📆 Wednesday, October 23
► European stocks are extending recent losses with the Stoxx 600 trading 0.25% lower, reflecting caution amid a busy earnings day. Deutsche Bank shares fell despite the bank returning to profitability in Q3, posting an EPS of €0.81 (vs €0.60 expected) and revenues of €7.5 billion. Corporate giants like AkzoNobel, Heineken, and Roche are set to report earnings. France’s CAC40 (-0.5%), Germany’s DAX40 (-0.15%), UK's FTSE100 (-0.25%) are are all trading in the red.
► US stock futures pointed to slight declines as markets awaited earnings reports from Tesla, Boeing, and Coca-Cola. S&P 500 futures traded relatively flat (- 0.1%), while Nasdaq futures traded lower by over 0.15% (Dow Jones at -0.35%). Concerns over rising yields, with 10-year Treasuries pushing past 4.2%, continue to weigh on sentiment. Investors are growing cautious, as Federal Reserve officials signal a slower pace of rate cuts amid concerns that inflation could reaccelerate.
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