Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.

2253 ET - Thailand's electronics sector likely experienced little impact from U.S. tariffs in 3Q, UOB Kay Hian analysts write in a note. Although U.S. tariffs on Thailand took effect in August, data showed that the value of Thai electronics component exports during the month didn't decline significantly from July. "Managements of companies under our coverage indicated that a 19% tariff rate still allows Thailand to remain competitive [against] other electronics exporters," they add. But continuing negotiations with the U.S. on its local-content requirements pose headwinds, the brokerage says. The U.S. is pushing for 50%-60% local content, while Thailand is seeking to lower the threshold to 40%. (amanda.lee@wsj.com)

1505 ET - Three big federal bank regulators, the Fed, the FDIC and the OCC, are withdrawing 2023 guidance that laid out how banks should tackle financial risks linked to climate change. The decision comes amid pressure under the Trump administration for bank regulators to focus more narrowly on financial activities, reversing initiatives like the climate guidance that had run up against broader social and political issues. " he agencies do not believe principles for managing climate-related financial risk are necessary," they said in a press release, in part because broad safety and soundness standards make the rules redundant, the agencies say. At the Fed, the decision was preceded by a 5-1 vote in favor of the move by the central bank's governors, with Michael Barr, a Biden-appointed former supervisory vice chair at the Fed, the only official to dissent. (matt.grossman@wsj.com; @mattgrossman)

1421 ET - Stellantis has offered assurances it remains committed to restarting an idled Canadian plant and the workers, Prime Minister Mark Carney says. Carney says he spoke with the global head of the automaker and was told the company is looking to identify a new model for the Brampton, Ontario plant, after it decided to make midsized Jeeps in Illinois instead of Ontario. Carney says Stellantis's decision on a vehicle for Brampton hangs on the a new trade deal between Canada and the U.S. being finalized. As well, the prime minister said his government was working with Stellantis, the union and the province of Ontario to ensure Brampton workers have the opportunity to move to a third shift being added to Stellantis's Windsor, Ontario, plant that would add 1,500 jobs and that they receive comparable support to what they now receive. (robb.stewart@wsj.com)

1049 ET - Gold prices climb to a new record, as U.S.-China trade frictions and growing expectations for further interest-rate cuts boost the precious metal's appeal. Futures in New York rise 1.9% to $4.281.70 a troy ounce after reaching $4,283.90 earlier, while spot gold is up 1.6% to $4,207.77 an ounce. Bullion has gained nearly 8% this week, also supported by growing political uncertainty in the U.S. "With the government shutdown now in its fifteenth day, markets have lost reliable guidance from economic releases and instead are anchoring on trade flows and risk sentiment," analysts at Sucden Financial say. "The longer this standoff continues, the more sensitive markets become to unexpected data in either direction." (giulia.petroni@wsj.com)

0624 ET - China's deflation may no longer offer relief to price pressures in the U.S. as tariff effects take hold, according to Jennifer McKeown of Capital Economics. Deflation in China has added to disinflationary forces in advanced economies over the past few years, but tariffs are likely to reverse that trend in the U.S., the chief global economist says in a note. The rise in the average tariff on U.S. imports from China from 10% to 40% so far this year will far more than reverse the previous decline in China's export prices due to deflation, she says. Rising core goods prices in the U.S. could add a further 0.2 percentage point to headline inflation as the tariff impact mounts in the next six months, CE says. (tracy.qu@wsj.com)

0418 ET - Trump's recent threat to impose an additional 100% tariff on China's imports from Nov. 1 is unlikely to materialize, Nomura analysts write in a note. Recent comments from U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer seem to suggest that a trade truce is likely, the analysts say. The proposed tariff also seems unsustainable, they add. China's export controls on rare-earth minerals and its subdued U.S. soybean purchases are posing threats to America's manufacturers and farmers. The U.S. had threatened substantially higher tariffs on imports from China in April, Nomura notes. The two sides struck a truce in May.(amanda.lee@wsj.com)

0348 ET - Gold prices rise to a fresh record on Thursday, extending the previous session's gains as U.S.-China trade tensions, the federal government shutdown and rate-cut bets boost demand. In early trade, futures in New York are up 1% to $4,244.20 a troy ounce after reaching $4,255.40 earlier, while spot gold climbs 1.6% to $4,207.77. "The absence of key economic data, nonfarm payrolls and soon to be the CPI report as well ahead of the FOMC later in the month, leaves investors navigating short-term uncertainty without hard data," says Ahmad Assiri, market strategist at Pepperstone. Gold has climbed 60% this year as investors rushed into safe-haven assets amid growing political and economic uncertainty. "Investors are willing to pay higher premium to diversify their portfolio risk, with gold remaining both a risk diversifier and strategic asset," ANZ analysts say. (giulia.petroni@wsj.com)

0334 ET - Oil prices rise in early trade after President Trump said Indian Prime Minister Narendra Modi pledged to halt purchases of Russian oil, a move that could disrupt global flows. Brent crude and WTI rise 0.9% to $62.45 and $58.33 a barrel, respectively. The Trump administration in August slapped additional tariffs on India for its purchases of discounted Russian seaborne crude as part of a broader effort to pressure Moscow. However, further price gains are capped by concerns over the U.S.-China trade spat and prospects of an impending oil glut after the IEA raised its oversupply estimates this week. (giulia.petroni@wsj.com)

0317 ET - Bitcoin rises slightly but remains at weaker levels following a recent selloff triggered by renewed U.S.-China trade tensions. U.S. Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent slammed China's decision to step up curbs on its exports of rare-earth metals. However, Bessent said President Trump still planned to meet with Chinese leader Xi Jinping at the end of the month and was optimistic that tensions could be de-escalated. Trump on Friday threatened an additional 100% tariff on Chinese exports, hitting risk appetite and causing cryptocurrencies to fall sharply. Bitcoin rises 0.3% to $111,549 but remains well below the record high of $126,223 reached last week, according to LSEG. It hit a three-and-a-half-month low of $104,782 Saturday. (renae.dyer@wsj.com)

0232 ET - Eurozone bond yields edge higher after opening, but the latest bond market rally could continue as a tangible trigger for a change of course remains absent without U.S. data, Commerzbank Research's Hauke Siemssen says in a note. A successful confidence vote for French Prime Minister Sebastien Lecornu is already expected, making "the air for [French government bonds] OATs getting thinner," the rates strategist says. Spanish and French government bond auctions put the latest tightening in yield spreads to test, he says. The 10-year OAT-Bund yield spread is 78.2 basis points, little changed from Wednesday's close, according to LSEG. The 10-year Bund yield is up 0.9 basis points at 2.567%, according to LSEG. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

October 16, 2025 22:53 ET (02:53 GMT)

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