On today's show, stocks in Asia gain on tech optimism, with TSMC earnings in focus. The world's biggest contract chipmaker reported third quarter net income that was more than 10% better than expected, while gross margin of 59.5% was well above estimates. Confidence in demand for AI outweighed renewed tensions between the US and China. President Trump said the two countries are indeed engaged in a trade war, though Treasury Secretary Scott Bessent says an extension to the 90-day tariff pause is possible.

Today's guests: Karl Havard, Nscale, Chief Commercial Officer u0026 Arsalan Tavakoli-Shiraji, Databricks, Co-Founder u0026 SVP, Field Engineering.

Correct: An on screen graphic incorrectly stated that Australian unemployment is the highest since 2011. It is the highest since 2021, as referenced verbally by the reporter.

Chapters:
00:00:00 – Daybreak Europe
00:03:29 – Asian Stocks Gain After Choppy Day on Wall Street
00:06:12 – Trump Declares Trade War With China
00:07:18 – Bessent Floats Longer-Term China Truce After Rare Earths Gambit
00:09:28 – Rare Earth Minerals In Focus Amid US-China Trade Talks
00:11:20 – Traders Ramp Up Bets on Half-Point Fed Rate Cut by Year-End
00:15:42 – IFS: Reeves Needs £50B Billion Buffer to End UK Tax Hikes
00:18:14 – Trump: Modi Has Committed to Stop Russian Oil Purchases
00:18:44 – Trump Confirms Report He Authorized CIA Action in Venezuela
00:19:08 – Canada Threatens to Sue Stellantis Over US Jeep Work Move
00:19:58 – Wall Street Banks Notch $15B 31 Trading Haul
00:20:27 – Dimon Cockroach Barb Bursts Uneasy Truce With Private Credit
00:21:24 – JPMorgan’s Rohrbaugh Says It’s ‘A Lot More’ Cautious on Credit
00:22:49 – Griffin Says GenAI Fails to Help Hedge Funds Beat Markets
00:23:11 – Major Breach of Cyber Firm Blamed on China
00:24:51 – TSMC 3Q Earnings Update
00:26:08 – Pernod Ricard Earnings Update
00:28:09 – Karl Havard, Nscale COO
00:32:49 – Arsalan Tavakoli-Shiraji, Databricks Co-Founder u0026 Field Engineering SVP
00:41:04 – TSMC Raises Sales Outlook to Convey Confidence in Global AI Boom
——–
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