Blog

  • Oil prices little changed as markets eye U.S.-China trade talks

    Oil prices little changed as markets eye U.S.-China trade talks

    Oil prices held on to most gains from the previous session in early trading on Thursday as investors awaited U.S.-China trade talks later in the day.

    Anton Petrus | Moment | Getty Images

    Oil prices held on to most gains from the previous session in early trading on Thursday as investors awaited U.S.-China trade talks later in the day, hoping for signs that tensions clouding the economic growth outlook will ease.

    Brent crude futures fell 3 cents, or 0.05%, to $64.89 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude futures fell 11 cents, or 0.18%, to $60.37.

    U.S. President Donald Trump and Chinese President Xi Jinping will meet on Thursday in Busan, South Korea, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. Markets hope they will agree to dial down trade tensions that have hurt the outlook for global growth and fuel demand.

    Trump said on Wednesday he expects to reduce U.S. tariffs on Chinese goods in exchange for Beijing’s commitment to curb the flow of precursor chemicals to make the drug fentanyl.

    Also boosting the economic outlook, the U.S. Federal Reserve lowered interest rates on Wednesday, in line with market expectations. However, it signaled that might be the last cut of the year as the ongoing government shutdown threatens data availability.

    “The Fed’s decision underscores a broader turn in its policy cycle – one that favors gradual reflation and support over restraint, providing a tailwind to commodities sensitive to economic activity,” Rystad Energy’s chief economist Claudio Galimberti said in a note.

    Brent and WTI rose 52 cents and 33 cents, respectively, in the previous session on optimism about the trade talks and a larger than expected drawdown in U.S. crude and fuel inventories.

    Crude inventories dropped by 6.86 million barrels to 416 million barrels in the week ended October 24, the EIA said, compared with analysts’ expectations in a Reuters poll for a 211,000-barrel fall.

    Continue Reading

  • Dollar gains as Fed cut bets recede; yen on guard

    Dollar gains as Fed cut bets recede; yen on guard

    The dollar nudged higher on Thursday as traders scaled back bets of a U.S. rate cut in December following push back from Federal Reserve Chair Jerome Powell.

    Yuji Sakai | Digital Vision | Getty Images

    The dollar nudged higher on Thursday as traders scaled back bets of a U.S. rate cut in December following push back from Federal Reserve Chair Jerome Powell, pinning the yen near an eight-month low ahead of the Bank of Japan’s (BOJ) rate decision.

    The day was shaping up to be another busy one for markets with the BOJ’s policy announcement due and a highly anticipated meeting between U.S. President Donald Trump and China’s leader Xi Jinping, where the two will seek to de-escalate their trade war.

    Investors were still reeling from the aftermath of the Fed decision in the early Asian session, after the U.S. central bank lowered rates by 25 basis points as expected and said it will end its balance sheet drawdown on December 1.

    But Powell took the punch bowl away by saying a policy divide within the central bank and a lack of federal government data may put another rate cut out of reach this year.

    That sent the dollar rising broadly, with sterling last trading at $1.3195 after falling to a 5-1/2-month low in the previous session.

    The euro was nursing losses and rose 0.03% to $1.1604, after weakening 0.43% overnight.

    “Clearly, the FOMC is divided on the policy outlook from here and with the government in shutdown still, I think Powell wants to approach policy more cautiously,” said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA).

    “We still expect a cut in December, but obviously with Powell’s cautious comments, the risk is that a rate cut is delayed to 2026.”

    The market odds of the Fed delivering another quarter-point cut in December have eased to around 68%, having been nearly fully priced before Wednesday’s decision. 

    Waiting on the BOJ

    The focus on Thursday turned to a policy decision from the BOJ. The central bank is seen keeping rates steady but is likely to reiterate its resolve to continue pushing up still-low borrowing costs.

    Ahead of the outcome, the yen was languishing near an eight-month low against a resurgent dollar and last stood at 152.59.

    It similarly held near an all-time low against the euro at 177.12.

    “I think the most interesting thing to look out for is the vote. At the last meeting, two out of nine board members were in favor of a 25-basis-point rate hike. So it will be interesting to see how many officials are calling for a hike at this meeting,” said CBA’s Kong.

    “We know that the BOJ tends to be more politically sensitive. So given the Takaichi administration has just been elected, and they are now compiling another economic package, I think the BOJ will stay cautious in the very near term.”

    Some investors are betting that the election of Sanae Takaichi as Japan’s new prime minister could complicate the BOJ rate outlook, given she is an advocate of loose monetary policy.

    Elsewhere, the Australian dollar was little changed at $0.6575, while the New Zealand dollar eased slightly to $0.5763.

    Apart from the BOJ, investors will also have their eyes on an expected meeting between Trump and Xi, as fragile trade ties between the two nations continue to keep markets on edge.

    “Given the positive remarks from both parties at the conclusion of the preliminary talks in Malaysia over the weekend, markets already expect that the ceiling for tariffs is in place as China likely backs down from its latest rare-earth controls announcement,” said Garrett Melson, a portfolio strategist at Natixis Investment Managers.

    Continue Reading

  • Can you get chickenpox twice? Or if you’re vaccinated? Experts answer 9 key questions

    Can you get chickenpox twice? Or if you’re vaccinated? Experts answer 9 key questions

    Alerts have been issued about the rising number of chickenpox cases in Northern New South Wales this year. Meanwhile, chickenpox continues to spread across Australia with 2,010 notified cases so far this year.

    Getting vaccinated can reduce…

    Continue Reading

  • ‘The Life of a Showgirl’ faces criticism while breaking records

    ‘The Life of a Showgirl’ faces criticism while breaking records

    Taylor Swift released her 12th studio album, “The Life of a Showgirl,” on Oct. 3 and returned to the top of the music charts with a brand-new aesthetic overlapping her age-old persona.

    “The Life…

    Continue Reading

  • Moon phase today explained: What the moon will look like on October 30, 2025

    Moon phase today explained: What the moon will look like on October 30, 2025

    We’ve just passed the First Quarter, meaning the moon is now on its way toward becoming full. This is part of the lunar cycle, the moon’s journey from New Moon to Full and back again, a rhythm…

    Continue Reading

  • October 29, 2025 — Blood and Guts Challenge Made, Hangman Tricks Samoa Joe, More

    October 29, 2025 — Blood and Guts Challenge Made, Hangman Tricks Samoa Joe, More

    It’s Halloween week, so that meant AEW Fright Night Dynamite from Edinburg, Texas, LIVE on TBS and HBO Max with some golden treats up for grabs!

    Samoa Joe will be challenging “Hangman” Adam Page for the AEW World Championship at AEW Full…

    Continue Reading

  • WHO reviews highlight limited long-term data on GLP-1 drug safety

    WHO reviews highlight limited long-term data on GLP-1 drug safety

    Three new Cochrane reviews find evidence that GLP-1 drugs result in clinically meaningful weight loss, but industry-funded studies raise questions. The reviews were commissioned by the World Health Organization (WHO) to inform…

    Continue Reading

  • Battery-powered appliances make it easy to switch from gas to electric | MIT News

    Battery-powered appliances make it easy to switch from gas to electric | MIT News

    As batteries have gotten cheaper and more powerful, they have enabled the electrification of everything from vehicles to lawn equipment, power tools, and scooters. But electrifying homes has been a slower process. That’s because switching from gas appliances often requires ripping out drywall, running new wires, and upgrading the electrical box.

    Now the startup Copper, founded by Sam Calisch SM ’14, PhD ’19, has developed a battery-equipped kitchen range that can plug into a standard 120-volt wall outlet. The induction range features a lithium iron phosphate battery that charges when energy is cheapest and cleanest, then delivers power when you’re ready to cook.

    “We’re making ‘going electric’ like an appliance swap instead of a construction project,” says Calisch. “If you have a gas stove today, there is almost certainly an outlet within reach because the stove has an oven light, clock, or electric igniters. That’s big if you’re in a single-family home, but in apartments it’s an existential factor. Rewiring a 100-unit apartment building is such an expensive proposition that basically no one’s doing it.”

    Copper has shipped about 1,000 of its battery-powered ranges to date, often to developers and owners of large apartment complexes. The company also has an agreement with the New York City Housing Authority for at least 10,000 units.

    Once installed, the ranges can contribute to a distributed, cleaner, and more resilient energy network. In fact, Copper recently piloted a program in California to offer cheap, clean power to the grid from its home batteries when it would otherwise need to fire up a gas-powered plant to meet spiking electricity demand.

    “After these appliances are installed, they become a grid asset,” Calisch says. “We can manage the fleet of batteries to help provide firm power and help grids deliver more clean electricity. We use that revenue, in turn, to further drive down the cost of electrification.”

    Finding a mission

    Calisch has been working on climate technologies his entire career. It all started at the clean technology incubator Otherlab that was founded by Saul Griffith SM ’01, PhD ’04.

    “That’s where I caught the bug for technology and product development for climate impact,” Calisch says. “But I realized I needed to up my game, so I went to grad school in [MIT Professor] Neil Gershenfeld’s lab, the Center for Bits and Atoms. I got to dabble in software engineering, mechanical engineering, electrical engineering, mathematical modeling, all with the lens of building and iterating quickly.”

    Calisch stayed at MIT for his PhD, where he worked on approaches in manufacturing that used fewer materials and less energy. After finishing his PhD in 2019, Calisch helped start a nonprofit called Rewiring America focused on advocating for electrification. Through that work, he collaborated with U.S. Senate offices on the Inflation Reduction Act.

    The cost of lithium ion batteries has decreased by about 97 percent since their commercial debut in 1991. As more products have gone electric, the manufacturing process for everything from phones to drones, robots, and electric vehicles has converged around an electric tech stack of batteries, electric motors, power electronics, and chips. The countries that master the electric tech stack will be at a distinct manufacturing advantage.

    Calisch started Copper to boost the supply chain for batteries while contributing to the electrification movement.

    “Appliances can help deploy batteries, and batteries help deploy appliances,” Calisch says. “Appliances can also drive down the installed cost of batteries.”

    The company is starting with the kitchen range because its peak power draw is among the highest in the home. Flattening that peak brings big benefits. Ranges are also meaningful: It’s where people gather around and cook each night. People take pride in their kitchen ranges more than, say, a water heater.

    Copper’s 30-inch induction range heats up more quickly and reaches more precise temperatures than its gas counterpart. Installing it is as easy as swapping a fridge or dishwasher. Thanks to its 5-kilowatt-hour battery, the range even works when the power goes out.

    “Batteries have become 10 times cheaper and are now both affordable and create tangible improvements in quality of life,” Calisch says. “It’s a new notion of climate impact that isn’t about turning down thermostats and suffering for the planet, it’s about adopting new technologies that are better.”

    Scaling impact

    Calisch says there’s no way for the U.S. to maintain resilient energy systems in the future without a lot of batteries. Because of power transmission and regulatory limitations, those batteries can’t all be located out on the grid.

    “We see an analog to the internet,” Calisch says. “In order to deliver millions of times more information across the internet, we didn’t add millions of times more wires. We added local storage and caching across the network. That’s what increased throughput. We’re doing the same thing for the electric grid.”

    This summer, Copper raised $28 million to scale its production to meet growing demand for its battery equipped appliances. Copper is also working to license its technology to other appliance manufacturers to help speed the electric transition.

    “These electric technologies have the potential to improve people’s lives and, as a byproduct, take us off of fossil fuels,” Calisch says. “We’re in the business of identifying points of friction for that transition. We are not an appliance company; we’re an energy company.”

    Looking back, Calisch credits MIT with equipping him with the knowledge needed to run a technical business.

    “My time at MIT gave me hands-on experience with a variety of engineering systems,” Calisch. “I can talk to our embedded engineering team or electrical engineering team or mechanical engineering team and understand what they’re saying. That’s been enormously useful for running a company.”

    He adds: “I also developed an expansive view of infrastructure at MIT, which has been instrumental in launching Copper and thinking about the electrical grid not just as wires on the street, but all of the loads in our buildings. It’s about making homes not just consumers of electricity, but participants in this broader network.”

    Continue Reading

  • Donald Trump and Xi Jinping shake hands and depart after meeting in South Korea – live updates | China

    Donald Trump and Xi Jinping shake hands and depart after meeting in South Korea – live updates | China

    Trump-Xi meeting ends

    We’re seeing live footage of Trump and Xi leaving the negotiations building after shaking hands.

    Xi has gotten into a limousine and it is being driven away.

    The meeting reportedly lasted one hour and 40 minutes.

    Trump and Xi…

    Continue Reading

  • Asia stocks gain as Fed cuts, Trump-Xi meeting in focus – Reuters

    1. Asia stocks gain as Fed cuts, Trump-Xi meeting in focus  Reuters
    2. Stock market today: S&P 500 crosses 6,800 mark, joining Dow, Nasdaq in fresh records as US-China trade deal hopes run high  Yahoo! Finance UK
    3. China stocks end at 10-year high on upbeat earnings  Business Recorder
    4. Sell the news, then rebound?  FXStreet
    5. DeepThink from a certain exchange: Multiple macro events will hit this week, with easing China-US trade tensions and expectations of monetary easing strengthening bullish sentiment.  Bitget

    Continue Reading