US Stocks Steady Near Records & Oil Volatility Persists - Europe Market Wrap
US stock futures were little changed on Monday, with the S&P 500 hovering near record highs as investors weighed expectations for strong corporate earnings against escalating tensions in the Middle East. Brent crude fluctuated amid renewed concerns over Houthi attacks on Saudi Arabia from Yemen, while traders assessed Trump's claim of an "energy ceasefire" between Russia and Ukraine. Treasury futures edged lower, with US cash bond markets closed for Columbus Day. French yields rose amid political uncertainty over fiscal policy, while the Dollar was little changed. Bitcoin largely held gains following a three-day rebound, with crypto-related stocks outperforming in early US trading. Wall Street's largest banks are set to kick off earnings season on Tuesday, with JPMorgan and Citigroup among those reporting. The major banks are expected to deliver approximately $19 billion in quarterly stock-trading revenue. AI will also remain in focus, with ASML and TSMC scheduled to report later in the week. Investors are increasingly relying on strong earnings to support equity valuations following weeks of elevated oil prices and global bond yields reaching their highest levels in decades. Upcom
US stock futures were little changed on Monday, with the S&P 500 hovering near record highs as investors weighed expectations for strong corporate earnings against escalating tensions in the Middle East. Brent crude fluctuated amid renewed concerns over Houthi attacks on Saudi Arabia from Yemen, while traders assessed Trump's claim of an "energy ceasefire" between Russia and Ukraine. Treasury futures edged lower, with US cash bond markets closed for Columbus Day. French yields rose amid political uncertainty over fiscal policy, while the Dollar was little changed.
Bitcoin largely held gains following a three-day rebound, with crypto-related stocks outperforming in early US trading. Wall Street's largest banks are set to kick off earnings season on Tuesday, with JPMorgan and Citigroup among those reporting. The major banks are expected to deliver approximately $19 billion in quarterly stock-trading revenue. AI will also remain in focus, with ASML and TSMC scheduled to report later in the week.
Investors are increasingly relying on strong earnings to support equity valuations following weeks of elevated oil prices and global bond yields reaching their highest levels in decades. Upcoming US inflation data and a speech from Fed Chair Powell will help shape interest-rate expectations, with money markets currently pricing another Fed rate hike by December. 4% in August and marking the largest monthly increase in five months. 2% m/m, easing from the previous month.