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— Josh

MARKETS

💰 Report: Trump’s Fed Chair Candidates List Narrowed Down to Five

(Credit: White House/Daniel Torok)

The Scoop: Treasury Secretary Scott Bessent has narrowed the list of candidates for the next Federal Reserve chair from 11 to five, sources told CNBC.

The Details:

  • The five finalists are Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock’s Chief Investment Officer of Global Fixed Income, Rick Rieder.

  • Further interviews, led by Bessent with senior Treasury and White House officials, are planned but may extend past Thanksgiving due to Bessent’s commitments, including World Bank/IMF meetings and an Asia trip with Trump.

  • Rick Rieder has stood out to Bessent due to his Wall Street prominence, fixed income expertise, though no candidate definitively leads.

What’s Next: The selected candidate may first be nominated as a Fed governor to secure a 14-year term, as Chair Jerome Powell’s seat, expiring in May, has only two years left, though other strategies are possible.

Market Roundup

🏦 Economy

  • Editor’s Pick: Polymarket traders are wagering that the government shutdown will persist through October's end, with 45% odds of extending past October 15. (WSJ)

  • Trump plans to confront Chinese President Xi Jinping over soybeans at their next summit, threatening U.S. import curbs on Chinese goods if trade frictions persist. (INV)

  • IRS announced 2026 tax updates from One Big Beautiful Bill Act, raising standard deduction to $16,100 for singles and $32,200 for couples, setting top 37% rate above $640,600. (FBN)

  • China retaliated at U.S. port fees on Chinese vessels with equivalent charges on American ships, mirroring the $50-per-net-ton levy at 400 yuan. (CNBC)

  • The Trump administration has sealed a $20 billion financial lifeline to Argentina, blending currency swaps and peso purchases to ease liquidity strains and champion President Javier Milei's bold reforms. (UPI)

📈 Stock Picks

  • Editor’s Pick: Barron's recommends scooping up Dell Technologies shares, trading at a 15% discount to its $180 fair value, as the server maker rides AI infrastructure tailwinds. (BAR)

  • Rocket Lab is a top growth stock for a $1,000 investment, with a 40% annual growth forecast through 2027, according to Motley Fool. (MF)

  • Zacks highlights five undervalued stocks under $10 for Q4, including American Tower at $9.50 and Innoviz at $1.20, with over 50% upside potential based on average price targets. (ZACK)

  • Idex, the wide-moat industrial titan crafting premium niche products for critical markets, is trading at a 20% discount to its $210 fair value, according to Morningstar. (MS)

🏢 Industry

  • Editor’s Pick: The FAA is girding for prolonged flight disruptions, triggered by acute staffing shortages among air-traffic controllers at nine key facilities, including Chicago and Central Florida hubs. (FBN)

  • European governments plan to levy national handling fees on small packages ordered online from platforms such as Shein, Temu and Alibaba. (FT)

  • Nestlé quit the Dairy Methane Action Alliance, a year-old global pact to curb dairy supply-chain climate emissions. (RTS)

  • PepsiCo is revamping Lay’s potato chips, reformulating some varieties with olive or avocado oil in the Make America Healthy Again era. (WSJ)

  • Consumers’ Research unleashed an ad campaign targeting top insurance company Chubb and CEO Evan Greenberg, alleging "deep ties to the Chinese Communist Party." (FOX)

🛢️ Energy & Commodities

  • Editor’s Pick: The "climate hawk era" of net-zero mandates has drawn to a close, eclipsed by imperatives for affordable energy amid soaring costs, data-center booms. (DIS)

  • China tightened its chokehold on rare earth exports, adding five heavy elements—holmium, erbium, thulium, europium, and ytterbium—to licensing requirements. (OP)

  • The U.S. government has granted an authorization to Shell and Trinidad and Tobago to develop an offshore gas field in Venezuela close to the maritime border. (RTS)

  • ING economists project gold's average price surging to $4,150 an ounce in 2026. (INV)

🌕 Crypto

  • Editor’s Pick: Bitcoin evangelist Roger Ver, dubbed "Bitcoin Jesus," has struck a tentative agreement with the Justice Department to settle tax-evasion charges by forking over nearly $48 million. (NYT)

  • Senate Democrats proposed draconian DeFi regulations to mandate KYC for non-custodial wallets and empowers Treasury to blacklist so-called "risky" protocols. (CT)

  • Coinbase and Mastercard are locked in a heated bidding war to acquire stablecoin infrastructure provider BVNK for up to $2.5 billion. (FOR)

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TECH

💻 Robot Can Clean Houses, Do Laundry and Deliver Packages

(Credit: Figue AI)

The Scoop: Figure AI has unveiled Figure 03, its third-generation humanoid robot engineered for mass production and real-world deployment in homes and businesses. Powered by the company's proprietary Helix vision-language-action AI model, the robot promises autonomous performance of household chores and industrial tasks, DesignBoom reports.

The Details:

  • Figure 03 performs tasks like cleaning, laundry, dishwashing, and serving food, enabled by redesigned hands with tactile sensors detecting pressures as light as three grams, allowing delicate handling of fragile or irregular objects with softer, adaptive fingertips for enhanced grip control.

  • New palm cameras provide close-up visuals when main cameras are obstructed, such as in tight spaces like cabinets, improving real-time hand movement adjustments, with upgraded main cameras offering faster frame rates, 75% lower latency, and a 60% wider field of view.

What’s Next: Built for mass production, Figure 03 uses industrial manufacturing techniques like die casting and in-house components, with production planned at the BotQ facility, targeting 12,000 units annually initially and scaling to 100,000 within four years.

Tech Roundup

🧠 AI

  • ⭐ Editor’s Pick: OpenAI's Sora AI video-generation app rocketed to one million downloads in under five days since launch, surpassing ChatGPT's initial uptake despite iOS-only availability and invite-only access. (CNBC)

  • China ramped up customs inspections at major ports on Nvidia's H20 and RTX Pro 6000D AI chips, designed to skirt U.S. export curbs. (FT)

  • Amazon Web Services will unveil Quick Suite, a rebooted AI chatbot and agent arsenal for enterprise deskside drudgery that analyzes sales data, churning reports, and distilling web sprawl. (BBG)

  • Adobe unveiled a suite of AI agents tailored for B2B marketers to automate audience targeting, customer journey mapping, and data-driven insights. (SA)

🤖 Hardware & Robotics

  • ⭐ Editor’s Pick: America’s manufacturing revival is surging forward, fueled by robots that empower small factories to craft cutting-edge products like AI supercomputer components. (WSJ)

  • Robotriks is pioneering the first full-sized humanoid "robotic farmer" prototype for May 2026 rollout. (RAYO)

  • MIT unveiled 3D virtual worlds for robot training, generating millions of interactive scenes like kitchens to hone skills like stacking plates. (DW)

  • In a maritime milestone, a "Redwing" robot launched for a five-year autonomous global circumnavigation to collect ocean data for hurricanes. (IFLS)

🚀 Defense & Space

  • ⭐ Editor’s Pick: The Senate overwhelmingly passed the $925 billion 2026 National Defense Authorization Act, overcoming a months-long standoff. (FOX)

  • The U.S. is dispatching about 200 troops to Israel to bolster monitoring of the Gaza ceasefire with Hamas. (DN)

  • General Dynamics Land Systems will unveil a microwave-armed TRX Leonidas robot to zap drone swarms. (BD)

  • U.S. startup LeVanta Tech and Ukraine's Ukroboronprom will co-develop a hybrid "float-and-fly" drone capable of aerial agility over rough seas. (DP)

💰Venture Capital

  • ⭐ Editor’s Pick: Datacurve, the AI startup that streamlines data analytics for enterprises, raised $15 million in Series A funding led by Sequoia Capital. (TC)

  • n8n, the AI platform that lets enterprises weave generative tools into workflows, has reeled in $180 million in Series C funding at a $2.5 billion valuation. (GB)

  • Sensi.AI raised $45 million in Series C funding led by Qumra Capital to expand its AI-driven platform, which deploys voice and sensor tech to monitor seniors' health and automate care routines. (CALT)

  • Kernel, a startup equipping AI agents with seamless, secure Chrome-based web navigation, secured $22 million in combined seed and Series A funding led by Accel. (AX)

FREEDOM

📢 Telegram CEO Durov Warns World "Running Out of Time to Save the Free Internet"

(Credit: Tucker Carlson Show/Screenshot)

The Scoop: Telegram CEO Pavel Durov issued a stark warning on his 41st birthday via X, warning of a looming "dark, dystopian world" as governments erode online privacy through measures, CoinTelegraph reports.

The Details:

  • Durov cautioned that "our generation is running out of time to save the free internet," citing the EU's Chat Control proposal to scan encrypted messages on platforms like Telegram and Signal, the UK's mandatory digital ID for work and services, and Australia's social media ban for under-16s starting December 2025.

  • Durov condemned restrictions on free speech, including Germany's prosecution of online critics, the UK's jailing of thousands for social media posts, and France's probes of tech leaders defending privacy, saying the internet's open exchange is becoming a tool of control.

What’s Next: The EU Chat Control faces further hurdles in the Council, while the UK's digital ID petition triggers parliamentary debate amid public backlash, and Australia's ban rollout prompts platforms to refine age tech ahead of December enforcement.

Freedom Roundup

🏛️ Policy & Culture

  • Editor’s Pick: Trump plans to expand the Mexico City Policy, banning U.S. foreign aid for DEI and gender ideology programs. (CFAM)

  • The University of Tennessee at Chattanooga's dean of students has overruled the student government's rejection of a Turning Point USA chapter, citing free-speech protections. (CF)

  • Free speech advocates are pressing the European Commission to overhaul the EU’s Digital Services Act, slamming its “arbitrary censorship” of platforms like X through hefty fines. (BRUS)

  • Palestinian producer Baher Agbariya, behind Israel's Oscar-contending film "The Sea," has blasted Hollywood's Film Workers for Palestine boycott against the Jewish state. (DL)

That's a wrap! You're officially caught up on all things tech, markets and freedom. Subscribe to CAPITAL below.

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DISCLAIMER: The CAPITAL newsletter is for informational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research and consult a qualified financial advisor before making investment decisions. The CAPITAL newsletter and its owner and operator, Josh Caplan, are not liable for any loss or damage resulting from reliance on this information. The CAPITAL newsletter is solely owned and independently operated by Josh Caplan, separate from any employer affiliations.

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