Futures Rise Ahead of Key U.S. Inflation Data; Oil Gains, Gold Retreats, and Trade Tensions Dominate Headlines

Index Update:  The delayed inflation report is expected to show persistently high prices ahead of a potential Fed rate cut next week. Intel shares jumped 8% on strong Q3 sales, while Target and Rivian gained after layoff announcements. Major U.S. indices advanced Thursday, led by tech stocks, as optimism grew over easing U.S.-China tensions following news of Trump’s planned meeting with Xi Jinping

Market Movers:  On Thursday, the top gainers were Scienture Holdings, Inc. (+354.94%), followed by American Rebel Holdings, Inc. (+75.35%). On the contrary Agencia Comercial Spirits Ltd. (-33.72%), and Integer Holdings Corporation. (-32.28%) declined the most the same day.

Commodities Update:  Crude oil prices climbed to two-week highs, with WTI trading above $61 and Brent near $66 per barrel, both heading for their strongest weekly gains since early June. The rally was driven by fresh U.S. sanctions on Russia’s Rosneft and Lukoil, which heightened supply concerns as China and India cut Russian oil imports. Meanwhile, gold prices slipped below $4,100 per ounce, set to end a nine-week rally after heavy ETF outflows and profit-taking, though year-to-date gains remain strong amid trade tensions and expectations of further Fed rate cuts

Macro Updates:  President Trump announced the termination of all U.S. trade negotiations with Canada after Ontario’s government aired an ad using edited remarks from Ronald Reagan criticizing tariffs. Trump and the Reagan Foundation said the ad misrepresented Reagan’s words. Calling it a “fake” attempt to influence U.S. courts, Trump defended tariffs as vital to national security and the economy.

Bonds Commentary:  The U.S. 10-year Treasury yield hovered near 4% on Friday as investors awaited a delayed inflation report expected to show persistent price pressures. While the data is unlikely to deter a Fed rate cut next week, a stronger reading could temper expectations for further easing in December. Markets also monitored U.S.-China trade talks ahead of next week’s Trump-Xi meeting in South Korea.

Futures Update:  U.S. stock futures edged higher on Friday as investors awaited delayed inflation data and monitored ongoing corporate earnings, including Ford’s results. Optimism was supported by President Trump’s planned meeting with China’s Xi Jinping, easing trade concerns. As of early trading, Dow futures rose 0.1%, S&P 500 gained 0.2%, and Nasdaq 100 advanced 0.4%

After experiencing weakness in the previous session, stocks regained upward momentum during Thursday's trading. The S&P 500 rose by 39.02 points, or 0.58%, closing at 6,738.43. From a technical perspective, the index established support at key levels and gradually moved higher, suggesting the potential for continued upward momentum in the near term. Additionally, the 14-day Relative Strength Index (RSI) is rising above the midpoint, further supporting a positive outlook. Key support levels are around 6,666, with resistance expected near 6,820.