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Tuesday, October 14, 2025
What’s happening: US stocks settled sharply higher on Monday after plummeting in the previous session.
What happened: The S&P 500 recorded its biggest single-day decline since April on Friday, following US President Donald Trump’s warning to China about outsized tariffs.
Investor risk sentiment improved at the start of the new week on Trump’s softer tone over the weekend.
Why it matters: President Donald Trump indicated on Friday that he would not meet China’s President Xi Jinping in South Korea as scheduled. Washington also warned of a massive rise in tariffs on imports from China after Beijing announced plans to tighten export controls on rare earths.
The renewed concerns resulted in the Nasdaq 100 and S&P 500 recording their sharpest weekly declines in months.
However, US Treasury Secretary Scott Bessent said in an interview on Monday that Trump was on course to meeting China’s President and both countries were looking to de-escalate the ongoing trade tensions.
Over the weekend, Trump said he believes “all be fine” with China. On Sunday, Beijing accused the US of escalating the situation but did not announce any countermeasures.
The tech sector was among the top performers on Monday, with Nvidia’s shares gaining around 2.5% and Oracle’s stock surging about 6%.
Shares of Broadcom jumped around 10% on Monday after the company announced a partnership with OpenAI to produce its first in-house AI processors. This also helped the semiconductor index record a sharp gain, providing a further boost to the tech-heavy Nasdaq 100.
The S&P 500 consumer discretionary sector also climbed around 1.9% on Monday, with shares of Tesla and Amazon adding 2% and 3%, respectively. Stocks of consumer staples bucked the overall market trend, falling 0.7%.
The Dow Jones index added 569.80 points, or 1.25%, to close at 46,050.01, while the S&P 500 surged 1.52% to 6,652.07 on Monday. The Nasdaq 100 also jumped 448.05 points, or 2.03%, to settle at 22,655.47.
What to watch: Investors will focus on the start of the earnings season this week, with big US banks, including Goldman Sachs, JPMorgan Chase, Citigroup and Wells Fargo, all set to report their quarterly results.
This season will prove insights into the state of the economy at a time when major economic reports continue to be delayed amid the US government shutdown.
Context: The EUR/USD forex pair rose this morning amid weakness in the US dollar.
Details: Data released on Monday showed that Germany’s current account surplus shrank to €8.3 billion in August, from €15.4 billion in the year-ago period, due to weakness in exports. The goods surplus declined to €10.6 billion, from €17.2 billion in the same month last year, while exports fell 5.8% to €99.2 billion and imports rose 0.6% to €88.6 billion.
Wholesale prices in Germany surged 1.2% year-over-year in September, following a 0.7% gain in the previous month. This marked the fastest growth since March.
Trump unexpectedly softened his tone on China, after announcing an additional 100% tariff on Friday. Meanwhile, France’s President Emmanuel Macron announced a new cabinet lineup, reappointing Prime Minister Sébastien Lecornu in a bid to contain rising political crisis in the region.
Weakness in the US dollar lent support to the EUR/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell around 0.1% to 98.89 this morning.
The EUR/USD pair fell around 0.4% to 1.1572 this morning, while the STOXX Europe 600 Index gained 0.44% to close at 566.63 on Monday.
What to watch: Investors await the release of economic data on Eurozone’s ZEW economic sentiment index (1300 UAE Time) and Germany’s ZEW economic sentiment index (1300 UAE Time) today. The ZEW indicator of economic sentiment for the Eurozone, which rose by 1 point to 26.1 in September, is expected to surge further to 30.2 in October.
Analysts expect the ZEW indicator of economic sentiment for Germany to climb to 40.5 in October, from 37.3 in the previous month.
Other Markets: Asian indices traded higher on Tuesday, with Japan’s Nikkei 225, China’s Shanghai Composite index and Hong Kong’s Hang Seng index up by 1.90%, 2.71% and 3.49%, respectively.
Ukraine’s President Volodymyr Zelensky said he had a call with US President Donald Trump and that he was waiting for the approval of Tomahawk missiles. The news sent the RUB/USD pair lower in forex trading this morning.
UK’s retail sales grew by 2% year-over-year in September. This being a slowdown from the 2.9% growth reported in the previous month exerted pressure on the GBP/USD forex pair.
New Zealand’s electronic card transactions declined 0.5% to NZ$6.89 billion in September, which sent the NZD/USD pair lower in forex trading this morning.
Brazil’s Industrial Entrepreneur Confidence Index surged to 47.2 in October, from 41.9 in the previous month, lending support to the BRL/USD forex pair.
India’s consumer price inflation slowed to 1.54% in September, from 2.07% in the previous month. The latest reading coming in below market estimates of 1.7% sent the INR/USD pair higher in forex trading this morning.
Spain’s 3-month Letras auction (1240 UAE Time) and 9-month Letras auction (1240 UAE Time), Germany’s ZEW current conditions (1300 UAE Time) and 2-year Schatz auction (1330 UAE Time), Italy’s 10-year BTP auction (1310 UAE Time), 15-year BTP auction (1310 UAE Time), 3-year BTP auction (1310 UAE Time) and 7-year BTP auction (1310 UAE Time), South Africa’s gold production (1330 UAE Time), mining production (1330 UAE Time), US NFIB business optimism index (1400 UAE Time), Redbook index (1655 UAE Time), 3-month Bill auction (1930 UAE Time) and 6-month Bill auction (1930 UAE Time), Canada’s building permits (1630 UAE Time), as well as Argentina’s inflation rate (2300 UAE Time).
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