CDN NEWS | 
US NEWS 
Oct 25, 2018, by Lorcan Roche Kelly
(Bloomberg)
Easing
The equity selloff that saw year-to-date gains wiped out for both the S&P 500 Index and the Dow Jones Industrial Average in yesterday’s U.S. session appears to be running out of steam this morning. The Stoxx 600 Index was trading 0.4 percent higher by 5:45 a.m. Eastern Time and U.S. futures also rallied as technical indicators show markets across the globe are in deep oversold territory. Overnight, the MSCI Asia Pacific Index fell 2 percent while Japan’s Topix index closed 3.1 percent lower. The Treasury market remained relatively quiet with the 10-year yield at 3.130 percent while gold slipped slightly.
Khashoggi
Central Intelligence Agency Director Gina Haspel will brief President Donald Trump later today following her trip to Turkey, with reports suggesting she heard a recording allegedly made of journalist Jamal Khashoggi’s interrogation and killing in the Saudi consulate in Istanbul. Saudi Arabia’s Prince Mohammed bin Salman called the death a “heinous crime” and promised to bring the killers to justice, while he sought to repair relations with Turkey in a phone call with President Recep Tayyip Erdogan.
ECB
Economists expect no policy change from the European Central Bank when the latest interest-rate decision is announced at 7:45 a.m. this morning. President Mario Draghi is likely to remain vague in the press conference 45 minutes later as to when rates will start to rise. With growth risks increasing for the euro-area economy, investors will listen carefully for any hint that tightening might be pushed further out, something that would be bad news for European banks whose margins are already under pressure. Turkey’s central bank announces its monetary policy decision at 7:00 a.m., again with no change expected.
Tech earnings
Microsoft Corp. got earnings season for big tech off to a strong start yesterday with a set of results that topped analyst estimates. Google parent Alphabet Inc., Amazon.com Inc., Snap Inc., and Intel Corp. all report after the bell today. Twitter Inc. will announce results ahead of the market open as the company remains under pressure to show how it intends to grow.
Coming up…
Today’s initial weekly jobless claims number is expected to show an increase to 215,000 from last week’s 210,000 when it’s published at 8:30 a.m. Durable goods orders and wholesale inventories data for September will be released at the same time. Federal Reserve Vice Chairman Richard Clarida makes his first speech on the economic and monetary outlook since his swearing-in at 12:15 p.m., and Cleveland Fed President Loretta Mester will speak at an event at 9:00 p.m. tonight.
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