Trump: If the Federal Reserve cuts interest rates, we can achieve a balanced budget.

Meta Platforms is issuing dollar-denominated bonds for the first time in six months as part of its financing plan, with the tech giant targeting to raise at least $20 billion in debt across U.S. and European markets. Amid investor skepticism over its artificial intelligence (AI) infrastructure spending, Meta is tapping debt to fund related investments. According to a person familiar with the matter, the bond offering is split into five tranches, with maturities ranging from 5 to 30 years. The source added that preliminary pricing guidance for the longest-dated bonds is around 2.5 percentage points above U.S. Treasury yields. Meta’s last entry into the high-grade bond market came in April this year, when it raised $25 billion via a bond sale, with investor demand peaking at $96 billion. However, market enthusiasm for AI-linked bonds has cooled since then, with investors demanding larger yield premiums from issuers to compensate for the risks they bear. The bond offering is underwritten by Citigroup and Morgan Stanley.

Key pre-market news for US stocks on Tuesday is as follows: 1. Historical performance of US equities after US midterm elections: All 11 post-election cycles have delivered gains, with split governments being favored by markets. 2. Credit default protection costs for the five major cloud providers have hit their highest level since 2021, as AI investors rush to secure downside protection. 3. Hedge fund giant Elliott Investment Management has warned that all bear market alarms are sounding, noting the current market is highly similar to the period before the Great Depression. 4. Anthropic’s IPO is facing downward pricing pressure from investors, with its valuation expected to drop to $1.5 trillion, alongside nearly $900 billion in computing power commitments. 5. Marvell and Lumentum have officially announced an all-stock acquisition agreement, with the deal implying an enterprise value of approximately $115 billion. 6. US spot Bitcoin ETFs recorded a net outflow of $398.6 million yesterday, while Ethereum ETFs saw a net outflow of $139.7 million.

U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig released a statement today announcing that single-stock perpetual futures contracts have been granted approval for the first time to start trading on eligible designated contract markets (DCMs). These DCMs are also registered with the U.S. Securities and Exchange Commission (SEC) as notice-registered national securities trading platforms and are permitted to trade securities futures products.

According to Bitget market data, Brent crude oil fell 3.00% intraday, currently trading at $100.43 per barrel. Earlier, Trump announced the suspension of $4 billion in aid to Israel.

Nov 3 Update: #Bitcoin ETFs: 1D NetFlow: -5,942 $BTC(-$458.98M)?? 7D NetFlow: -9,593 $BTC(-$740.99M)?? #Ethereum ETFs: 1D NetFlow: -86,589 $ETH(-$197.12M)?? 7D NetFlow: -195,872 $ETH(-$445.91M)??

According to Al Jazeera, a source close to the mediation team has revealed that mediators have briefed Saudi Arabia and the United Arab Emirates (UAE) on the terms of the memorandum of understanding (MoU), with both countries expressing their approval. Washington and Tehran have made concessions on nuclear issues and frozen assets.