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By Lewis Krauskopf NEW YORK (Reuters) -Earnings reports next week, including from Tesla and Netflix, will provide a deeper look at U.S. corporate profits while delayed U.S. inflation data will mark another test of the stock market, which has become shakier even as it remains around record highs. The fourth year of the S&P 500's bull run kicked off this week with some significant gyrations after a long period of market calm. Revived U.S.-China trade tensions and credit concerns at regional U.S. banks drove the anxiety. The CBOE market volatility index, known as Wall Street's "fear gauge", has surged in recent days and hit its highest level in nearly six months on Friday. "The market is becoming more volatile, but it's also coming off of a very non-volatile period where we didn't have a lot of risk catalysts bubbling to the top," said Michael Reynolds, vice president of investment strategy at Glenmede. "Once you have valuations hit sort of full levels, as we're seeing now almost across the board, you have to be on the lookout for incremental risk catalysts." The spark for the latest volatility was a surprise resurgence in U.S.-China trade tensions. Stocks slumped late last week after the U.S. threatened to significantly hike tariffs by November 1 over China's rare-earth export controls. The U.S.-China trade issue will be key for markets in the coming week, said Doug Beath, global equity strategist at Wells Fargo Investment Institute. U.S. President Donald Trump confirmed on Friday that he would meet with Chinese President Xi Jinping in two weeks in South Korea. Sharp swings in global financial shares to end the week also kept investors on edge as they weighed the extent of credit concerns emerging from regional U.S. banks. Major stock indexes posted weekly gains and are on pace for strong years. The benchmark S&P 500 is up 13.3% year-to-date and 1.3% below its record high. But there are signs the market is weakening under the surface. The percentage of S&P 500 stocks in some form of an uptrend declined from 77% in early July to 57% as of Tuesday while the number of stocks in a downtrend increased from 23% to 44% over that time, according to Adam Turnquist, chief technical strategist for LPL Financial.  That "narrowing gap highlights emerging cracks in the market’s foundation," Turnquist said in written commentary. Similarly, Kevin Gordon, senior investment strategist at Charles Schwab, said he will be watching how broadly based the market's gains are going forward. "If you have a fewer number of companies that are actually moving higher, but the indexes do move higher because of the megacaps, that's a really important divergence," Gordon said. Attention will be on third-quarter earnings after major banks started the reporting season on a strong note. Aside from streaming giant Netflix and electric vehicle maker Tesla, other companies due to report in the coming week include consumer companies Procter & Gamble and Coca-Cola, aerospace and defense giant RTX and tech stalwart IBM. The corporate results and executive comments will offer insight into the economy as the U.S. government shutdown has stopped economic data releases since October 1, including monthly employment data. Corporate "reports and what companies say is really our best chance at assessing what the broader economic health is," Gordon said. The government has said it will release the U.S. consumer price index for September on Friday, nine days late, saying the CPI data allows the Social Security Administration to meet deadlines for timely payment of benefits. The CPI report, which is a closely watched inflation gauge, will be released days before the Federal Reserve's next monetary policy meeting on October 28-29. The U.S. central bank is widely expected to cut interest rates by a quarter percentage point again, after weakening jobs data prompted the Fed to lower rates last month for the first time this year. "We'd really have to see something out of left field in terms of notable inflation pressures to knock the Fed off of a rate cut path at the October meeting," Glenmede's Reynolds said. (Reporting by Lewis Krauskopf; Editing by Alden Bentley and David Gregorio)

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(This October 16 story is repeated without any changes to the text.) By AJ Vicens and Raphael Satter (Reuters) -A breach at U.S.-based cybersecurity company F5 has been blamed on state-backed hackers from China, two people briefed on the investigation said on Thursday. On Wednesday, U.S. government officials said federal networks are being targeted by an unidentified "nation-state cyber threat actor" that is trying to exploit vulnerabilities in products made by F5. The company did not respond to Reuters' requests for comment. Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, said in a statement he was not familiar with the situation, but that "China consistently opposes and combats hacking activities in accordance with the law, and we are even more opposed to the dissemination of false information for political purposes." The U.S. Cybersecurity and Infrastructure Security Agency, when contacted by Reuters, did not confirm whether the breach was carried out by Chinese state-backed hackers. "These same risks extend to any organization using this technology, potentially leading to a catastrophic compromise of critical information systems," CISA acting Director Madhu Gottumukkala said in a statement, without specifying who was behind the hack. The two people briefed on the investigation said the hackers were inside F5's network for more than a year.  (Reporting by Raphael Satter and AJ Vicens. Devika Nair, Gnaneshwar Rajan, and Nilutpal Timsina provided additional reporting; Editing by Sumana Nandy, Rashmi Aich and Franklin Paul)

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By Maggie Fick and Stine Jacobsen LONDON/COPENHAGEN (Reuters) -Novo Nordisk has appointed U.S. pharmaceutical executive Greg Miley as its new head of corporate affairs, as the obesity drugmaker faces growing pressure from U.S. President Donald Trump on drug pricing. Miley recently served as senior vice president of government affairs at U.S. pharmaceutical giant AbbVie. He posted a statement on LinkedIn on Friday and Novo Nordisk shared the statement with Reuters. Novo is turning to an American executive with deep U.S. pharmaceutical experience to help navigate political risks under the Trump administration in the United States, its largest market. NEW HIRE TO FOCUS ON RELATIONS WITH TRUMP ADMINISTRATION The appointment comes as new CEO Mike Doustdar tries to revive investor confidence through a restructuring to sharpen Novo's focus in a fierce obesity drug battle against U.S. rival Eli Lilly. The overhaul includes cutting 9,000 jobs, with 5,000 positions being eliminated in Denmark and layoffs underway across multiple U.S. departments. "In this new role, I see great potential to strengthen our Global Communication and Public Affairs efforts," Miley wrote on LinkedIn, adding that he would begin his new role next month and would relocate to Denmark, Novo's home market. Miley's urgent priority will be improving Novo's relations with the Trump administration, said a source familiar with the matter who spoke on condition of anonymity to discuss confidential information. Novo’s top U.S. public affairs executive is Jennifer Duck, who joined the company in 2019 after working on the Democrat-led Senate Judiciary Committee and as chief of staff to Democratic Senator Dianne Feinstein. That background is not seen as the right fit under a Republican president, the source said. Novo did not immediately reply to a request for comment on these points. Other big pharmaceutical companies have hired public affairs experts with long backgrounds in Republican circles in order to navigate the administration's pressures on the industry, a source at a European drugmaker told Reuters on Friday. TRUMP SAYS OZEMPIC PRICE IN US WILL BE LOWERED Shares of Novo and Lilly fell on Friday after Trump said that the price of Novo's Ozempic diabetes treatment would be lowered. Ozempic contains the same active ingredient as its weight-loss drug Wegovy. Miley spent the past decade at AbbVie in Chicago and was promoted two years ago to senior vice president of government affairs, according to his LinkedIn profile. He has worked in the pharmaceutical industry since 2004, building his career at U.S. drugmakers including more than four years in public affairs at Abbott and nearly five years at Pfizer. AbbVie did not immediately reply to a request for comment. Miley did not reply when contacted by Reuters earlier on Friday. (Reporting by Maggie Fick in London and Stine Jacobsen in Copenhagen, Editing by Louise Heavens, Kirsten Donovan)

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By AJ Vicens (Reuters) -Envoy Air, American Airlines' largest regional carrier, suffered a hack in recent days as part of the wave of extortion attempts from hackers exploiting Oracle E-Business Suite applications, the company confirmed on Friday. A spokesperson for the Irving, Texas-based company, which operates more than 160 aircraft on 875 daily flights, said in an email that it is aware of the incident, and that the company is investigating and has contacted law enforcement.   “We have conducted a thorough review of the data at issue and have confirmed no sensitive or customer data was affected,” the spokesperson said. “A limited amount of business information and commercial contact details may have been compromised.” The company is the second entity to confirm it was hacked as a result of a campaign targeting Oracle E-Business Suite applications claimed by “CL0P,” a cybercriminal extortion group with a history of wide-ranging compromises against third-party software or service providers. CL0P listed American Airlines on its website as a victim late on Thursday. The timing of the attack was not clear.  CL0P did not immediately respond to a request for comment sent to an email address used by the group. An American Airlines spokesperson referred questions on the hacking to Envoy Air.  Experts at Google, a unit of Alphabet, said on  October 9 that “mass amounts of customer data” were stolen in an operation that may have begun as early as three months ago. Harvard University confirmed it had been attacked in a similar fashion earlier this week, according to cybersecurity news outlet the Record. (Reporting by AJ Vicens in Detroit; Editing by Matthew Lewis)

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By David Shepardson and Dan Catchpole WASHINGTON (Reuters) -Boeing can hike 737 MAX production to 42 planes per month after the Federal Aviation Administration lifted a 38 plane-per-month cap that had been in place since January 2024, the agency and planemaker said on Friday. The FAA imposed the unprecedented production cap shortly after a 2024 mid-air emergency involving a new Alaska Airlines 737 MAX 9 that was missing four key bolts. The announcement is a significant milestone for the U.S. planemaker, which was plunged into a safety crisis following the mid-air incident. The FAA said on Friday its safety inspectors "conducted extensive reviews of Boeing’s production lines to ensure that this small production rate increase will be done safely." FAA Administrator Bryan Bedford called Boeing CEO Kelly Ortberg on Friday to confirm the planemaker could raise the rate to 42 planes, a person briefed on the matter said. Boeing plans to quickly begin producing planes at a rate of 42 per month. Boeing said it appreciated "the work by our team, our suppliers and the FAA to ensure we are prepared to increase production with safety and quality at the forefront." (Reporting by David Shepardson;)

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WASHINGTON (Reuters) -Boeing can hike 737 MAX production to 42 planes per month after the Federal Aviation Administration lifted a 38 plane-per-month cap in place since January 2024, the agency and planemaker said on Friday. The FAA imposed the unprecedented production cap shortly after a 2024 mid-air emergency involving a new Alaska Airlines 737 MAX 9 missing four key bolts. The announcement is a significant milestone for the planemaker that was plunged into a safety crisis following the mid-air incident. (Reporting by David Shepardson; Editing by Chris Reese)

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By Dan Catchpole and Nathan Gomes (Reuters) -A union representing more than 3,200 striking Boeing workers who assemble fighter jets and munitions said on Friday it and the company had agreed to resume contract discussions with help from a federal mediator next week. The announcement came one day after the union filed an unfair labor practice charge with the National Labor Relations Board, accusing the company of not negotiating in good faith.  The 75-day-long strike has delayed deliveries of F-15EX fighters to the U.S. Air Force, General Kenneth Wilsbach told the Senate Armed Services Committee in comments submitted for his October 9 hearing on his nomination as the Air Force's chief of staff. AIR FORCE OPERATIONS AFFECTED The delayed F-15 deliveries "will impact" operations at the USAF's Portland Air National Guard Base, and delay the modernized fighter's first deployment overseas next year, he said in written comments. Members of the International Association of Machinists and Aerospace Workers (IAM) District 837 went on strike on August 4, after rejecting Boeing's second four-year contract proposal. The members work at Boeing Defense facilities in the St. Louis area. In September, they rejected a third offer with few differences from the previous offer.  Boeing management has said the aerospace company will not significantly improve its offer, and rejected a contract proposed by IAM leadership and overwhelmingly approved by union members. Instead, the company has expanded its plans to hire replacement workers. IAM officials and members previously told Reuters they think Boeing is bluffing, noting the necessary training and security clearances for new workers take as long as six months to get. The planemaker's stance on negotiations has drawn criticism from some senators, including Democrat Ed Markey and Republican Josh Hawley, who, along with Senator Bernie Sanders of Vermont, slammed the company during a committee hearing earlier this month. (Reporting by Nathan Gomes in Bengaluru and Dan Catchpole in Seattle; Editing by Pooja Desai and Rod Nickel)

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(Corrects spelling of board member's name in paragraph 2 to Knudstrop from Knudstorpand) (Reuters) -Long-term Starbucks shareholders have written to the company to resume talks with its workers' union to discuss staffing, wages and other issues, a letter posted on the New York City Comptroller's website on Thursday showed. The letter, signed by Comptroller Brad Lander, Trillium Asset Management, the Shareholder Association for Research and Education and Pensions Investment Research Consultants, was addressed to Starbucks' board members Jorgen Vig Knudstorp and Beth Ford and called on the company to reach a contract agreement with Starbucks Workers United. "We are concerned that Starbucks' labor relations have significantly deteriorated, as reflected by over one hundred Unfair Labor Practice complaints filed since the beginning of the year, in-store actions, partner walkouts and protests over store closings, and even strikes," the letter said. The New York City pension funds said they were the largest Starbucks stockholders within the group, with about 1.33 million shares. Starbucks did not respond to a request for comment. The union has been at odds with management for months. Talks between Starbucks and Starbucks Workers United, which represents more than 12,000 baristas, began in April last year but have since stalled. In December, union members staged multi-day strikes across several U.S. cities during the peak holiday season. "Over three years have passed since the first successful union election by Starbucks Workers United and yet no contract agreement has been reached," the letter said. The Starbucks' store in Buffalo, New York was the first company-owned location to unionize in the U.S. in December 2021. There are over 650 unionized Starbucks stores currently in the country, according to the SBWU's website. The SBWU republished excerpts from the shareholder letter on its website, without commenting further. Last month, Starbucks said it would shutter underperforming stores in North America, including its flagship unionized outlet in Seattle, as CEO Brian Niccol pushed ahead with a $1 billion restructuring aimed at reviving sales. (Reporting by Shubham Kalia, Mrinmay Dey and Juveria Tabassum in Bengaluru; Editing by Nivedita Bhattacharjee)

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(Reuters) -U.S. regional bank Fifth Third Bancorp reported a 14% jump in third-quarter profit on Friday on the back of robust fee income, but booked a $178 million loss related to the bankruptcy of auto dealer Tricolor.   Broad-based growth across Fifth Third's fee businesses lifted non-interest income to $781 million in the quarter, up 10% from a year earlier.   Wealth management and asset management fee revenue surged 11%, while mortgage banking fee revenue jumped 16%. Shares of the bank were up 1% in early afternoon trading. The stock had fallen 4.5% this year as of Thursday's close.    TRICOLOR LOSS While the broader U.S. economy has remained resilient, fears about credit quality at some regional banks, including Zions Bancorporation and Western Alliance, triggered a fall in U.S. bank stocks on Thursday. Fifth Third had disclosed last month it gave a $200 million asset-backed finance loan to Tricolor, which filed for bankruptcy last month and moved to liquidate its business. "We decided to disclose the potential loss as quickly as possible", Fifth Third CEO Tim Spence said in a phone interview. He said the bank is comfortable with its risk after a portfolio review and noted that profits increased even after the losses. Net charge-offs, or debts that are unlikely to be recovered, totaled $339 million in the quarter, including a $178 million loss related to the impairment of the loan to Tricolor.  INTEREST INCOME GROWTH Net interest income — the difference between what banks earn on loans and pay on deposits — rose 7% to $1.53 billion in the quarter, thanks to lower deposit costs and fixed-rate asset repricing. Earlier this month, Fifth Third struck a $10.9 billion all-stock deal to buy regional lender Comerica, the biggest U.S. bank transaction this year which will create the nation's ninth-largest lender. Spence said he expects the deal to close in the first quarter of 2026 and the integration to start generating savings in 2027. Fifth Third is now focused on the consolidation process and not looking for another deal, the CEO added. Fifth Third's profit jumped to $608 million, or 91 cents per share, in the three months ended September 30, compared with $532 million, or 78 cents per share, a year earlier.  (Reporting by Arasu Kannagi Basil in Bengaluru, additional reporting by Tatiana Bautzer in New York; Editing by Sahal Muhammed and Cynthia Osterman)

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By Stephen Culp NEW YORK (Reuters) -Wall Street stocks advanced and U.S. Treasury yields rebounded on Friday as investors assessed the health of regional banks and President Donald Trump said his face-to-face trade talks with Chinese President Xi Jinping were still on. All three major U.S. stock indexes closed in positive territory after struggling for direction in early trading, and all three notched weekly gains. Benchmark Treasury yields and the dollar turned higher, while gold pulled back after a record run sent the precious metal to all-time highs. Worries over potential systemic credit problems in the banking sector abated the day after Zions disclosed it would take a $50 million loan loss in the third quarter and Western Alliance initiated a lawsuit alleging fraud by an investment firm. The KBW Regional Banking index advanced 1.7% in a partial recovery from Thursday's 5.0% plunge. "It took a night to sleep on it, but some calm has come in over the probably overblown worries in the regional bank area," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "The truth is the financial sector is likely still on firm footing; just a couple companies had some bad news, but it's not systemic." Trade tensions between Washington and Beijing were calmed by Trump's assurances that his proposed 100% tariff on Chinese imports would not be sustainable. He confirmed he would meet with Chinese President Xi Jinping in two weeks in South Korea. "We've seen this movie before," Detrick added. "A week ago, President Trump was talking 100% tariffs and the market had its worst selloff in months and now today he's clearly putting some water on that fire, saying he and President Xi have a good relationship." The first official week of the third-quarter earnings season is in the books, with 58% of companies in the S&P 500 having reported. Of those, 86% have delivered stronger-than-expected results. Analysts now expect third-quarter S&P 500 earnings growth of 9.3% year-on-year, up from 8.8% as of October 1, according to LSEG data. The Dow Jones Industrial Average rose 238.37 points, or 0.52%, to 46,190.61, the S&P 500 rose 34.94 points, or 0.53%, to 6,664.01 and the Nasdaq Composite rose 117.44 points, or 0.52%, to 22,679.98. European stocks closed lower as signs of credit stress in U.S. regional banks dampened investor risk appetite, driving them to safe-haven assets. MSCI's gauge of stocks across the globe fell 0.21 points, or 0.02%, to 984.18. The pan-European STOXX 600 index fell 0.95%, while Europe's broad FTSEurofirst 300 index fell 20.72 points, or 0.91%. Emerging market stocks fell 16.86 points, or 1.22%, to 1,362.10. MSCI's broadest index of Asia-Pacific shares outside Japan closed lower by 1.24%, to 706.04, while Japan's Nikkei fell 695.59 points, or 1.44%, to 47,582.15. U.S. Treasury yields rose and the dollar strengthened as worries stemming from the escalating trade war and regional banks' credit quality ebbed. The greenback, however, remained on track for a weekly loss. The yield on benchmark U.S. 10-year notes rose 2.9 basis points to 4.005%, from 3.976% late on Thursday. The 30-year bond yield rose 1.7 basis points to 4.6005% from 4.583% late on Thursday. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 3.3 basis points to 3.459%, from 3.426% late on Thursday. The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.16% to 98.42, with the euro down 0.15% at $1.1669. Against the Japanese yen, the dollar strengthened 0.04% to 150.48. Oil prices inched higher but lost ground on the week amid the fog of global supply uncertainty. U.S. crude rose 0.14% to settle at $57.54 per barrel, while Brent settled at $61.29 per barrel, up 0.38% on the day. Gold prices pulled back from record highs, pressured by a firmer dollar. Spot gold fell 2.19% to $4,230.60 an ounce. U.S. gold futures fell 1.3% to $4,224.60 an ounce. (Reporting by Stephen Culp; Additional reporting by Ian Withers and Stella Qiu; Editing by Nia Williams and Nick Zieminski)

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