I'll pull today's top business and market headlines for you.
Today's Top Business / Market Headlines — Wednesday, October 7, 2026:
US Markets - Record highs:
•Australian shares set for a flat start after Wall Street posted its first record close since August, as investors bet corporate profits can withstand elevated energy costs and interest rates
•S&P 500 rose 0.6% to 7818.93 after setting an intraday record of 7844.52, Nasdaq Composite added 0.5% to 27,599.79 after intraday high of 27,722.75, and Dow gained 0.5%
•Earnings expectations doing work, with Bloomberg Intelligence data shows analysts expect S&P 500 profits to rise roughly 25% from a year earlier
•US 10-year Treasury yield eased two basis points to 5.28%, coming off its highest level since 2002
AI / Tech leading rally:
•Nvidia has reached a new all-time high, with its market capitalization approaching $6 trillion
•AI stocks also helped. Nvidia’s market value moved towards $US6 trillion, and AMD chief executive Lisa Su forecast very high chip demand over the next few years
•OpenAI Deal Raises Stakes For AMD's Race Against Nvidia overnight headline
•Asian markets printed new record highs, primarily driven by technology stocks and the election of Japan's first female prime minister
•The MSCI Asia Pacific Index rose, setting another record, with chipmakers and tech companies leading the gains following Advanced Micro Devices Inc.'s landmark agreement with OpenAI
Commodities / FX:
•Gold Nears $4,000 On US Shutdown Fears, French Political Crisis - overnight headline
•Gold prices also saw an increase, reaching record levels with futures touching $4000 as investors sought refuge amid rising political tensions in the US and Europe
•Gold gained 0.7% to $US4166.54 an ounce, iron ore eased 0.4% to $US91.40 a tonne and Bitcoin dipped 0.2% to $US85,612
•Oil recovered from an early slide that briefly took Brent below $US100 a barrel and finished up 0.7% at $US101.02
•Bloomberg reported that Asian equities declined amid concern that valuations in some technology companies have become stretched
•Bloomberg reported that oil held the biggest decline in a week on cautious optimism about easing tensions in the Middle East
Corporate / Deals:
•Paramount Skydance completed its $US110 billion acquisition of Warner Bros. Discovery after a contested battle with Netflix
•Alphabet agreed to buy nuclear power from Constellation Energy in a deal that will add 890 megawatts of new reactor capacity
•OpenAI is reportedly in talks with UAE investment funds, including Abu Dhabi's MGX, to anchor a $US30 billion funding round
•Uber to Buy Catering Platform EzCater for 2.3 Billion in Cash
•Qualtrics To Acquire Press Ganey Forsta In $6.75B Deal overnight headline
•AstraZeneca signs $555 million AI deal to identify immunology targets
Policy / Geopolitics impacting markets:
•Pentagon has concluded that Alibaba Group Holding, Baidu Inc and BYD Co should be added to a list of companies that aid the Chinese military, Bloomberg News reported, Deputy Defense Secretary Stephen Feinberg informed lawmakers of the conclusion in a letter on October 7
•Citadel's Griffin Calls Gold Rush 'Concerning' Signal overnight headline
•Ford Supplier Fire Expected To Disrupt Business For Months overnight headline
International / India front:
•Bandhan Bank, Birlasoft, GNFC, Granules India, Hindustan Copper, Manappuram Finance, and RBL Bank are the seven stocks on the NSE's F&O ban list on October 7. The NSE said the derivative contracts in these securities crossed 95% of the market-wide position limit
•Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a tepid note on Tuesday, tracking mixed cues from global markets