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.

Read full article

Stock Forecasts

MSView MS chart on TradingView

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.

NVDAView NVDA chart on TradingView

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.

Related News

Stock market today: US futures take a post-ASML pause with fresh earnings on deck

Oct 16, 2024, 7:06 AM

Eyes are on results from Morgan Stanley and others for reasons for stocks to rebound to record highs.

NVDA

Morgan Stanley is about to report earnings — here's what to expect

Oct 16, 2024, 7:00 AM

Morgan Stanley has several tailwinds in its favor, from high stock values to a rebound in investment banking and strong trading activity.

MS

Stock market today: Nasdaq leads stock declines as Nvidia, chip stocks sell off

Oct 15, 2024, 4:06 PM

As a fresh wave of earnings rolls in, hopes are for further positive surprises.

NVDA
WBA