U.S. stocks slipped in a mild round of profit-taking as investors positioned for the start of the third-quarter earnings season next week. The pullback followed a string of record highs driven by optimism around artificial intelligence and resilient corporate results.
In a sign of deepening trade tensions, China announced it will impose special port fees on U.S. vessels starting October 14, mirroring earlier American restrictions on Chinese shipping and exports.
In corporate developments, Citigroup Inc. rejected an offer from Grupo México SAB for its Mexican banking unit Banamex, the country’s second-largest lender. The decision prolongs uncertainty over Citi’s exit strategy from retail banking in Mexico. Meanwhile, in Spain, the BBVA–Sabadell takeover saga continues to dominate headlines, with no final resolution in sight.
Commodities pulled back after the Israel–Hamas ceasefire agreement, with oil and gold both falling 1.5%. Goldclosed just below $4,000 an ounce, while the U.S. dollar index (DXY) climbed 0.59% to 99.4, reflecting a shift toward safety trades.
In France, President Emmanuel Macron continues efforts to assemble a workable coalition as political uncertainty lingers.
European stocks and U.S. futures were little changed in early trading, suggesting investors are pausing ahead of next week’s data and earnings flow.
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