What Changed in the OpenAI–Microsoft Deal?

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth Management, briefs you on what’s the signal, and what’s just noise in the markets. This week - in the absence of the October employment report (a key macro signal) because of the ongoing government shutdown, any indicators as to the health of the U.S. labor market. Recorded on 2 November 2025.