📆 Tuesday, October 8
► European stocks slid today, with the Stoxx 600 index down over 0.8%, driven by declines in sectors heavily tied to China, such as luxury and mining stocks. Brands like Kering and Burberry slumped over 5%, reacting to China’s lack of significant new stimulus measures. France’s trade balance deteriorated in August, as exports fell more than imports, resulting in a deficit of €6.7 billion. Investors continue to digest the impact of slowing global trade and weakening economic conditions in Europe.
► Wall Street is still reeling from Monday’s tech-driven selloff, with US equity futures showing only minor movements. The Wall Street futures are steady, while rising Treasury yields (yesterday) and geopolitical tensions in the Middle East weigh on investor sentiment. The recent strength in US labor markets has decreased the likelihood of large rate cuts from the Federal Reserve, adding to market caution. Key corporate earnings are expected this week from major companies like PepsiCo later today and JPMorgan, Wells Fargo on Friday.
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