Morning Juice – US Session Prep (24th April)

Sentiment
Tech stocks moved higher after strong updates from Intel and SAP, helping Nasdaq 100 futures rise 0.8% and keeping the index on track for a fourth straight weekly gain. Intel jumped 29% in premarket trade after issuing a strong sales outlook, while TSMC rose 5% in Taipei after regulators eased restrictions on single-stock fund holdings. SAP also gained 5.6% in Europe, helping calm some of the recent concerns that AI could disrupt parts of the software sector.

Outside tech, the broader tone was more cautious. S&P 500 futures were choppy, with the index heading for its first weekly decline since March, while the Stoxx 600 fell 0.8%, led lower by autos and retail as investors worried that the Middle East war could have a longer-lasting impact on consumer sentiment.

Oil remained the key macro pressure point. Brent rose for a fifth straight day, pushing above $107 a barrel as the US and Iran remained far apart on how to move forward with talks. The dollar was little changed and Treasury yields were broadly steady, but markets remain highly sensitive to any update on diplomacy or shipping through the Strait of Hormuz, with further disruption likely to keep energy prices elevated.

Docket
08:30 ET
Canadian Retail Sales for February
MoM – Forecast: 0.9% | Prior: 1.1% | Range: 1% / 0.5%
Core MoM – Forecast: 0.8% | Prior: 0.8% | Range: 1% / 0.4%

10:00 ET
University of Michigan Survey April Final
Sentiment – Forecast: 48.5 | Prior: 47.6 | Range: 50.8 / 47
1-Year Inflation – Forecast: 4.8% | Prior: 4.8% | Range: 4.8% / 4.6%
5-Year Inflation – Forecast: 3.4% | Prior: 3.4% | Range: 3.5% / 3.3%

Good luck!