Lula's Comeback in Brazil; Trump Threatens to "Finish it Off" in Iran

The broadcast opens with President Trump saying it is “getting to be decision time” on whether the United States will reach a deal with Tehran or resume attacks. At a Michigan rally, he said the United States would ensure that Iran never obtains a nuclear weapon and that the issue would end “one way or the other” soon. The episode description adds that Iranian and Houthi threats against Americans were growing, that the United States was reducing diplomatic and military staffing in parts of the Middle East, and that Iran was preparing possible retaliation across the region, including against Israel and the United Arab Emirates. Iran was reportedly hosting senior security and defense officials from Saudi Arabia, Pakistan, and Turkey. Bloomberg managing editor Jill D. Siss later said the meeting was significant because it brought members of the Mecca Defense Alliance to Iran for the first time since the alliance was established in August. She said the meeting, a new U.S. aircraft carrier in the Persian Gulf, and the administration’s rhetoric all suggested that renewed strikes after the U.S. midterms were being taken seriously. Diplomacy remained uncertain because Washington and Tehran were still far apart over nuclear capabilities and control of the Strait of Hormuz.

Trump used the Michigan rally to argue that Republicans needed to win the following week’s midterm elections. He warned that a Democratic victory would produce a “1929 style economic depression,” while claiming that a Republican victory would put $5,000 in each person’s pocket and deliver an economic success unlike anything the country had seen. He also repeatedly attacked Democratic Senate candidate Abdul El-Sayed and portrayed him as sympathetic to Islamic extremism because of his Muslim faith. California Senator Adam Schiff offered the opposing assessment on NBC’s Meet the Press, saying Democrats would win both chambers if the election were held that day but were being outspent by Elon Musk, the “MAGA Fund,” and other sources of big money. Bloomberg reported that Democrats were preparing congressional investigations if they regained power, with Representative Robert Garcia identifying the handling of Jeffrey Epstein-related files as a top priority. Potential inquiries would also examine Trump’s ties to Epstein, the Trump family’s business dealings, and alleged corporate corruption. Banks connected to Epstein’s financial dealings could be called to testify, leaving Wall Street and corporate America braced for investigations extending beyond Washington.

Brazilian President Luiz Inácio Lula da Silva came from behind to win the runoff election with 51.8% of the vote, defeating Flávio Bolsonaro, who received just over 48%. Bloomberg Latin America editor Fabiola Moura described Brazil’s electronic voting system as sound and fraud-proof, but said the campaign had been highly emotional. Flávio Bolsonaro led the first round, while Lula’s recovery was driven substantially by social media and WhatsApp. Moura noted that the 80-year-old Lula had not even owned a mobile phone until a few weeks earlier, while his supporters used messaging apps to mobilize voters. Bolsonaro refused to concede, and the episode description says he called for the runoff to be annulled, accusing Brazil’s Supreme Court of changing the rules by ordering a last-minute extension of voting hours. Markets had been positioned for a Bolsonaro victory because investors expected him to repair Brazil’s fiscal accounts. After Lula’s win, analysts anticipated political uncertainty and a possible selloff in Brazilian assets; the description cites an ETF tracking Brazilian equities in New York falling 27% in premarket trading and a currency derivatives contract indicating the real at 5.55 per dollar. The broadcast said the equity market faced a turbulent day.

Israel was preparing for an election pitting Prime Minister Benjamin Netanyahu against opposition leader Gadi Eisenkot. Former Prime Minister Ehud Olmert argued that many Israeli voters increasingly understood that the current government had failed to provide the security Israel deserved. He called the government reckless, irresponsible, and arrogant, saying it had not been careful or restrained. France avoided a repeat of large-scale violence during weekend demonstrations, but the underlying anger remained. Around 110,000 people protested in Paris and roughly 300,000 participated nationwide, according to the Interior Ministry. Bloomberg’s Ben Sills said the movement appeared to have reached “cruising velocity,” with more demonstrations planned for coming weekends. He cautioned that the relative calm did not show the crisis was over: approximately 70,000 security personnel, including elite anti-terror forces, had been deployed. In his account, the lack of violence reflected the enormous police and military presence rather than the disappearance of the grievances driving the protests.

White House economic adviser Kevin Hassett said U.S.-Canada trade negotiations had “picked up” and were gathering steam. He said Commerce Secretary Howard Lutnick had been speaking with Canadian counterparts throughout the week and that a deal could be close. Hassett attributed earlier difficulty to Canada’s recent election, including developments involving Alberta, which he said had made negotiations essentially impossible for a time. The comments followed the Trump administration’s decision to exempt some Canadian products from tariffs while adding duties to others. Bloomberg characterized the changes as an effort to benefit certain Maine businesses after lobbying by Senator Susan Collins, whose campaign to retain her Senate seat was mentioned in connection with the tariff adjustments. The segment therefore presented the negotiations as both an economic issue and part of the administration’s political strategy. No final agreement was announced, but Hassett’s message was that the two sides were closer to a deal than they had been previously.

Markets were heading into a week dominated by earnings from Alphabet, Microsoft, and Amazon, along with a Federal Reserve policy decision. Investors were especially focused on spending tied to the artificial-intelligence buildout. Margie Patel of Allspring Global Investments said roughly a quarter of S&P 500 companies had reported and had again surprised on the upside. She argued that more strong results could crystallize into a “very, very strong finish” to the year. The Fed was weighing stubborn inflation, higher energy costs, and elevated global bond yields. Traders had less conviction that officials would raise rates at that meeting, with the implied probability below 15%. Elon Musk said SpaceX had closed a $40 billion debt deal to fund Nvidia chips for its AI ambitions, although Bloomberg sources said pricing discussions were still continuing. The report placed Musk’s claim against a broader concern: AI companies had spent rapidly while generating limited profits so far, creating pressure in both the technology and debt markets. The Bloomberg Tech Minute then reported signs of stabilization in electric vehicles. Tesla and Rivian beat third-quarter sales expectations, while Hyundai and Ford said dealers wanted more battery-powered inventory. EV inventory fell from about a 180-day supply early in 2026 to 78 days in August, near the level for combustion-engine vehicles. Cox Automotive put EVs at about 6% of the U.S. market, but the segment had not returned to a demand boom; buyers were increasingly choosing hybrids and electric utility vehicles at prices closer to conventional cars.

Bloomberg’s New York update reported that police were searching for a man accused of a ninth-point sexual assault in Central Park. Officers found the 39-year-old victim near East 66th Street and Fifth Avenue at about 8:30 p.m.; she was taken to a hospital in stable condition. A woman heading to a volunteer event said the incident made her worry about being in the park early in the morning or late at night, even though she normally felt comfortable on both the east and west sides. Six Flags Over Georgia said it would add seatbelts to the Goliath roller coaster after a rider was killed when thrown from the ride earlier in the month. Independent engineers and specialists were reviewing safety protocols across all Six Flags parks. The company said Goliath had passed its March state inspection without violations, but its president and CEO pledged to evaluate the findings and strengthen safety standards. A United Airlines flight from Las Vegas to New Jersey returned to the airport after flight attendants reportedly saw a passenger texting that he planned to hijack the aircraft. Air-traffic-control audio indicated that law enforcement met the plane at the gate. The flight did not depart again until Sunday morning after the crew timed out; authorities had not confirmed whether the passenger was arrested or how serious the threat was. Sports news included Minnesota’s 6–0 start, San Francisco’s 29–20 loss to Atlanta, Kansas City’s 20–3 loss to Seattle, and the defending NBA champion Nuggets falling to 0–3.

In the featured interview, host Karen Moskow asked Jill D. Sis whether the regional security meeting renewed hope for diplomacy or mainly confirmed that governments were preparing for renewed conflict. Sis said there was “a lot of daylight” between the United States and Iran after repeated breakdowns in peace talks over the previous nine months. The meeting could show that regional governments were taking the possibility of post-midterm strikes seriously, but it did not demonstrate that Washington and Tehran were close to an agreement. Moskow also asked about the Houthis, whose attacks on Saudi Arabia were continuing. Sis said U.S. and other officials described the Houthis as making independent decisions, while Riyadh argued that Iran trained, armed, and supported them. She said the intensified attacks raised the possibility of a wider Middle Eastern conflict, particularly because Saudi Arabia had already faced an extended bombing campaign. The central unanswered questions were whether Houthi attacks would continue, whether Saudi Arabia would become more directly involved, and whether the United States would intervene further. The episode ended with Bloomberg promoting its daily Daybreak and Bloomberg News Now podcasts and live radio and streaming coverage.