📆 Tuesday, October 22
► European stocks declined, with the Stoxx 600 edging lower by over 0.2%. Investors are cautiously navigating corporate earnings and the rate outlook. Germany’s SAP rose by as much as 5.6% on strong quarterly results, providing a positive counterbalance to the overall mixed earnings season. Nearly 47% of MSCI Europe companies reported earnings below expectations. Meanwhile, Germany's 10-year yield rose 4 basis points to 2.32%, reflecting broader market concerns.
► US utures declined, with the S&P 500 dipping 0.2%, poised for its first consecutive drop in six weeks as traders reassess the pace of potential Fed rate cuts. Treasury yields climbed, with the 10-year yield rising 3 basis points to 4.21%, extending gains on Monday. Investors are also weighing the inflationary effects of a possible Trump election win, which could lead to looser fiscal policy and increased tariffs, potentially pushing inflation higher.
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