U.S. Sanctions Iran’s Strait of Hormuz Authority as Global Oil Markets Face Turmoil 
South Korea Central Bank Holds Interest Rates Steady Amid Inflation Concerns 
Dollar Gains Slightly as U.S.-Iran Tensions Keep Forex Markets on Edge 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Dow Hits Record High as Healthcare and Consumer Stocks Lead Wall Street Rally 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
Asian Markets Slide as New U.S. Strikes on Iran Spark Investor Caution 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
ECB’s Philip Lane Warns Middle East Conflict Could Keep Inflation Elevated 
US Imposes Fresh Iran Oil Sanctions Despite Progress on Ceasefire Talks 
Canada and Germany Advance Major LNG Supply Partnership 
Wall Street Hits New Highs as U.S.-Iran Ceasefire Talks Boost Market Sentiment 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
Asian Currencies Steady as U.S.-Iran Ceasefire Extension Hopes Weigh on Dollar 
S&P 500, Nasdaq Hit Record Highs as Iran Ceasefire Talks and AI Rally Boost Markets 
Oil Prices Set for Sharp Weekly Losses as U.S.-Iran Ceasefire Hopes Ease Supply Concerns 
Gold Prices Hold Near Record Levels as Inflation Concerns Offset Middle East Ceasefire Hopes 
Stock Futures Steady After Tech Stocks Decline
U.S. stock futures stabilized in Tuesday evening trading, following earlier losses driven by weak earnings from ASML, a key player in the semiconductor industry. S&P 500 Futures held steady at 5,863.75 points, while Nasdaq 100 Futures saw a slight rise to 20,355.75 points. Dow Jones Futures remained unchanged at 43,009 points as of 19:09 ET (23:09 GMT).
ASML's Weak Outlook Hits Chipmakers
ASML, a semiconductor equipment manufacturer, cut its annual forecast due to reduced demand for non-AI chips, triggering a sharp 16.3% drop in its stock during the day. Although ASML’s earnings surpassed estimates, the market reacted negatively. The stock slightly recovered in after-hours trading.
Other major chipmakers followed ASML’s lead, with NVIDIA dropping 4.5%, AMD down 5.2%, and Intel losing 3.3%. Concerns were further fueled by reports that the U.S. government might limit AI chip sales to certain countries, raising fears of declining revenue.
Eyes on TSMC Earnings
The chipmaking sector’s focus now shifts to Taiwan’s TSMC, the world’s largest contract chipmaker, whose third-quarter earnings are due Thursday. Investors view TSMC as a key indicator of the broader semiconductor industry’s health.
Broader Market Trends Amid Earnings Season
The broader stock market also faced challenges. The S&P 500 dipped 0.8% to 5,815.26 points, while the NASDAQ Composite fell nearly 1% to 18,322.05 points. The Dow Jones Industrial Average dropped 0.8% to 42,740.42 points, all from record highs.
In contrast, third-quarter earnings reports from major banks like Goldman Sachs and Citigroup were positive, but largely overshadowed by the tech slump. Key earnings reports, including those from Morgan Stanley, and Netflix, continue this week.
