The Morning Briefing: October 26, 2026

Here is what moved overnight and what to watch today, Monday, October 26, 2026.

Lula wins Brazil runoff as Bolsonaro refuses to concede

Brazilian President Luiz Inacio Lula da Silva won reelection on Sunday, taking 51.8 percent of the vote in the runoff against Senator Flavio Bolsonaro, according to Brazil’s electoral court. Lula led by about 4.4 million votes and will serve a fourth, non-consecutive term starting January 5, 2027. Bolsonaro had led Lula in the first round on October 4, but neither candidate won outright, which sent the race to a runoff.

Bolsonaro said he would not accept the result and would ask for the election to be annulled, pointing to a last-minute decision to extend voting by two hours amid bad weather and transport problems. Reports said both campaigns had requested the extension. In his victory speech in Sao Paulo, Lula said, “People went to vote because we convinced them it was important to preserve democracy,” and added, “This country doesn’t accept being anybody’s colony.” Read our full report on Lula’s win, and Bolsonaro’s refusal to concede.

Midterms enter final week with Trump on the trail in Mississippi

The United States midterm elections are eight days away, with voting set for November 3. President Donald Trump voted in person in Palm Beach County, Florida, on Saturday alongside first lady Melania Trump, then traveled to Georgia for a campaign rally. On Sunday he campaigned in Port Huron, Michigan, for Republican Senate candidate Mike Rogers, and on Monday evening he is scheduled to speak in Corinth, Mississippi, for Senator Cindy Hyde-Smith.

More than 18 million Americans had voted early by October 22, according to an October 22 snapshot from ElectionTracker. A Reuters/Ipsos poll cited on October 20 put Trump’s approval at 31 percent, with voters naming the cost of living as the top issue in the race. Democrats need a net gain of four seats to take control of each chamber of Congress. Read our report from the Port Huron rally.

U.S. forces ready for Iran strikes within days of an order, report says

U.S. forces are prepared to launch large strikes against Iran within 96 hours of an order from Trump, CNN reported, citing sources familiar with planning. The report lands as tensions between Washington and Tehran remain high, with U.S. naval and air assets positioned in the region and oil prices still elevated after last week’s surge.

Trump has said in recent weeks that the United States would not attack Iran before the November 3 midterms, citing what he called productive discussions. No strike order has been reported. Read our full report on the strike readiness claim.

Markets face a Fed decision and Big Tech earnings

U.S. stock futures ticked higher on Monday morning as crude oil prices pulled back from last week’s surge. At 5:19 a.m. ET, Dow futures were up 257 points, S&P 500 futures were up 23.25 points, and Nasdaq 100 futures were up 73 points, Reuters reported. Brent crude settled at $116.72 a barrel on Friday, its highest close since late April, and eased to $114.80 in early Monday trade.

About one-third of S&P 500 companies report earnings this week, including Alphabet, Microsoft, and Amazon. Traders will watch those results for signs that heavy spending on artificial intelligence is paying off, after Meta fell last week when it raised its annual AI spending forecast again and said it would sell new stock to help pay for it. The Federal Reserve also meets this week. The final University of Michigan consumer sentiment reading for October rose to 48.0, still a five-month low, with one-year inflation expectations at 4.7 percent.

Ukraine points to November talks as strikes hit power sites

Ukrainian President Volodymyr Zelenskiy said the United States, Ukraine, and Russia are expected to hold three-way talks in November. Kremlin spokesman Dmitry Peskov confirmed officials are preparing for the meeting, which reports place in the United Arab Emirates. Zelenskiy said talks between technical groups could come first, while territorial questions can only be settled at the level of leaders.

The announcement came as Russian strikes injured six people overnight, four in Zaporizhzhia and two in the Chernihiv region, according to Ukrainian officials cited by Reuters. Russia’s defense ministry said it hit a power station in Kharkiv, another in the Khmelnytskyi region, port infrastructure in Chornomorsk, and a cargo vessel bound for Odesa. Russia’s FSB security service also said it arrested two men accused of preparing a drone attack on a Moscow air defense site. Ukraine had not commented on that claim in the reports reviewed.

A Sunday of comebacks in the NFL, and a 2-0 World Series lead for Milwaukee

Cincinnati trailed Baltimore 13-0 at halftime on Sunday and won 35-13, scoring five second-half touchdowns. Quarterback Joe Burrow threw for 292 yards and four touchdowns in the second half surge. In Las Vegas, the Los Angeles Rams beat the Raiders 35-21, and Matthew Stafford set a Rams record with his 155th touchdown pass for the franchise. Read our report on Stafford’s record night.

Miami beat the New York Jets 28-25 for its first win of the season, and Denver beat Arizona 30-16. In baseball, Milwaukee holds a 2-0 World Series lead over Tampa Bay after rallying from 4-0 down to win Game 2 by 5-4. Read our report on the Brewers comeback.

Reporting based on coverage by Reuters, USA Today, CNN, and the Associated Press, with internal reporting from US News America.