ASML miss raises worries about the the AI rally [Video]
|The big story of yesterday was the disappointing results from the biggest European company, ASML, where sales missed estimates and new orders slumped by 60% compared to a quarter earlier. The results raised questions regarding the sustainability of demand from chipmakers and the AI rally. The S&P 500 and Nasdaq extended losses. TSM and Netflix are due to reveal results today.
Elsewhere, the US treasuries rebounded yesterday, and the dollar gave back gains as authorities around the world highlighted the ‘serious concerns’ regarding the depreciation of the Japanese yen and the Korean won against the greenback. The EURUSD and Cable rebounded but the divergence among the central bank policies remain in favour of further weakness in the euro and sterling against the greenback.
In energy, US crude gives back gains but risks remain tilted to the upside due to tense geopolitical landscape.
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