Stock market today: US futures take a post-ASML pause with fresh earnings on deck
Published On Oct 16, 2024, 7:06 AM
US stock futures paused as investors await earnings reports from major firms including Morgan Stanley. After a dip caused by ASML cutting its sales forecast, the focus is on how banks' earnings might signal economic trends. Disappointing results from several companies have led to cautious sentiment in the market, while commodities like gold are seeing an uptick due to ongoing uncertainties around the US presidential race.
Stock Forecasts
MS
Positive
Morgan Stanley's earnings report could significantly impact market trends if strong, aligning with soft landing optimisms. A positive report would likely boost investor confidence across banks and tech, potentially reversing the recent downtick in related sectors.
NVDA
Negative
Due to ASML's negative impact on the AI chip sector and its domino effect on companies like Nvidia, continued weakness is anticipated unless there's positive economic news. Investors might want to approach tech stocks with caution in the short term due to this volatility.
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