall Street Journal

In major corporate media news, a federal judge in Miami has dismissed Donald Trump’s $10 billion defamation lawsuit against The Wall Street Journal and Rupert Murdoch. The lawsuit, which alleged defamatory reporting regarding the former president's historical ties to Jeffrey Epstein, was thrown out "with prejudice," meaning it cannot be refiled. U.S. District Judge Darrin Gayles ruled that the lawsuit was "grasping at straws" and failed to prove actual malice on the part of the newspaper's investigative reporters.

6. Corporate Spotlight: Once Upon a Farm (OFRM) Hosts Emergency Update

After the market close on Friday, October 30, kid-focused organic food brand Once Upon a Farm issued a voluntary product recall and reformulation of its "Tractor Wheels" snack due to a potential choking hazard. CEO John Foraker is hosting a live business update and webcast call this morning at 8:30 a.m. ET to address the recall's financial and logistical impact.