[Pre-Market Update in New York] U.S. Stock Futures Rebound at Open; Gold Prices Hit Record $3,500

# U.S. Futures Rebound Amid Trade Agreement Optimism and Tesla Earnings Speculation U.S. futures rebounded sharply following the prior day's steep decline. This resurgence is fueled by optimism around trade negotiations and heightened anticipation for Tesla's forthcoming earnings report. Concurrently, gold prices surged to a record high of $3,500 per ounce, reflecting a sustained preference for safe-haven assets. On October 22 (local time), S&P 500 futures and Nasdaq 100 futures increased by 0.9% each, while Dow Jones futures rose by 0.8%. This partial recovery follows market turbulence triggered by former President Trump's comments hinting at the potential replacement of Federal Reserve Chair Jerome Powell. # Tesla Earnings Anticipation Sparks Mixed Sentiment Investor focus is now on Tesla (TSLA), which is set to report its first-quarter earnings after the market closes. Despite increased interest, Tesla's stock has seen a 44% decline this year, linked to CEO Elon Musk’s controversial political statements and weak global sales. As rumors about possible changes in Federal Reserve leadership persist and pressure for consecutive rate cuts grows, markets are reassessing the dependability of U.S. assets. John Bellis, a strategist at BNY Mellon, cautioned that “political interference in the Federal Reserve’s independence could undermine the U.S. dollar and Treasurys as traditional safe-haven assets.” # U.S.–India Trade Talks Advance; Tariff Relief Extended On the trade front, significant progress in U.S.-India bilateral negotiations has infused new momentum. Vice President J.D. Vance and Indian Prime Minister Narendra Modi reportedly met, following the Trump administration’s April announcement of tariffs up to 26% on Indian imports. These tariffs are temporarily suspended for 90 days, pending further discussions. # European Markets Dip, Euro Weakens; BOJ Maintains Rate Hike Stance European markets resumed trading post-Easter holiday, with the Stoxx Europe 600 index dropping 0.6%. The euro weakened by 0.2% to $1.1491, while the British pound remained largely unchanged. The Japanese yen advanced 0.4% to 140.31 per dollar, reflecting expectations that the Bank of Japan (BOJ) will maintain its current rate hike trajectory. # Surge in Gold Prices, Bitcoin(BTC) and Ethereum(ETH) Follow Suit; Oil Rebounds Robust demand for safe-haven assets drove gold prices to an all-time high. Spot gold spiked 2.2% in intraday trading, breaching the $3,500 mark for the first time. However, profit-taking pared gains, and the metal closed up 0.9% at $3,454.96 per ounce. WTI crude futures rose by 1.7% to $64.14 per barrel, demonstrating a resurgence in oil prices. Meanwhile, the yield on the U.S. 10-year Treasury note climbed 2 basis points to 4.43%. Germany’s 10-year bund yield slipped 1 basis point to 2.46%, and the yield on the U.K.’s equivalent rose by 2 basis points to 4.58%.