Market-moving news for Saturday, November 14, 2026

What happened

Tesla and SpaceX have moved merger negotiations beyond the exploratory stage and could announce a combination as soon as December, Bloomberg reported on Thursday, Nov. 12, citing people familiar with the discussions. Boards and advisers at both companies are now working through the mechanics of a stock-for-stock exchange and the governance structure of a combined entity, including the exchange ratio for Tesla shareholders. An announcement could also slip into early 2027 if remaining issues prove hard to resolve. Based on recent market values, the two businesses together are worth roughly $3.47 trillion — SpaceX at about $1.9 trillion and Tesla at approximately $1.5-1.57 trillion — which would make it the largest corporate merger ever attempted. Neither company has disclosed an agreed ratio, purchase price or completion date, and both declined to comment. Tesla shares rose as much as 1.9% on the report.

What happened

The Federal Reserve's semiannual Financial Stability Report, released Friday, November 13, found artificial intelligence is now the most-cited risk to the U.S. financial system among the market contacts the New York Fed surveys. 87% of the 23 contacts surveyed in September and October cited AI as a salient risk, up from 50% in the May 2026 survey and 30% in fall 2025. The next most-cited risks were a broad correction in risk assets (52%), higher long-term interest rates (48%), cyberattacks (43%) and fiscal debt sustainability (43%). The report put hard numbers on the AI buildout: advanced computing-related debt issuance reached $680 billion by October 2026, about five times the $130 billion issued in all of 2023, and now accounts for nearly a third of all nonfinancial investment-grade corporate debt issuance, up from under 6% three years ago. The Fed also found debt, guarantees and not-yet-commenced leases on AI infrastructure could exceed $3 trillion, and noted hedge-fund leverage remains at the highest levels since the Fed began collecting the data in 2013.

What happened

The White House confirmed on Friday, November 13 that President Trump will meet Chinese President Xi Jinping and Russian President Vladimir Putin on Thursday, November 19, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, China. It will be the first-ever trilateral meeting of the leaders of the three countries, and the first gathering of the heads of the world's three biggest nuclear powers. The agenda is nuclear arms control and the U.S. war with Iran; a senior U.S. official said Trump will raise Iran with both leaders and steer away from Ukraine. Officials were explicit that no agreements are expected — the meeting is intended as the 'beginning of hopefully a conversation' on nuclear disarmament. Trump departs Washington on Monday, November 16 for Manila, then travels to Shenzhen on Wednesday for the APEC meetings.