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Eight months of war jitters unwound in one Monday trading session, and a courtroom delivered a scathing ruling on Election Day’s eve. Meanwhile, Cupertino’s new boss faced his first report card, a savings bond suddenly looks generous, and a Virginia hawk got grounded for a reason its rescuers never expected.
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The Big Read
Oil Sinks Below $100 as Trump Says Iran Wants to Make a Deal
Crude oil prices sold off more than 7% Monday after President Trump said Iran wants to "make a deal," with U.S. crude settling at $96.46. Brent fell 7.6% to $104.77 a barrel as traders trimmed a war-risk premium built on fears of escalation after Tuesday's midterms.
Iran's foreign minister said a deal is possible if Washington "demonstrates goodwill," while Secretary of State Marco Rubio said Trump prefers diplomacy. Supreme Leader Mojtaba Khamenei had ordered a "geographically unrestricted response" to any threat, and a strategist said tanker and Houthi attacks should keep some premium.
Apple Beats Forecasts in John Ternus's First Report as CEO
Apple beat Wall Street's revenue forecasts in its fiscal fourth quarter, with sales up 12% to $114.5 billion in CEO John Ternus's first report. Profit rose to $30.71 billion, or $2.10 a share, beating the $1.99 analysts expected, though tariff refunds added 5 cents a share.
The results bucked a rough quarter for tech giants after Alphabet, Amazon and Intel disappointed, helped by record iPhone revenue and strong China growth. One analyst credited Apple's "tepid approach" to infrastructure spending, though shares had closed down 1.8% at $338.32 and barely moved after hours.
Judge Tosses Case Against Ex-FBI Officials, Citing 'Weaponization'
A federal judge dismissed the criminal case against two former FBI officials accused of lying to Congress about Hunter Biden, calling it "weaponization." Judge Zia Faruqui said the rushed case against Nikki Floris and Bradley Benavides came at the behest of Trump and FBI Director Kash Patel.
The pair had been charged around two weeks ago with lying to Congress in 2023 about their knowledge of the FBI's probes into Biden's son. The Justice Department can still seek an indictment, though it has struggled to win over Washington grand juries in politically charged cases.
World View
Russian bombs killed at least 26 people at an aid distribution center in southern Ukraine's Zaporizhzhia region, after at least nine 3,000kg bombs slammed into the village of Komyshuvakha.
Dutch authorities offered a record €2 million reward for information leading to the arrest of cocaine kingpin Jos Leijdekkers, a Europol most-wanted fugitive believed to be hiding in Sierra Leone.
An attack on a Colombian military base killed four civilians, including a baby, after assailants fired rockets made from gas cylinders that struck a nearby hospital and homes in Planadas.
Need To Know
The Supreme Court rejected a last-minute Justice Department request to intervene in its feud with California over the state's voter rolls, issuing the denial just hours after it was filed.
Newly purchased Series I savings bonds now pay 5.51% annual interest through April 30, up from 4.26%, the biggest yield since November 2022 as rising inflation lifted the rate.
SpaceX president Gwynne Shotwell's gift of shares will land in about 2 million children's Trump Accounts in December, one share each for kids 11 to 17 in lower-income ZIP codes.
Money & Markets
Palantir's quarterly revenue topped $2 billion for the first time ever, nearly doubling from a year ago, as U.S. commercial sales of $984 million overtook its government business.
All KFC and Taco Bell restaurants in Puerto Rico have temporarily closed after parent company Yum Brands ended its relationship with Encanto Restaurants, saying it could no longer meet standards.
The Dow climbed 213 points while the Nasdaq slid 1.1% on Monday as Nvidia and other tech names dragged the S&P 500 down 0.5% to 7,541.40.
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Future Frontiers
A natural warming cycle called El Niño is intensifying heavy rains and flash floods across the Southwest, where more than 20 trillion gallons of water fell in two weeks.
Falling aquifer levels and lingering drought have nearly drained Bear Butte State Park's centerpiece lake in South Dakota, usually 215 acres, leaving a strip of water measured in inches.
The FDA approved a generic version of the world's only twice-a-year HIV prevention shot, which is expected to cost $40 a year per person in 120 low- and middle-income countries.
The Score
The Oklahoma City Thunder announced Monday they will retire Russell Westbrook's No. 0 on Feb. 7, honoring a 2008 first-round pick who spent his first 11 seasons in OKC.
Reigning NHL MVP Nikita Kucherov said his trade request from Tampa Bay stems from "poor communication and respect," noting just two talks with GM Julien BriseBois over four months.
LSU and Alabama will not play in 2027, pausing a yearly rivalry dating to 1964 under the SEC's nine-game schedule, a change LSU coach Lane Kiffin called "sad."
Gardner Minshew is now Arizona's starting quarterback, coach Mike LaFleur said Monday, sending Jacoby Brissett to third string after Minshew rallied the Cardinals past Dallas 33-30 in overtime.
Life & Culture
Paul Anka, Barbara Mandrell and David Mamet join David Foster and Andy Garcia as 2026 Kennedy Center honorees, in a show moving offsite for the first time.
Justin Timberlake will release a four-part "tell-all" docuseries on Apple TV in December, directed by Fisher Stevens, with Janet Jackson reportedly discussing their 2004 Super Bowl "wardrobe malfunction."
Johnny Depp stopped short of confirming his return as Jack Sparrow for a sixth "Pirates of the Caribbean," saying he only wants to send it "off on a better note."
Deep Dive
SpaceX Shares Are Headed to 2 Million Kids' Trump Accounts
What it is: SpaceX President Gwynne Shotwell and her husband, Robert, are giving more than 2 million SpaceX shares to children's Trump Accounts, one share per eligible child, starting in December. That puts a stake in one of America's best-known companies into the hands of roughly 2 million kids, largely in lower-income neighborhoods across the country.
The detail: To qualify, kids must be 11 to 17 and live in a ZIP code where the median family income is $57,000 or less, or one too small for Census data. A second gift arrives within weeks for the same age group, covering children of military families serving overseas, kids in foster care and more families near the couple's Texas home.
Why it matters: Any U.S. child under 18 with a Social Security number can open a Trump Account, and babies born from 2025 through 2028 may also get a $1,000 Treasury deposit. A Treasury rule in late September let the accounts hold donated individual stocks for the first time, and the IRS chief said that could unlock more big gifts.
What to watch: Parents can check eligibility through the nonprofit Invest America and track the shares in the Trump Accounts app once December's distribution reaches their children's accounts. An even bigger wave could follow, since Elon Musk has said he plans to give every kid in America a SpaceX share sometime in 2027, possibly through these accounts.
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Today's Trivia
Extra Bits
A red-shouldered hawk found grounded in Virginia was "too darn fat to fly," vets concluded, after a neighbor's free-roaming chickens had been vanishing at an alarming rate for weeks.
A raccoon stuck headfirst in a tree hollow was freed by Austin firefighters wielding the Jaws of Life, which they used to widen the hole until it could pull free.
Scientists studying monkeys in Ethiopia got distracted by a bull and a male donkey with a "special relationship," publishing a first-of-its-kind case study and naming the pair Achille and Patroclo.
On This Day
Britain issues the Balfour Declaration (1917) · The BBC launches the world's first regular high-definition television service (1936) · Charles Van Doren admits to Congress he was given quiz show questions and answers in advance (1959) · Expedition 1 becomes the first long-duration crew aboard the International Space Station (2000)
"I was involved, deeply involved, in a deception." — Charles Van Doren, former "Twenty-One" champion, testifying before a House subcommittee
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—The Five Minute Daily Team



