Morning Juice – US Session Prep (18th February)

Sentiment
US equity futures rebounded as investors bought into recent weakness following volatility tied to AI concerns.
S&P 500 futures rose 0.5%, setting the benchmark up for its strongest gain in over a week if sustained.
In Europe, the Stoxx 600 climbed 0.9% to a record high, helped by solid earnings from names including BAE Systems and Puig.
Gold moved back above $4,900 an ounce as precious metals recovered, while Bitcoin held steady.

After months of AI-fueled gains, markets have turned more cautious as investors question how quickly heavy spending will translate into profits.
The recent US pullback has also prompted a rotation abroad, with European and Asian equities outperforming the S&P 500 so far this year.

In FX, the dollar edged higher against most major peers.
The euro slipped slightly following a report that ECB President Christine Lagarde may leave before her term ends in 2027, though an ECB spokesperson said no decision has been made.
Bonds weakened modestly, with the US 10-year yield up one basis point to 4.07%.

Docket
08:30 ET
US Durable Goods Orders for December 
Forecast: -2.0% | Prior: 5.3% | Range: 2.4% /  -5.1%

09:15 ET
US Industrial Production MoM for January
Forecast: 0.4% | Prior: 0.4% | Range: 0.8% / -0.2%

14:00 ET
FOMC Meeting Minutes 

Speakers
12:00 ET
ECB’s Schnabel speaks in Berlin on Debt Loads

13:00 ET
Fed’s Bowman speaks about supervision and regulation at the Exchequer Club, in Washington DC..
Live event. Q&A expected with a moderator. No Text

13:00 ET
White House Press Briefing with Press Sec. Leavitt

14:10 ET
RBNZ Gov. Bremen speaks at a finance & expenditure select committee

16:00 ET
Trump participates in Signing Time
[Closed Press]

16:30 ET
Trump participates in a Policy Meeting
[Closed Press]

Earnings
16:05 ET
EBay Q4 2025 Earnings
Estimated Revenue: $2.87Bln
Estimated EPS: $1.35

Good luck!