Morning Juice - US Session Prep (25th April)

Sentiment
US stock futures fell after three days of gains on Wall Street, as investors faced a mixed picture of tech earnings and trade negotiations.

S&P 500 futures fell 0.2%, reversing a 0.8% gain. Intel fell more than 6% in premarket trading following the chipmaker’s lower-than-expected forecast.
Alphabet surged after reporting earnings that exceeded expectations.

The dollar strengthened, while the yen and Swiss franc fell as investor demand for non-US haven assets dwindled. Gold dropped 1.5%. Treasuries increased their gains from Thursday.

On the trade front, there have been reports that China is considering suspending its 125% tariff on certain US imports.
Later, Foreign Ministry spokesman Guo Jiakun reiterated that China is not in tariff negotiations with the United States, underscoring the complexities for investors following headlines from Washington and Beijing.

Traders were encouraged by the possibility that the Federal Reserve would lower interest rates sooner than expected. Markets currently expect a quarter-point cut in June and three such cuts by year-end.

Fed’s Waller said that he would support rate cuts if aggressive tariffs imposed by Trump’s trade policies hurt the jobs market. Fed’s Hammack told CNBC that if there is clear evidence of the economy’s direction, the central bank could raise interest rates as early as June.

Docket
08:30 ET
Canadian Retail Sales MoM for February
Forecast: -0.4% | Prior: -0.6% | Range: -0.1% / -0.6%

Speakers
15:15 ET
BoE’s Greene speaks in a fireside chat with the Atlantic Council in New York. The event will be on “inflation, growth and monetary policy.”

Good luck, and have a good weekend!