Friday, November 14, 2025
REUTERS Updates: Global stock selloff deepens amid AI worries and US rate cut doubts
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The growing bullishness about the outlook for oil and gas demand was certainty apparent in energy giant Chevron’s latest strategy update, also released on Wednesday. Ron Bousso argues that it shrugs off long-term anxieties about the transition toward low-carbon energy as well as near-term concerns about a potential looming oversupply.
On the topic of oversupply, ROI Asia commodities columnist Clyde Russell wrote this week that the LNG market is bracing for a surge in supply next year, with significant uncertainty about how low spot prices will have to drop to clear the additional volumes.
Finally, over in the metals markets, ROI metals columnist Andy Home notes that copper has been added to the U.S. government's list of critical minerals, even though the U.S. has the world's second largest copper stockpile.
As we head into the weekend, check out the ROI team’s recommendations for what you should read, listen to, and watch to stay informed and ready for the week ahead.
I’d love to hear from you, so please reach out to me at anna.szymanski@thomsonreuters.com, opens new tab .
This weekend, we're reading. . .
Opinions expressed are those of the authors. They do not reflect the views of Reuters News, which, under the Trust Principles
, opens new tab, is committed to integrity, independence, and freedom from bias.
By Anna Szymanski.
The source for unbiased, factual news content from all corners of the world
U.S. stock futures point to a bleak open for Wall Street shares on Friday on investor concerns over interest rates and an AI bubble.
REUTERS/Brendan McDermid UK's Reeves abandons plans to raise income tax rates, roiling markets
British finance minister Rachel Reeves has no plans to raise income tax rates in this month's budget due to improved fiscal forecasts, a source said, following a surge in borrowing costs earlier in the day on reports she had backtracked on tax hikes.
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Morning Bid:
Buy the Rumor, Sell the News
14 Nov - Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend.
From the Editor
Hello Morning Bid readers!
The end of the U.S. government shutdown
may be an example of “buying the rumor and selling the news”, as Wall
Street tumbled on Thursday after rallying earlier in the week.
Though
with Nvidia and other AI leaders recording meaningful losses yesterday,
and bets on Federal Reserve cuts getting pared back, the major
market-moving issues clearly remain “AI bubble” fears and the trajectory
for policy easing.
One
reason the end of the longest-ever government shutdown – 43 days, if
you were counting – had only a modest impact on markets is that economic
clarity – one of investors’ biggest concerns related to the closure –
is unlikely to clear up, even with Washington DC open, as ROI markets columnist Jamie McGeever and ROI editor-at-large Mike Dolan both explained this week.
That lack of clarity is bad news for Fed Chair Jay Powell, and can help explain why the U.S. central bank may pause next month, as Mike Dolan argues.
Over
in Asia, the yen fell to its weakest level in nine months on Wednesday,
brushing up against the crucial 155 level. Jamie McGeever argues that
government intervention to prop up the yen may not yet be a given, but investors should still remain on high alert.
Advertisement · Scroll to continue
Staying
in Japan, a peculiar similarity is emerging between new Prime Minister
Sanae Takaichi and U.S. President Donald Trump. They both appear set on
using fiscal stimulus to combat cost-of-living concerns – which, as
Jamie McGeever argues, is a bit like trying to bring a fire under control by dousing it with gasoline.
Meanwhile, in energy markets, the International Energy Agency on Wednesday published its World Energy Outlook,
which introduced a new scenario showing that, given current government
policies, oil demand will not plateau in 2030 as previously expected,
but will instead keep rising through mid-century.
- It’s sobering reading for world leaders meeting in Brazil for COP30, explains ROI energy columnist Ron Bousso examines.
Speaking of the climate summit, ROI energy transition columnist Gavin Maguire looks at what has – and what hasn’t – changed since the landmark COP21 Paris agreement ten years ago.
The growing bullishness about the outlook for oil and gas demand was certainty apparent in energy giant Chevron’s latest strategy update, also released on Wednesday. Ron Bousso argues that it shrugs off long-term anxieties about the transition toward low-carbon energy as well as near-term concerns about a potential looming oversupply.
On the topic of oversupply, ROI Asia commodities columnist Clyde Russell wrote this week that the LNG market is bracing for a surge in supply next year, with significant uncertainty about how low spot prices will have to drop to clear the additional volumes.
Finally, over in the metals markets, ROI metals columnist Andy Home notes that copper has been added to the U.S. government's list of critical minerals, even though the U.S. has the world's second largest copper stockpile.
As we head into the weekend, check out the ROI team’s recommendations for what you should read, listen to, and watch to stay informed and ready for the week ahead.
I’d love to hear from you, so please reach out to me at anna.szymanski@thomsonreuters.com, opens new tab .
This weekend, we're reading. . .
CLYDE RUSSELL, ROI Asia Commodities and Energy Columnist:
This in-depth new report from the think tank Asia House, opens new tab looks at the expanding trade between the Middle East Gulf and Asia, noting that – for the first time ever – trade between the Gulf and China is now bigger than the region’s trade with the West. While energy remains the foundation of the trade relationship, it also is expanding into other sectors such as construction and electronics.
MIKE DOLAN, ROI Financial Markets Editor-at-Large: This piece by economic historian Marc-William Palen for the IMF's Finance & Development
, opens new tab magazine is a nice sweep of economic history that compares the current attempt to roll back globalization with the prior free trade waves going back into the 18th and 19th centuries - and the periodic, sometimes, disastrous retreats to economic nationalism. The piece asks whether we’re at a unique juncture now or just experiencing another cyclical wave.
MIKE DOLAN, ROI Financial Markets Editor-at-Large: This piece by economic historian Marc-William Palen for the IMF's Finance & Development
, opens new tab magazine is a nice sweep of economic history that compares the current attempt to roll back globalization with the prior free trade waves going back into the 18th and 19th centuries - and the periodic, sometimes, disastrous retreats to economic nationalism. The piece asks whether we’re at a unique juncture now or just experiencing another cyclical wave.
JAMIE MCGEEVER, ROI Markets Columnist: “Bubble or Nothing” is deep-dive by the Center for Public Enterprise into the AI boom – its funding and energy needs, its ‘circular’ financing, the revenues it may or may not generate, and the potential economic risks if the bubble pops. It has some excellent – and simple – graphics too. It’s long and detailed, though, so it’s perhaps one to bookmark.
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GAVIN MAGUIRE, ROI Global Energy Transition Columnist: While the IEA's latest report may have grabbed attention for saying that fossil fuels will linger in the global energy mix for longer that previously forecast, this outlook from Ember expects that clean energy sources will continue to squeeze out coal and gas in world electricity generation. It also features great detail on trends in key markets.
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We're listening to...
RON BOUSSO, ROI Energy Columnist: How effective are U.S. sanctions on Russia’s oil and gas industry? The answer is a mixed picture. This Carnegie Politika podcast
, opens new tab with Edward Fishman offers some great insights.
RON BOUSSO, ROI Energy Columnist: How effective are U.S. sanctions on Russia’s oil and gas industry? The answer is a mixed picture. This Carnegie Politika podcast
, opens new tab with Edward Fishman offers some great insights.
And we're watching...
ANNA SZYMANSKI, ROI Editor-in-Charge: Our very own Mike Dolan joined the Reuters Econ World podcast
, opens new tab for part two of the “AI bubble” discussion.
ANNA SZYMANSKI, ROI Editor-in-Charge: Our very own Mike Dolan joined the Reuters Econ World podcast
, opens new tab for part two of the “AI bubble” discussion.
Mike spoke with host Carmel Crimmins about the real-world impact of the artificial intelligence capex frenzy and the role national security is playing in the multi-billion dollar spending spree.
Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters websit, opens new tab, and you can follow us on LinkedIn, opens new tab
Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters websit, opens new tab, and you can follow us on LinkedIn, opens new tab
Opinions expressed are those of the authors. They do not reflect the views of Reuters News, which, under the Trust Principles
, opens new tab, is committed to integrity, independence, and freedom from bias.
By Anna Szymanski.
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Morning Bid: Buy the Rumor, Sell the News
Stocks slammed on dashed hopes of imminent Fed rate cut