Europe, U.S. futures rise as semiconductor supplier ASML beats expectations
A lot of eyes are on the French bond market right now as Paris struggles to deal with its national debt.
European and U.S. markets experienced a rise on Tuesday following ASML's Q3 profits that surpassed expectations and the announcement of customers interested in placing orders up to 2030. However, the company also raised its Q4 sales guidance, indicating capacity limitations. ASML's stock surged by 3% as traders determined that the demand for AI services remained robust.
Despite slightly below expected sales, the European markets and U.S. futures gained this morning following a flat close for the S&P 500 the previous day. However, in Asia, markets largely declined after reports of escalating conflict between Saudi Arabia and the Houthis sparked a spike in oil prices. The S&P 500 futures increased by 0.21%, while the S&P 500 closed flat on Tuesday. European markets saw the Stoxx 600 rise by 0.48% and the UK's FTSE 100 up by 0.22% before noon.
On the global front, South Korea's KOSPI fell by 0.44%, Japan's Nikkei 225 dipped by 0.05%, India's Nifty 50 declined by 0.46%, and China's CSI 300 decreased by 1.36%. Brent crude oil was trading at $106 per barrel, and Bitcoin was priced at $83,330. With regard to bonds, France's fiscal situation mirrors that of the United States, as both face challenges in managing their national debt.
Recent concerns about potential bank runs in France if the Élysée Palace fails to control the situation have led to discussions on whether France could push the eurozone into a new sovereign debt crisis.
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