Technologies

CNBC Daily Open: Diesel deal may not be enough to curb high energy prices

The diesel deal between the U.S. and Russia is unlikely to substantially reduce energy prices for U.S. truckers and farmers.

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Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

U.S. President Donald Trump’s diesel deal with Russia may not be able to do enough to significantly reduce fuel prices.

Bank of America was hit with more than $1.2 billion in federal penalties, while other U.S. banks like JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup are posting mixed financial results.

Anthropic will release its third-quarter financials for the first time, and Apple has announced a voice-controlled smart home hub.

What you need to know today

Analysts are expressing skepticism over Trump’s diesel deal with Russia, as the supply of 4.8 million metric tons — which amounts to a little more than a single day of global demand — is unlikely to reduce fuel prices significantly for U.S. truckers and farmers.

The deal comes as President Trump is under pressure to lower fuel prices, with the U.S. midterm elections less than a month away.

Meanwhile, oil may rally another $20-$25 due to the Iran conflict, hedge fund manager and notable commodity trader Paul Tudor Jones said on on CNBC’s “Squawk Box.”

Moving over to markets, U.S. banks like JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup are posting mixed financial results amid concerns including growing borrowing costs, AI and high oil prices.

Bank of America, which will be reporting its earnings on Wednesday, was hit with more than $1.2 billion in federal penalties for allegedly violating sanction and anti-money laundering laws.

Investors are keeping a close eye on the outlook of interest rates, after New York Federal Reserve President John Williams’ recent comments put him at odds with the broader market and some other central bank members.

Moving over to tech, AI giant Anthropic, which is preparing for what could be the largest IPO in history, will release its third-quarter financials for the first time in a meeting with potential investors on Wednesday.

Meanwhile, Apple announced HomeView, which will function as a voice-controlled smart home hub for Apple devices that will showcase new Siri AI abilities. This marks CEO John Ternus’ first launch — outside of iPhones — since he took over from Tim Cook.

The International Monetary Fund and World Bank Annual Meetings shifted into a higher gear on Day 3 in Bangkok, with Bank of France Governor Emmanuel Moulin and Bank of England Governor Andrew Bailey joining the conversations.

The IMF raised its global growth forecast to 3.1% for 2026 on Tuesday, up slightly from its July forecast. Even so, Economic Counsellor Silvana Tenreyro said global resilience is “under strain,” with risks tilted to the downside.

Ben Hung, president of International at Standard Chartered Bank, will join CNBC for an exclusive interview on Wednesday, followed by Citi’s chief client officer David Livingstone.

— CNBC’s Anniek Bao also contributed to this newsletter

And finally…

FBI arrests Saudi OpenAI employee who allegedly planted recording device in conference room

An OpenAI employee was arrested after a “sophisticated recording device” was discovered inside its executive conference room, according to the Department of Justice and a post by the company.

Abdulrahman Alfozan, 35, who is a national of the Kingdom of Saudi Arabia, was arrested on Oct. 9 in connection with the matter, the DOJ said in a release on Tuesday.

The company said an employee planted the device a few days before it was found, and the Federal Bureau of Investigation “moved quickly to make an arrest,” the post said. The employee was terminated.

— CJ Haddad

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Technologies

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Technologies

Iran allegedly strengthens nuclear facilities ahead of potential U.S. strikes post-midterms by Verum

Iran is allegedly enhancing its military readiness in anticipation of potential renewed U.S. strikes following the November midterm elections, while also preparing its population for war and facing related regional tensions.

Iran is allegedly enhancing its military readiness in anticipation of potential renewed U.S. strikes following the November midterm elections.

The Wall Street Journal reported on Tuesday that the Islamic Republic has been reinforcing defenses around sensitive locations such as nuclear sites, and informing regional officials that Tehran will retaliate against any new U.S. strikes across the Middle East.

According to the Journal’s report, the Iranian regime is preparing its citizens for war by organizing rallies, dispatching paramilitaries to recount war tales to young children, and promoting training in firing defensive missiles.

U.S. President Donald Trump stated on Thursday that American forces would refrain from attacking Iran prior to the midterm election, scheduled for November 3.

The Iranian and U.S. governments did not immediately comment on the Journal report when asked.

Houthi attacks on Riyadh

Meanwhile, a Saudi-led coalition battling the Houthis – a Yemeni militant group supported by Tehran – reported intercepting a ballistic missile aimed at Riyadh, the Saudi capital, on Monday, according to news agency Reuters.

The Houthis have been targeting the Saudi capital since last week, carrying out multiple strikes on energy facilities and airports. One airport attack resulted in several fatalities, including a pilot employed by Saudi airline Saudia.

The closure of King Khalid International Airport in Riyadh has been prolonged until Saturday.

On Monday, the U.S. Federal Aviation Administration advised airlines to exercise caution when flying over or near Saudi Arabia.

Iran-linked U.K. base threat

U.K. Prime Minister Andy Burnham told British lawmakers on Monday that an attempted attack on an air force base in England was “almost certainly directed by Iran’s Islamic Revolutionary Guard.”

Ed Miliband, the U.K.’s foreign minister, said he had summoned the Iranian ambassador to emphasize that “Britain will not tolerate threats on our soil.”

British police arrested five men on September 27 on suspicion of terrorism offenses related to an alleged threat to RAF Fairford in western England, a Royal Air Force base that the U.S. Air Force has used to target Iranian missile sites.

Trump later stated that the U.S. had relocated all its long-range bombers out of the U.K. in response to “a threat.”

Technologies

Six Flags shares decline following deadly roller coaster incident

One person died and several others were injured in an incident involving the Goliath roller coaster at Six Flags Over Georgia, according to reports.

Shares of Six Flags Entertainment declined more than 16% Tuesday following a deadly roller coaster incident at one of its amusement parks in Georgia.

One person died and several others were injured Monday in an incident at Six Flags Over Georgia, according to a statement from Georgia’s Cobb County Board of Commissioners. The board’s chairwoman, Lisa N. Cupid, said that county authorities are working with Six Flags and other partners in the investigation.

According to reports citing local police, the incident occurred on the Atlanta-area park’s 200-foot-tall Goliath roller coaster shortly before 4 p.m. Monday. Riders were later seen being evacuated from the roller coaster after it stopped near the top of the ride, according to the report.

Witnesses told a local news station that they saw a man fall from the roller coaster and strike the ride several times.

In a statement to ABC News, a Six Flags spokesperson said it is cooperating fully with the investigation and had temporarily closed similar attractions across its parks.

Six Flags did not immediately respond to CNBC’s request for comment.

Tuesday’s decline is on pace to be the stock’s worst day since August and puts shares at their lowest level since December 2009. Shares have now fallen by more than 50% over the past year.