This is the Daily Shot Brief, an abridged version of The Daily Shot. If you would like to subscribe to the full-length Daily Shot (see example), please register here.
United States
Homebuyers canceled 14.5% of purchase contracts in September, the highest share on record outside the pandemic.
Europe
China’s business R&D spending as a share of GDP is now far above the EU’s and level with Germany’s.
China
China’s year-to-date trade surplus expanded to a record high.
Equities
AI beneficiaries have weakened since late June, while companies exposed to AI disruption have rebounded.
Alternatives
Private equity buyers’ valuation premium over strategic acquirers has narrowed to its lowest level since 2023, with sponsors paying a median 10.9 times EBITDA versus 8.9 times for strategic buyers.
Global Developments
Here’s a look at the latest IMF global growth forecast for 2026 …
… and 2027.
Food for Thought
Magazine covers can serve as contrarian sentiment indicators, with bearish covers often appearing near market bottoms and bullish covers near peaks.
