The Morning Briefing · Monday, 19 October 2026 · Published 07:15 CET · 5-minute read
Good morning. A new week opens with US stock futures trying to bounce after a bruising week for chipmakers, while China’s economy grew faster than expected and oil eased after Washington paused new sanctions on Russia.
☕ Today in 30 seconds
- Futures bounce. US index futures point higher after the Nasdaq lost 4.5% last week on AI spending doubts.
- China beats. Third-quarter growth picked up to 4.5%, helped by exports of AI-related tech.
- Oil eases. Brent slipped from near $110 after the US waived new Russia sanctions to ease diesel costs.
- Big Tech week. Netflix reports Tuesday; Tesla and Meta follow on Wednesday.
📈 Markets
| Index/Asset | Last close | Change |
|---|---|---|
| S&P 500 | 7,659.44 | −1.1% |
| Nasdaq Composite | 26,140.03 | −2.1% |
| Dow Jones | 52,002.41 | −0.3% |
| Euro Stoxx 50 | ↑ higher | +0.6% |
| IBEX 35 | 19,326.30 | +0.8% |
| Brent crude | ↑ higher Friday (near $110) | ↓ lower early Monday |
| Gold | ↑ higher (about $4,180/oz) | ↑ higher |
| EUR/USD | ↑ higher Friday (about $1.12) | ↓ slightly lower Monday |
| US 10-year yield | 5.09% | +0.02 pts |
Friday’s closes. Wall Street ended a rough week with tech leading the losses, while the Dow still managed a 0.7% weekly gain and Europe closed higher; the IBEX 35 rose 1.5% on the week (AP). In early Monday trade, Japan’s Nikkei fell while US futures rose and Treasury yields eased (Reuters).
🌍 Economy
China’s growth speeds up in the third quarter. The world’s second-largest economy grew 4.5% from a year earlier, up from 4.3% in the second quarter and slightly above forecasts. Factory output rose 5.5% in September, but property investment remains deeply negative, showing how uneven the recovery still is (Reuters).
Euro-area inflation confirmed at a three-year high. Eurostat confirmed consumer prices rose 3.8% in September, up from 3.2% in August. Energy was the biggest contributor, followed by services, which keeps pressure on the European Central Bank ahead of several speeches by its officials this week (Eunews).
The Fed keeps its cards close. Fed Chair Kevin Warsh gave no guidance on this month’s rate decision after last week’s hot inflation readings, saying inflation remains too high. The 10-year Treasury yield sits just above 5%, keeping borrowing costs elevated for households and companies (Yahoo Finance).
⚡ Energy & bills
US waives new Russia sanctions, citing diesel costs. President Trump signed an order on Saturday waiving tariffs and sanctions on Russia that were due to take effect this week. The administration linked the move to peace talks and to rising diesel prices; critics in both parties and Ukraine’s president condemned it (ABC News).
Hormuz keeps a floor under oil. Brent dipped on the Russia news but stays far above $100 a barrel. Iran reported another tanker hit a mine in the Strait of Hormuz, a reminder that fuel and heating bills remain exposed to Middle East supply risks (Reuters).
🏢 Companies
CoreWeave slide deepens AI debt worries. The AI cloud provider fell about 12% on Friday, its second big drop in three days. Investors are questioning whether the data-center boom relies too heavily on borrowing, as the company carries roughly $50 billion of debt (TheStreet).
Earnings season hits Big Tech. Netflix reports on Tuesday, then Tesla and Meta on Wednesday. After a sharp sell-off in chip stocks, investors want proof that heavy AI spending is turning into revenue; Goldman Sachs expects the largest cloud spenders to lift capital spending to about $1.2 trillion next year, Reuters reported (Reuters).
🔢 One number to know
4.5%
China’s year-on-year GDP growth in July–September, keeping nine-month growth at 4.6%, inside Beijing’s 4.5%–5% target (Reuters).
🗓 What to watch today
| Time (CET) | Event | Why it matters |
|---|---|---|
| During the day | ECB’s Lane and Elderson speak | Clues on how the ECB reads 3.8% inflation |
| Before US open | Cleveland-Cliffs, Fifth Third results | Steel demand and regional bank health |
| 14:30 | Canada CPI (September) | Inflation trend in a major oil producer |
| 16:00 | US NAHB housing index (October) | Builder confidence with 10-year yields near 5% |
| After US close | Zions, Steel Dynamics, W.R. Berkley results | Credit quality, steel and insurance trends |
Full week in our economic calendar.
📚 Read more
- Week Ahead: Tesla & Meta Earnings, UK CPI, China GDP (Oct 19–25)
- Pennsylvania governor joins fight over data center power costs
- Wholesale prices just jumped 1.3%. What PPI means for you
- Tool: see what rising prices do to your money with our inflation calculator.
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Market data is for information only and is not investment advice.
Written by The Daily Economy editorial team with AI assistance and checked against the linked sources. Read our editorial policy.