Brazilian lender Bradesco posted a third-quarter net profit of 7.1 billion reais, about $1.4 billion, up 14.6% from a year earlier and roughly in line with analyst forecasts. Loans overdue more than 90 days climbed to 4.6% of the bank's portfolio.
Meta Platforms shares fell 6% after third-quarter spending on artificial intelligence infrastructure pushed the company's free cash flow negative for the first time in years. Prices for Meta's five-year credit default swaps climbed to record highs as investors signaled growing concern over the company's debt risk.
Reliance Jio Platforms, the telecoms and technology arm of Indian billionaire Mukesh Ambani's conglomerate, opened India's largest-ever initial public offering on Wednesday, seeking $3.2 billion from investors. The listing is the second mega IPO to reach Indian markets within a month, arriving despite subdued broader equity trading.
SpaceX shares jumped after demand for its computing power exceeded expectations, lifting the broader artificial-intelligence stock group along with it. Elon Musk also hinted at a possible tie-up with Tesla in the same update.
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