THE WEEKLY STEEP
🪔 Happy Diwali! May your homes shine with light, your tables with sweetness, and your hearts with gratitude. This season, share your spark, lift it high, and let’s light up the sky together. 🌙☕️
WHAT’S BREWING
U.S.: The shutdown hit week three, draining billions. The Supreme Court weighed Voting Rights curbs, John Bolton was indicted, and a storm neared hurricane strength. In the Oval Office, Trump and Zelenskyy met in a measured session with aid unresolved and Budapest talks ahead. Trump also raised tariffs on China and warned Venezuela after new U.S. deployments in the Caribbean.
Shutdown: Week 3 drags on; “No Kings 2” protests Oct 18. Read More
Bolton: Former Trump adviser indicted. Read More
Supreme Court: Justices weigh curbs on Voting Rights Act. Read More
Weather: NHC tracks system that may become Hurricane Melissa. Read More
Ukraine: Trump, Zelenskyy meet; aid unresolved. Read More
Venezuela: Maduro mobilizes army and militias. Read More
China: Trump imposes 100% tariffs, calls them “unsustainable.” Read More
Global: Ceasefires in Gaza and along the Pakistan-Afghanistan border remained fragile as Moscow convened an energy summit with OPEC+ and Asian leaders. Protests roiled Peru, a coup overturned Madagascar’s government, and London absorbed a royal rupture as Prince Andrew relinquished his titles.
Russia-U.S.: Trump, Putin set for Budapest summit after call. Read More
Gaza: Trump warns Hamas U.S. may “finish them.” Read More
Argentina: U.S. backs $20B swap to rescue Milei’s peso. Read More
Peru: Deadly riots greet new President Jerí; emergency looms. Read More
Madagascar: Military coup installs Randrianirina. Read More
Energy: Russia hosts summit with OPEC+ and Asian leaders. Read More
UK Monarchy: Prince Andrew renounces all titles. Read More
South Asia: India-Bangladesh ties frayed after deaths at the Tripura border. In Delhi, Sri Lankan PM Amarasuriya pledged no threats from Lankan soil while deepening tech and education links. Pakistan extended a fragile ceasefire with Afghanistan even as IMF pressures mounted. Across the region, democratic institutions appear strained and economic growth faces headwinds.
The Scene: From Ed Sheeran singing his first Hindi lines with Jonita Gandhi on the romantic track Heaven to All That Glitters transforming New York’s Palace into a jeweled runway, the week shimmered with crossover moments. Harrods lit its London façade in saffron and gold for the first time, Cartier’s Fifth Avenue bloomed with marigolds, and across America mayors went viral dancing to Bollywood beats as Diwali firmly staked its place on the U.S. cultural calendar. 🪔 Coming up: Chandrika Tandon will host a Diwali celebration with Indian students at the Consulate General of India in New York on October 24.
MONEY MOVES
Global markets balanced record tech investments with rising debt concerns and cautious central banks. Google announced its largest overseas investment in India, Wall Street rode an AI surge, and the IMF raised growth forecasts even as warnings mounted on inflation, deficits, and automation-driven layoffs.
AI & Markets: $NVDA ( ▲ 0.78% ) tops $4.4T, $AMD ( ▼ 0.63% ) strikes OpenAI chip deal, $META ( ▲ 0.68% ) invests over $114B in AI.
Fed & Economy: IMF lifts U.S. growth forecast to 2.0% in 2025; Powell signals more rate cuts despite shutdown-delayed data.
Debt Alarm: U.S. debt climbs past $37.8T with $1.2T in annual interest; JPMorgan warns America is “going broke slowly.”
Jobs & Automation: IMF warns 60% of jobs could be disrupted by AI; Nestlé to cut 16,000 positions in shift to automation.
India Growth: IMF projects India at 6.6%, fastest among G20; RBI holds repo at 5.50%.
Google India: $15B pledged for Visakhapatnam AI hub (2026-30), Google’s largest investment outside the U.S., with Adani and Bhartel as partners.
Garam Chai: One more thing…Formula 1. $AAPL ( ▲ 1.96% ) just locked in a five-year U.S. streaming deal worth over $700M.
Market data via Stocktwits. Consult a financial advisor before investing.
PLAY BY PLAY
NBA: 2025-26 season opens Oct 21. Thunder raise banner vs. Rockets (with new addition Kevin Durant), Lakers face Warriors without LeBron.
Cricket: India dominated the West Indies in a two-Test series, winning by an innings and 140 runs in Ahmedabad and by 7 wickets in Delhi. In the UAE, Bangladesh sparkled with a 3-0 T20I sweep over Afghanistan, but the Afghans roared back to take the ODI series 3-0.
F1 Austin: Piastri leads title fight as McLaren clinch Constructors’; U.S. Grand Prix runs Oct 17-19 under “heat hazard” rules.
RAISING ROOTS: From Diwali to Thanksgiving
Pumpkins, turkeys, and now rows of diyas. America’s autumn glows brighter than ever. Diwali is no longer just at home, it’s on calendars, in schools, and in the streets. Above all, light, gratitude, and joy stand side by side. Read more
LIVING WELL: 🪔 Your Key to Light ✨
This Diwali, The Weekly Chai is hosting a Festival of Lights treasure hunt. Share your spark, unlock your lantern, and gather hidden keys along the way. How to Play
Invite 3 friends to join The Weekly Chai by Oct 24 to unlock your lantern.
Each Friday (Oct 24, Oct 31, Nov 7, Nov 14), collect a hidden key in the newsletter.
On the week of Thanksgiving, combine the keys into the final phrase and email to [email protected].
Along the way: sparks may surprise you. Shout-outs, gifts, maybe something unexpected and the grand prize a ‘glowing surprise’!
COSMIC CHAI: Weekly Horoscope (Oct 17-24)
Light returns, balance resets.
This week is Diwali in the skies and on the calendar. Dhanteras (Oct 18) opens prosperity, Diwali night (Oct 20) burns away the old, and the Libra New Moon (Oct 21) writes new chapters in love and harmony. Bhai Dooj + Gujarati New Year (Oct 22) seal the cycle with family and fresh beginnings. Guidance: Celebrate, reset, and let devotion turn into renewal. 🪔✨ Full Horoscopes
Oct 18: Dhanteras → wealth, prosperity, auspicious beginnings.
Oct 20: Diwali (Lakshmi Puja) → light over darkness, family, renewal.
Oct 21: Libra New Moon → fresh cycles for love, balance, and harmony.
Oct 22: Bhai Dooj + Gujarati New Year → sibling ties, collective new beginnings.
EDITOR'S PICK: Key to Light Treasure Hunt
This Diwali, we’re weaving sparks into something bigger. Every referral is a light shared, every clue a lantern glowing in the dark. By Thanksgiving, the true prize is a circle of light we’ve built together, a community glowing brighter with every spark.
UPCOMING WEEK
Oct 18: Sweetest Day (Midwest & Northeast U.S.) · Dhanteras (Diwali festival)
Oct 19: National New Friends Day · Narak Chaturdashi (Diwali festival)
Oct 20: Lakshmi Puja & Diwali/Deepavali (Festival of Lights)
Oct 21: Back to the Future Day