Harris and Trump make final pitches to undecided voters

Good morning and welcome again to the beginning of the working week. In as we speak’s information:

• Wall Road’s ‘neocloud’ AI wager

• Buffett slashes Apple stake

• China pressures wealthy to cough up taxes

We begin with a glance again at a frantic weekend of campaigning that noticed the 2 candidates current contrasting closing messages to undecided voters with lower than a day to go earlier than in-person voting begins.

Donald Trump lashed out at critics, calling Democrats “demonic” as he repeated unfounded claims of election fraud and took a swipe on the mainstream media as he complained concerning the want for bulletproof glass at his rallies in Pennsylvania earlier than travelling on to North Carolina and Georgia.

“[America is] a crooked nation, and we’re going to make it straight,” he mentioned.

That contrasted with Kamala Harris, who made a extra upbeat pitch to supporters in Michigan as she promised to faucet into the “ambition, the aspirations and the goals” of the American individuals.

The race for the White Home is tied with lower than 24 hours to go earlier than polls open.

However the Harris marketing campaign was lifted over the weekend by the results of a Des Moines Register survey, printed on Saturday, which confirmed the vice-president had a transparent lead within the Republican state of Iowa.

One other ballot for the New York Occasions, printed yesterday, nevertheless, confirmed Harris trailing in Arizona and tied in Pennsylvania and Michigan. The Financial Times’ poll tracker exhibits Harris holding a 1.3 proportion level lead nationally.

Closing rallies as we speak will see Trump goal North Carolina, Pennsylvania and Michigan earlier than he returns to Florida to vote and await the outcomes. Harris plans to spend the day campaigning in Pennsylvania earlier than heading on to Pittsburgh and Philadelphia.

Right here’s extra of our protection of what has develop into the closest election for a era:

• Election night time: Right here is a guide on what to anticipate tomorrow night time because the outcomes start to be declared.

• The greenback: A basket of main currencies is on target for its greatest one-day achieve in opposition to the greenback since September as polls narrow.

• The ultimate days of the Trump marketing campaign: It’s exceptional {that a} second time period for the previous president is in attain given the best way he has performed his marketing campaign — an even darker version of his 2016 and 2020 races. 

• The day after the election: A legal and information war waged by Trump’s staff to cease a Harris victory from being licensed might drag out the method for days and even weeks.

• Rana Foroohar: Whoever wins, America will nonetheless want to turn itself round.

• Ruchir Sharma: The US financial increase is lopsided and it explains why so many Individuals will cast a vote in anger.

Be sure to’re signed up for our US election publication to get updates tomorrow. Right here’s what else I’m protecting tabs on as we speak:

• Firms: The New York Occasions and Fox Corp publish outcomes. Canadian life insurer Solar Life and medical tools maker Revvity additionally launch earnings.

• Canada: Ottawa will unveil the main points of its long-awaited plan to cap emissions of greenhouse gases from the oil and fuel sector.

Specialists led by Monetary Occasions editor Roula Khalaf will talk about their predictions for the world in 2025 in a digital occasion on December 11. Register today.

5 extra high tales

1. Unique: Wall Road’s largest monetary establishments have loaned greater than $11bn to a distinct segment group of tech firms primarily based on their possession of the world’s hottest commodity: Nvidia’s synthetic intelligence chips. Blackstone, Pimco, Carlyle and BlackRock are amongst people who have created a profitable new debt market over the previous yr by lending to so-called neocloud companies.

2. The Federal Reserve is poised to decrease its benchmark coverage fee by a quarter-point later this week. The Federal Open Market Committee will announce its decision on Thursday, probably earlier than the outcomes of the presidential election are identified. One blemish on an in any other case strong set of financial information going into the assembly was Friday’s job report.

3. Saudi Arabia and different members of Opec+ have delayed a plan to start elevating oil manufacturing till the top of the yr. The world’s largest oil exporter and 7 others, together with Russia, Iraq, the UAE and Algeria, will go away all output cuts in place till the top of December, Opec said in a statement, serving to raise worldwide oil costs as we speak.

4. Chinese language authorities are demanding firms and the rich double-check their taxes for unpaid liabilities as native governments hunt for income to refill coffers depleted by a property droop. The transfer threatens to additional dent investor confidence forward of this week’s anticipated fiscal stimulus. Here’s more on the tax “self-inspections”.

5. A Chinese language-built megaport in Peru could possibly be utilized by Beijing’s navy, a high US basic has mentioned, highlighting the safety dangers to the US from “Belt and Street” initiatives in Latin America. Chinese language President Xi Jinping is anticipated to inaugurate the $1.3bn Chancay port on the Pacific coast when he visits Peru for a summit in mid-November. Learn the full interview with Basic Laura Richardson, outgoing chief of US Southern Command.

Right this moment’s huge learn

Citadel Securities is on the forefront of a brand new breed of buying and selling companies which have eaten away on the conventional dominance of huge banks. In simply 20 years it has develop into the most important purchaser and vendor of shares within the US. The most recent a part of our New Titans of Wall Road collection chronicles the rise of Ken Griffin’s firm.

We’re additionally studying . . . 

Chart of the day

Warren Buffett has continued to slash his stake in Apple as a part of a promoting spree that has seen his Berkshire Hathaway dump $166bn value of shares over the previous two years. Over the weekend, the conglomerate disclosed it had lowered its place within the iPhone maker to $69.9bn within the third quarter, indicating it had shed an additional 100mn shares.

Take a break from the information

A brand new era of “reset retreats” are utilizing information to analyse sleep high quality, bodily health and different key indicators to assist busy executives handle stress and burnout.