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The Morning Briefing: November 10, 2026

Talks on Ukraine open in Abu Dhabi, Trump says the Iran war is 'effectively over' militarily, Wall Street posts its best day since April, and California voters reject the billionaire tax.

By admin Nov. 10, 2026 · 6:58 AM ET 4 min read

Glass office towers along the Abu Dhabi waterfront at dusk, their lights reflected in calm water.

Good morning. American, Russian and Ukrainian negotiators open talks in Abu Dhabi today, President Donald Trump says the war with Iran is “effectively over” militarily, and Wall Street posted its best day since April. Here is what to know.

Ukraine talks open in Abu Dhabi

A fresh round of talks between the United States, Ukraine and Russia opens in Abu Dhabi on Tuesday, the first such meeting since February. U.S. special envoy Steve Witkoff and Jared Kushner lead the American delegation, Rustem Umerov leads the Ukrainian side, and Vladimir Medinsky leads the Russian delegation. Witkoff said the agenda covers postwar security arrangements, de-escalation and humanitarian issues.

European officials are also in the capital for separate meetings, though the Kremlin says the talks are trilateral and has objected to a European role. The talks open a day after both sides traded long-range strikes, with Ukraine seeking an energy ceasefire and a Black Sea truce and Russia showing no sign of giving ground on territory. Read our earlier report on the strikes before the talks.

Trump says the Iran war is “effectively over”

President Donald Trump said on Monday that the war with Iran is “effectively over” militarily, hours after meeting Qatar’s prime minister at the White House, but he said the United States will keep its naval blockade in place and stay “locked and loaded” if fighting resumes. Read our full report on Trump’s remarks.

Trump said he decided against new strikes after his talk with Sheikh Mohammed bin Abdulrahman Al Thani, and said Qatar, Saudi Arabia, the UAE, Bahrain and Kuwait prefer the status quo. He also announced Operation Iron Gate, an effort to cut Iran’s land trade routes. The war began on February 28 with U.S. and Israeli strikes, and the Pentagon put the cost to the U.S. military at more than $47 billion as of October 16. Iranian officials rejected the claim that the war is over while the blockade and sanctions remain.

Stocks post best day since April as Nvidia falls

The New York Stock Exchange building on Wall Street in the morning, with the American flag flying above its columns.

The Dow Jones Industrial Average rose 1,104 points, or 2.15%, to 52,389.75 on Monday, the S&P 500 gained 2.35% to 7,549.94 in its best day since April, and the Nasdaq Composite rose 2.74% to 25,253.14. Oil prices fell further, easing inflation worries ahead of the October consumer price report due today.

Nvidia sat out the rally, falling 4.27% to $178.67 after its board opened an independent investigation into reports around chief executive Jensen Huang. AMD rose 13.26% and Broadcom added 8.8%. Read our earlier report on Nvidia and the Huang investigation. Futures were higher early Tuesday, with Nvidia up about 1.3% in premarket trading, Reuters reported.

California voters reject the billionaire tax

California voters rejected Proposition 40, a one-time 5% tax on the wealth of residents worth more than $1 billion, the Associated Press called on Monday. With about 83% of the expected vote counted, 52.8% voted no and 47.2% voted yes.

Backers, led by the healthcare workers’ union SEIU-United Healthcare Workers West, said the tax would raise about $100 billion over five years, mostly for healthcare. Opponents spent about $378 million against it, more than ten times the $33.5 million raised by the yes side, including $102 million from Google co-founder Sergey Brin. Gov. Gavin Newsom opposed the measure. A companion measure, Proposition 42, which would bar new state wealth taxes, led 51.6% to 48.3% but had not been called.

Supreme Court lets border wall work resume in Big Bend

The Supreme Court granted an emergency request from the Trump administration, clearing the way for border wall construction in Big Bend National Park in southwest Texas. Read our full report on the court’s order.

Bills grind past Vikings, 23-6, on Monday night

American football players in dark uniforms seen from behind on a stadium field under floodlights at night.

James Cook ran 31 times for 107 yards and a touchdown as the Buffalo Bills beat the Minnesota Vikings 23-6 on Monday night in Minneapolis. Josh Allen threw for 234 yards and a touchdown, and the Bills held the ball for 42 minutes and 32 seconds.

The win moved Buffalo to 7-1, the best record in the AFC, and matched the Bills’ best eight-game start since 1993. Minnesota fell to 6-2 with a second straight loss; Carson Wentz completed 8 of 25 passes for 81 yards and two interceptions. The Chicago Bears lead the NFC North after the Vikings’ loss.

Reporting based on coverage by CNN, Reuters, the Associated Press, USA Today, the New York Post and TechCrunch.

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