Morning Juice – US Session Prep (23rd October)

Sentiment
US futures remained steady, and European stocks hovered near a record high as third-quarter earnings continued to come in. Crude oil prices rose to a two-week high after US President Donald Trump imposed sanctions on Russia’s largest producers.

Futures for the S&P 500 and Nasdaq 100 were little changed. Tesla fell in premarket trading after earnings missed expectations despite a sales surge. International Business Machines fell sharply following disappointing results.

Earnings have been broadly positive thus far, helping to support equities as a combination of macroeconomic concerns injected a nervousness into global markets.
The Trump administration has stated that it is considering limiting software exports to China, risking further escalation of the trade dispute.

Gold rebounded after two days of steep declines, as the Trump administration’s latest trade threats sparked new tensions in US-China relations.
The yield on 10-year Treasuries rose four basis points.
The dollar index remained steady.

Traders are also hoping for another Federal Reserve interest rate cut later this month, despite the fact that September inflation data is expected to be delayed until Friday.

Brent crude rose more than 5% to above $65 per barrel after the US blacklisted state-run Russian giants Rosneft and Lukoil, threatening supplies and potentially disrupting global trade flows.
The European Union also imposed new sanctions against Russia’s energy infrastructure. Refinery executives in India, a major purchaser of Russian crude, said the restrictions would disrupt flows.

Docket
08:30 ET
Canadian Retail Sales for August
MoM – Forecast: 1% | Prior: -0.8% | Range: 1.9% / -0.5%
Core MoM – Forecast: 1.3% | Prior: -1.2% | Range: 2.2%  / -0.1%

US Weekly Jobless Claims
[On hold due to US government shutdown]

10:00 ET
US Existing Home Sales for September
Forecast: 4.06M | Prior: 4M | Range: 4.2M / 3.94M

13:00 ET
US sells $26 bln 5-Year TIPS
Prior High Yield: 1.650%
Prior Bid-to-cover: 2.53

Speakers
09:00 ET
BoE’s Dhingra’s text of speech delivered at a Central Bank of Ireland conference is released.

13:00 ET
White House press briefing with Press Sec. Leavitt.

15:00 ET
Trump Makes an Announcement.

Earnings
16:05 ET
Ford Q3 2025 Earnings
Est. EPS $0.36
Est. Rev $43.7B

Good luck!