CNBC Daily Open: Diesel deal may not be enough to curb high energy prices

Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.

U.S. President Donald Trump's diesel deal with Russia may not be able to do enough to significantly reduce fuel prices.

Bank of America was hit with more than $1.2 billion in federal penalties, while other U.S. banks like JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup are posting mixed financial results.

Anthropic will release its third-quarter financials for the first time, and Apple has announced a voice-controlled smart home hub.

Analysts are expressing skepticism over Trump's diesel deal with Russia, as the supply of 4.8 million metric tons — which amounts to a little more than a single day of global demand — is unlikely to reduce fuel prices significantly for U.S. truckers and farmers.

The deal comes as President Trump is under pressure to lower fuel prices, with the U.S. midterm elections less than a month away.

Meanwhile, oil may rally another $20-$25 due to the Iran conflict, hedge fund manager and notable commodity trader Paul Tudor Jones said on on CNBC's "Squawk Box."

Moving over to markets, U.S. banks like JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup are posting mixed financial results amid concerns including growing borrowing costs, AI and high oil prices.

Bank of America, which will be reporting its earnings on Wednesday, was hit with more than $1.2 billion in federal penalties for allegedly violating sanction and anti-money laundering laws.

Investors are keeping a close eye on the outlook of interest rates, after New York Federal Reserve President John Williams' recent comments put him at odds with the broader market and some other central bank members.

Moving over to tech, AI giant Anthropic, which is preparing for what could be the largest IPO in history, will release its third-quarter financials for the first time in a meeting with potential investors on Wednesday.

Meanwhile, Apple announced HomeView, which will function as a voice-controlled smart home hub for Apple devices that will showcase new Siri AI abilities. This marks CEO John Ternus' first launch — outside of iPhones — since he took over from Tim Cook.

The International Monetary Fund and World Bank Annual Meetings shifted into a higher gear on Day 3 in Bangkok, with Bank of France Governor Emmanuel Moulin and Bank of England Governor Andrew Bailey joining the conversations.

The IMF raised its global growth forecast to 3.1% for 2026 on Tuesday, up slightly from its July forecast. Even so, Economic Counsellor Silvana Tenreyro said global resilience is "under strain," with risks tilted to the downside.

Ben Hung, president of International at Standard Chartered Bank, will join CNBC for an exclusive interview on Wednesday, followed by Citi's chief client officer David Livingstone.

— CNBC's Anniek Bao also contributed to this newsletter