top stories of 21 October

every morning: the most covered market stories of the past day. by email, on telegram and here.

1. Oil edges higher on Middle East supply concerns

   According to Reuters, Brent and WTI rose about 0.8% on Wednesday as attacks on tankers in the Strait of Hormuz and threats to Saudi oil sites weighed on sentiment.

   Futures — 2 sources

2. Crude Prices Climb as Ships Are Hit in the Strait of Hormuz

   Oil prices rose in early Asian trade as Market Talk reported attacks on at least 18 vessels in the Strait of Hormuz, with Brent near $109.54 a barrel.

   Futures — 1 source

3. Australia's Inflation Outlook Worse Than Expected, RBA Deputy Says

   RBA deputy governor Andrew Hauser says the inflation outlook is materially worse and third-quarter data will likely confirm it. Source: Dow Jones Newswires.

   Economy · Labor · Monetary Policy · Inflation — 1 source

4. Oil Settles Lower After Volatile Session as Brent Holds Near $109

   Oil futures closed down in a choppy session, with Brent falling 0.7% to $108.79, according to Dow Jones Newswires reporting on US-Iran diplomacy and Middle East risks.

   Futures — 1 source

5. UK Wage Growth Picks Up and Jobless Rate Falls Before BoE Meeting

   UK weekly earnings growth rose to 3.7% and unemployment fell to 4.7%, raising odds of a Bank of England rate hike next month.

   Economy · Labor · Inflation — 1 source

6. Bitcoin Slips as Middle East Conflict Lifts Oil and Risk Concerns

   Bitcoin fell 0.2% to $81,776 as oil prices rose on escalating Middle East conflict, according to Market Talk citing LSEG data and analyst comments.

   Crypto — 1 source

7. Salesforce agrees to buy customer engagement firm Braze for $5.66 billion

   Salesforce will acquire Braze for about $5.66 billion, Reuters reports. Braze shares fell 2.6% in premarket trading after the announcement.

   Merger · Acquisition · Stock · United States — 3 sources

8. Tesla may merge with SpaceX as Musk calls the idea a good one

   Elon Musk said a merger of Tesla and SpaceX would be a good idea and confirmed that special committees have been formed. Reuters reports Starlink operator shares rose 8% in extended trading.

   Stock · United States — 2 sources

9. SpaceX reports $4.4 billion profit and weighs merger with Tesla

   In its second earnings report as a public company, SpaceX posted $14.6 billion in quarterly revenue. Elon Musk said a Tesla merger is under consideration but not certain.

   Earnings · Stock · United States — 2 sources

10. Musk Says Tesla and SpaceX Committees Are Weighing a Merger

    Elon Musk said special committees at Tesla and SpaceX are discussing a possible combination, though no deal is guaranteed. Shares rose after hours.

    Stock · United States · Merger · Acquisition — 2 sources

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