October 23, 2026: Some Canadian Tariffs Exempted, Oil at Six-Month High, More

0:01 News when you want it with Bloomberg News Now. I'm Ed Kalangi. President Trump is cutting some tariffs on Canada in a bid to help Republican Senator Susan Collins win re-election. Bloomberg's Amy Morris reports from Washington.

0:15 The Trump administration is expanding tariff exemptions to more Canadian products. One official says Trump will amend the tariffs to add new ones to replace those exclusions. Maine Senator Susan Collins announced the exemptions would apply to certain paper, plastic, machinery and seaweed products, saying they'll help the state's rural and coastal economy. Collins, who is in a competitive re-election race, has touted her ability to secure tariff reductions affecting Maine consumers and businesses. Her opponent, Troy Jackson, says she only acted because she's at risk of losing her seat. Those changes will take effect October 30th. In Washington, Amy Morris, Bloomberg Radio.

0:53 Brent oil finished out the week at the highest level since April as intensifying attacks in Saudi Arabia added to supply concerns already stoked by the U.S.-Iran war. The global crude benchmark settled below $ 117 a barrel on Friday, up more than 6 percent this week, while West Texas Intermediate closed above $ 103. Iran-backed Houthi militants claimed recent attacks on the Saudi Red Sea port of Yanbu as well as deadly strikes on an oil field and airport in the kingdom.

1:23 The flare-up threatens to widen hostilities around the Strait of Hormuz, where crude exports have recovered to near pre-war levels. The Trump administration is suing to preemptively stop Alaska election officials from certifying the results of next month's U.S. Senate contest if the Republican candidate loses by a close margin, claiming there's a risk of voter confusion because two individuals with similar names will be on the ballot. The lawsuit filed by the U.S. Justice Department at President Trump's request on Thursday in federal court in Anchorage marks a major escalation of the administration's involvement in the November 3rd midterm elections, when Republicans will try to keep their control of the

2:04 House and Senate. Democrat Mary Peltola is seeking to unseat incumbent Senator Dan S. Sullivan, a Republican. Another candidate, Daniel J. Sullivan Jr., is also running and will appear on the ballot. The DOJ contends Daniel J. Sullivan is running as a deliberate spoiler to the senator's re-election campaign, pointing to earlier findings by the state's election office that he was trying to dupe voters. However, the Alaska Supreme Court allowed him to remain on the ballot. Another losing week, two in a row for the S & P 500 index. More on this from Bloomberg's Charlie Pellett.

2:37 For the week, the S & P 500 index was down for a second week, falling 0.5%. The S & P dropped for a second day as oil prices rose and technology mega caps treaded water after Thursday's sell-off. The Philadelphia Semiconductor Index, or the SOX, ended the day up by 0.4%, while West Texas Intermediate Crude Oil added 3.9% to top $ 103 a barrel. The Dow this week, up for a third week. NASDAQ this week was down 0.7%.

3:10 In New York, Charlie Pellett, Bloomberg Radio.

3:13 Ukraine still faces limits on Starlink and Starshield. Ukrainian President Volodymyr Zelensky says the Starshield speed limits are still in place.

3:23 The speed limits on Starlink and Starshield are still there, and the speed has not been restored. Things have become harder, partly because of the Starlink and Starshield policies and speed limits, but our front line is still holding.

3:41 Zelensky says there is an agreement for a trilateral meeting with a goal being the first half of November, possibly sooner, and he hopes the U.S. will deliver on Patriot interceptors as Russia has already begun its winter attacks. French authorities are bracing for a new round of protests Saturday, rolling out the military to back up police in a bid to prevent a repeat of last weekend's riots and reassure markets unnerved by the violence. There will be 20 percent more police on the ground than last Saturday, according to the Interior Ministry. The chaos that followed cost-of-living protests then led to the looting of 3,000 stores and 2,700 arrests.

4:18 On top of the reinforced police presence, special intervention forces, normally used for risky missions like counterterrorism, will be used if needed. Mark Walter is looking to sell the WNBA's Los Angeles Sparks, taking another step in the dismantling of his sports team empire. This according to people familiar with the matter. Walter, a co-founder of money management firm Guggenheim Partners, sold the Lakers earlier this year at a $ 12. 5 billion valuation to Joshua Kushner and Bob Iger, but the WNBA team had remained under his ownership. Kushner and Iger later discussed acquiring the Sparks, but they are not among potential buyers.

4:56 Game one of the World Series in Milwaukee Friday night, the Brewers defeated the Tampa Bay Rays 3-2. The Friday numbers on Wall Street, the Dow dropped 652. That's over 1.2 percent. NASDAQ fell 53. The S & P 500 lost 39. The 10-year Treasury yielded 4.99 percent. The two-year, 4.68 percent. Oil, West Texas Intermediate at 103.30, Brent Crude at 116.84. That's news when you want it with Bloomberg News Now. I'm Ed Kolegi. This is Bloomberg.