Lula on the brink

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. Flávio Bolsonaro pushes Luiz Inácio Lula da Silva to the brink of defeat ahead of Brazil’s runoff. It’s been quite a year for tech billionaires, but not so much for Digger at this weekend’s box office. Listen to the day’s top stories. — Marc Perrier Market Snapshot S&P 500 Futures 7,762.50 -0.2% Nasdaq 100 Futures 30,989.50 -0.2% Bloomberg Dollar Spot Index 1,224.16 +0.2% Market data as of 06:40 AM ET. Data is subject to provider delays. Your watchlist Flávio Bolsonaro surged to a surprise lead over Luiz Inácio Lula da Silva in the first round of Brazil’s presidential election, making him the favorite for the Oct. 25 runoff and putting Latin America’s biggest economy on course for a sharp turn to the right. Brazilian assets are set to jump, with Bolsonaro seen as more market-friendly than the left-wing incumbent Lula. The result also matters as Donald Trump attempts to exert US dominance over the Western Hemisphere, with Lula resisting Washington and Bolsonaro favoring closer ties. Republicans Risk First Senate Loss in 94 Years in Reliably Red Kansas Read more Europe’s political and fiscal strains are dominating markets this morning. The euro fell to its weakest since May 2025 as concerns intensified, with fresh turmoil in Spain adding to the jitters. Prime Minister Pedro Sánchez called an early election for Nov. 29 after parliament rejected housing measures aimed at easing a crisis that has fueled protests. Yemen’s internationally recognized government launched a full-scale military campaign to recapture Houthi-held territory after weeks of escalating conflict between the Iran-backed group and Saudi Arabia. Meanwhile, the Pentagon removed bombers from the UK base at the center of last week’s suspected attempted terrorist attack, following new threats of Iran-backed plots, the NYT reported. An OpenAI employee focused on AI safety quit the company and warned that top firms aren’t doing enough to mitigate the risks. An ex-Anthropic researcher who raised similar concerns is set to testify at a NYC Council hearing today alongside the top AI companies. More details have emerged about the FlyDubai co-pilot who assaulted the captain on a Tel Aviv-bound flight. Hamam al-Hammami, 29, previously flew for Oman Air, where he was dismissed over what were considered radical views, people familiar said. He also studied engineering at RMIT University in Melbourne but failed to complete a qualification. Limited-time offer: 60% off unlimited access Summer's over, but the markets didn't take a break. Stay ahead with trusted business news, markets data and expert analysis. Get your first year for just $399 $149. Offer expires October 22, 2026 11:59 PM EST. Claim 60% off Deep Dive: What a Year The AI boom has driven tech billionaires to their very best year in 2026, and the numbers bear it out. The roughly 100 tech fortunes among the world’s 500 richest people gained $845 billion through September, according to the Bloomberg Billionaires Index, which tracks the world’s biggest fortunes. AI and soaring tech stocks fueled the surge. Tech billionaires are now worth $4.6 trillion, or 36% of the index’s wealth, despite making up only about a fifth of its members. The divide is stark: Billionaires outside tech lost $62 billion, while Americans accounted for 94% of net gains. The world’s 10 richest people are all American, a first since Bloomberg began tracking fortunes in 2012. Elon Musk alone added $310 billion through September, accounting for roughly 40% of the index’s total increase. The Big Take The exodus of the uber-rich from the UK has become a $160 billion problem, with individuals tracked in the Bloomberg Billionaires Index loosening their ties with the UK or cutting them entirely in the past two years. Big Take Podcast Romantasy Fuels Billion-Dollar Business Opinion Javier Blas just bought an electric vehicle, ending his relationship with gasoline, he writes. But like almost everyone else, he’ll remain hooked on oil, probably for the rest of his life. More Opinions Parmy Olson The Web Isn’t Ready for Millions of Rule-Bending Bots John Authers Tech Can’t Shield Stocks From Bonds Forever Test Your Knowledge Today's clue is: He asked the right questions — now he has all the answers Alphadots|Bloomberg Games Play Before You Go Tom Cruise in Digger. Source: Warner Bros. Digger dug a hole at the box office, taking in just $8 million in its opening weekend. Warner Bros. Discovery’s final release before its acquisition by Paramount Skydance adds to a string of flops that have cost the studio hundreds of millions. A Couple More As Thailand Cracks Down on Foreigners, a Tourist Paradise Reconsiders Its Welcome Germans, American Share Nobel Medicine Prize for Brain Research More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too: Money for insights, ideas and tools for doing more with your money AI Today chronicles the disruptions and threats of AI Market Moves delivers the pulse of the market to your inbox Markets Daily has what’s moving in stocks, bonds, FX and commodities Opinion Today for an afternoon roundup of our most vital opinions Explore all newsletters at Bloomberg.com. We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. 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