Japan shares took a hit as ASML cut its outlook, with its CEO warning that the recovery in semiconductors was weak outside the hot AI sector.
Thank you for reading this post, don't forget to subscribe!- S&P 500 Futures: 5,863.50 ⬆️ up 0.01%
- S&P 500: 5,815.26 ⬇️ down 0.76%
- Nasdaq Composite: 18,315.59 ⬇️ down 1.01%
- Dow Jones Industrial Average: 42,740.42 ⬇️ down 0.75%
- STOXX Europe 600: 518.71 ⬇️ down 0.36%
- CSI 300: 3,831.59 ⬇️ down 0.63%
- Nikkei 225: 39,180.30 ⬇️ down 1.83%
- Bitcoin: $67,211.567 ⬆️ up 2.4%
China: Shares take a break ahead of housing briefing
China shares took a breather after a big day of losses Tuesday. Housing stocks saved the markets from steeper losses, as investors awaited a briefing—and possible new stimulus measures—from the country’s housing minister on Thursday morning. The CSI 300, which tracks the 300 top stocks on the Shanghai and Shenzhen exchanges, gave up 0.63%, while Hong Kong’s Hang Seng fell 0.16% and Shanghai eeked out a 0.05% gain.
Japan: Semiconductor shares drag down market
The Nikkei 225 dropped 1.83% as semiconductor shares dragged down the market after ASML accidentally reported disappointing results a day early, and its CEO offered a sober assessment of demand beyond AI. Chip industry company Tokyo Electron plunged 9.19%, while Softbank, the majority owner of semiconductor heavyweight Arm Holdings, fell 3.97%.
Europe: Shares drop as luxury woes pile onto chip worries
European stocks posted small losses early Tuesday as ASML’s bad news was amplified by LVMH’s bad third-quarter report, as it announced a 3% drop in sales—and 16% in China’s region—and CFO Jean-Jacques Guiony said that “consumer confidence in mainland China today is back in line with the all-time low reached during COVID.” LVMH was down 3.9% in early trading, while ASML gave up another 3.2%. The Stoxx Europe 600 was down 0.36% while the FTSE 100 rose 0.65% after the national ststistics office announced inflation for September of 1.7%, down from 2.2% in August and the lowest since April 2021..
U.S. premarket mixed after tech-driven down day
U.S. markets were largely unchanged in premarket trading Wednesday, a day after tech stock drops hit Wall Street, with Nvidia’s 4.5% drop weighing down the S&P 500. Nvidia rebounded a bit Wednesday, posting gains of some 0.5% in early trading.
And earnings season continues…
Morgan Stanley reports today; Netflix has its turn Thursday; and Friday features P&G and American Express.
Leave a Reply