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.

2331 ET - China's trade momentum will be tested after solid September data, according to BofA securities economists in a research note. The latest trade data highlighted continued resilience in exports, supported by an ongoing tech cycle and stable demand outside of the U.S., the economists say. With domestic demand still weak, whether the strength in September's import growth sustains will be a critical point, they say. Another variable is the ongoing development on the U.S.-China trade front. With U.S. President Trump proposing an additional 100% tariff increase effective Nov. 1, businesses may frontload orders in October if they perceive this risk as likely to materialize, they add. (tracy.qu@wsj.com)

2237 ET - Malaysia's semiconductor sector faces a cautious outlook despite growth in global chip sales, due to lingering uncertainties over the U.S. trade policy, says TA Securities analyst Chan Mun Chun. The Malaysian government is advancing its national semiconductor blueprint to strengthen the sector's value chain, he says, noting that Budget 2026 contained several initiatives to support the digital economy. Chan maintains a neutral rating on the sector. He raises Inari Amertron's target price to MYR2.48 from MYR2.11, as its key American smartphone customer is likely to be exempted from the potential sectoral semiconductor tariffs proposed by the Trump administration. TA Securities maintains a hold rating on Inari. (yingxian.wong@wsj.com)

2025 ET - Oil rises in the early Asian session amid signs of easing in U.S.-China trade tensions. Treasury Secretary Bessent said Monday that the two sides would talk in the coming weeks, and the threatened tariff hike didn't need to happen. "Both the U.S. and China spent the weekend walking back from the brink of another trade war, with U.S. policymakers doing most of the talking and helping to undo the damage done on Friday," IG's chief market analyst Chris Beauchamp says in an email. Front-month WTI crude oil futures are up 0.4% at $59.76/bbl; front-month Brent crude oil futures are 0.4% higher at $63.57/bbl. (ronnie.harui@wsj.com)

1511 ET - Scandinavian car carrier Wallenius Wilhelmsen suspended its financial outlook for 2025 after the U.S. raised port fees on roll-on/roll-off, or RoRo, vessels. The office of the U.S. Trade Representative said in a notice Friday that the fee set to take effect Tuesday would be $46 a net ton, up from a previously proposed $14 a net ton. The USTR notice adds that collection of the fee per vessel would be limited to five times a year. Wallenius Wilhelmsen, whose shares closed down 4.2% in Oslo, said fourth-quarter results could be affected by the new fees. (mark.long@wsj.com)

1024 ET -- Morgan Stanley analysts say that while a durable U.S.-China trade deal remains unlikely, neither side wants a lasting breakdown. Rather, the latest rare-earth export controls and the threat of 100% U.S. tariffs appear to be part of a cycle of tactical escalation, the analysts say in a research note. While headlines may spook markets in the short term, a full decoupling of trade flows is improbable, they write. Investors should expect temporary volatility rather than structural disruption, with both sides likely to recalibrate policies ahead of major summits, the analysts add. (connor.hart@wsj.com)

0932 ET - CBOT grain futures are mixed in pre-market trade to start the week, this after President Trump appeared to throw water on the building tensions between the U.S. and China. In a post on his Truth Social account, Trump says "don't worry about China, it will all be fine!" Concerns about an escalating U.S.-China trade war, with a new 100% tariff on Chinese imports set to start next month, has been a pressure point on U.S. grains, particularly soybeans. But soybeans are up pre-market, up 0.3%, while corn is up 0.1% and wheat falls 0.7%. (kirk.maltais@wsj.com)

0859 ET - Trump softens the tone on China, offering markets some relief after Friday's rout. U.S. bond markets are closed for Columbus Day, while the dollar strengthens. "Don't worry about China," Trump posts on social media, "it will be fine!" That follows his Friday attack on Beijing's attempts to limit global trade of key minerals, which sent stocks, the dollar and Treasury yields sharply lower. The U.S. government shutdown starts to hurt workers, while depriving investors and business managers of important economic indicators. The WSJ Dollar Index rises 0.3%. The dollar strengthens 0.4% versus the euro and 0.2% against the yen. (paulo.trevisani@wsj.com; @ptrevisani)

0853 ET - The Swiss franc is likely to remain strong in the near term, even though U.S. tariffs pose a serious problem for Switzerland's economy, ING analysts say in a note. U.S. tariffs could knock 0.85% to 1.7% off Swiss growth, they say. However, the franc remains strong and the Swiss National Bank has limited room for foreign exchange interventions or large interest-rate cuts into negative territory. The euro is unlikely to turn decisively higher versus the franc until eurozone growth picks up in 2026, they say. ING expects the euro to stay near current levels at 0.93 francs in the next three months before rising to 0.96 in 12 months.(renae.dyer@wsj.com)

0849 ET - AstraZeneca's drug-pricing deal with the White House could serve as a blueprint for other European pharma groups, Barclays analysts write. The British drugmaker became the second global pharma company after Pfizer and the first European one to announce an agreement with President Trump. It also reduced uncertainty over U.S. price cuts and will offer chronic-disease prescriptions at a discount of up to 80% off list prices, the analysts say. AstraZeneca's vulnerability to price cuts is limited given its small exposure to Medicaid, Barclays adds. Shares are down 1.1% and have risen 21% year to date. (william.gray@wsj.com)

0827 ET - The U.S threatens to sanction nations that vote to reach net zero ship emissions by 2050 as part of its policy to rely on oil, rather than cleaner energy sources. In a joint statement, Secretary of State Marco Rubio and Transportation Secretary Sean Duffy said countries backing the International Maritime Organizations' decarbonisation plan may face port bans and visa restrictions on seafarers from countries "sponsoring activist-driven climate policies." The IMO vote is expected on Friday with the EU leading the push to adopt the net-zero target. (costas.paris@wsj.com)

0823 ET - AstraZeneca's drug-price deal with President Trump is a positive development that reduces uncertainty around U.S. pricing and tariffs, UBS analysts write. The British pharma group gave important clarity in explaining that it structured the deal so that Medicaid discounts shouldn't widely extend to other parts of its portfolio, the analysts say. The company's financial risk should be limited since under 5% of AstraZeneca's U.S. sales come from Medicaid, the analysts write. Another positive is that pricing discounts should be smaller than feared since they will be based on a smaller group of developed nations, UBS adds. Shares down 1% Monday and are up 21% year to date. (william.gray@wsj.com)

0812 ET - U.S.-China trade developments and U.S. earnings will prove key in determining the outlook for stocks and cryptocurrencies this week, IG analyst Chris Beauchamp says in a note. Much depends on whether President Trump remains focused on reducing Middle East tensions and leaves China "on the back burner" after threatening fresh tariffs on the country, he says. "Earnings season gets underway in earnest too, as U.S. banks report, which will be key for risk appetite in the near-term for both stocks and cryptocurrencies." Following a recent slump in cryptocurrencies, any signs of renewed appetite will be closely scrutinized, he says. Bitcoin falls 0.7% to $114,240 after hitting a three-and-a-half-month low of $104,782 on Saturday, LSEG data show. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

October 13, 2025 23:31 ET (03:31 GMT)

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