Germany Q3 unadjusted GDP preliminary YoY and LME copper, aluminum and nickel inventory changes to Oct 30 (UK) due in 10 minutes.

Domestic News: 1. The Fifth Plenary Session of the 20th Central Committee of the Communist Party of China will be held in Beijing from October 26 to 29, 2026. The session decided that the 21st National Congress of the Communist Party of China will be held in Beijing in the second half of 2027. 2. The deadline for applying for the Beijing car trade-in subsidy program has been extended to January next year. 3. All nine actively managed ETFs listed on the Shanghai Stock Exchange have completed their fundraising, with total subscriptions exceeding 19.5 billion yuan. Some actively managed ETFs have already started building their positions today. 4. Zhongji Xuchuang: Revenue for the first three quarters of 2026 was 69.547 billion yuan, a year-on-year increase of 178.13%; net profit attributable to shareholders was 22.238 billion yuan, a year-on-year increase of 211.81%. 5. Xin Yisheng: Revenue for the first three quarters of 2026 was 31.85 billion yuan, a year-on-year increase of 92.97%; net profit attributable to shareholders of the listed company was 11.372 billion yuan, a year-on-year increase of 79.74%. 6. GigaDevice: Revenue for the first three quarters was RMB 20.297 billion, a year-on-year increase of 197.11%; net profit attributable to shareholders of the listed company was RMB 11.066 billion, a year-on-year increase of 921.55%. International News: 1. US media: The Trump administration is continuing negotiations on a temporary peace agreement between the US and Iran. 2. The European Central Bank kept interest rates unchanged, and financing conditions have tightened somewhat. ECB President Christine Lagarde will step down early on February 7, 2027. 3. US inflation accelerated in September, and expectations for a Fed rate hike in December are rising. 4. US economy grew by 3.4% in the third quarter, exceeding market expectations. 5. US weekly initial jobless claims continue to hover near 57-year lows. 6. Microsoft launched its first high-grade dollar bond issuance since 2017, aiming to raise at least $25 billion. 7. The President of the European Commission proposed granting Canada associate membership status. 8. A Russian diesel tanker originally bound for Brazil was diverted to the "Atlantic coast". 9. Middle East Situation— ① Iran has not yet responded to Vance's letter, insisting that the United States meet seven conditions. ② Qatar purchases liquefied natural gas from the United States and other regions to hedge against risks in the Strait of Hormuz. ③ Iranian Navy Deputy Commander: Iran conducted more than 20 military operations against US warships during the 40-day war. ④ Iranian Revolutionary Guard: The Strait of Hormuz will remain blocked until Iran's conditions are met.

BERNSTEIN cuts PT for Hershey (HSY.N) to $169 from $201.