President Trump signed an executive order waiving certain Graham Act sanctions, restrictions and duties on Russian energy revenues, which weighed on energy benchmarks, while Russian President Putin reportedly proposed a meeting with Trump and Xi to discuss ending the war. European shares fell, with the STOXX 600 down 0.8%, as Dutch TTF gas rose to its highest since 2022 and protests spread across eurozone countries, while US equity futures were firmer. The euro lagged, with EUR/USD below 1.12 and the OAT-Bund spread widening to about 144bps, while the Australian dollar outperformed after strong Q3 GDP, industrial production and retail sales data from China. Money markets priced a 14% chance of a Fed hike next week and 75% for a hike in December, with the Fed in its blackout period ahead of its meeting.
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Related tickers and likely impact
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 709.82 |
| Change that session | -2.50% |
SPY
▲ Likely positiveSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/16/2026 | 763.31 |
| Change that session | -1.10% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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