China continues to grapple with deflation concerns as October industrial profits sink. U.S. indices appear to shrug of the threat of upcoming Trump tariffs and rising on the promise of further Fed easing. Attention will now turn to today’s PCE print. CNBC learns that OpenAI employees are set to sell $1.5bn of stock in a tender offer to SoftBank. And in the Middle East, a U.S.-brokered ceasefire deal between Israel and Hezbollah comes into effect. Israeli Prime Minister Benjamin Netanyahu warns his country is ready to respond immediately should any part of the agreement be violated.

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