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Market watchers are anticipating a stable unemployment rate in December, with expectations of 155,000 new jobs added. U.S. stock futures are slightly lower following a market closure for former President Jimmy Carter's funeral, while insurance stocks drop amid soaring wildfire damage estimates of up to $150 billion. Delta Air Lines shares surge 7% after exceeding Q4 profit expectations, and Taiwan Semiconductor Manufacturing Co. sees a 1.2% rise in stock following better-than-expected revenue results.
Asian stocks mostly declined amid renewed concerns over potential trade friction with President-elect Donald Trump. Japan's Nikkei fell 0.9% following strong wage growth data, while the Shanghai Composite dropped 0.6% as inflation signals pointed to weak demand. In the U.S., markets were steady, with the S&P 500 recovering slightly after previous losses, as investors awaited key economic reports.
US stocks declined on Tuesday as investors awaited a crucial consumer inflation report, with the Dow Jones Industrial Average falling over 0.3%. Alphabet's shares rose over 5% after announcing advancements in quantum computing, while Oracle's stock dropped around 7% due to disappointing quarterly revenue. Despite the overall market dip, hopes for a "soft landing" in the economy persist, with expectations of a Federal Reserve rate cut in December.
Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 34% increase in sales for November, driven by strong AI demand, despite concerns over a slowdown in data center construction. Monthly sales reached NT$276.1 billion ($8.5 billion), with combined sales for October and November up 31.4%. Analysts anticipate a 36.3% growth in sales for the current quarter, while TSMC's shares have surged approximately 80% this year.
India-dedicated global funds experienced a slight rebound with $156 million in inflows after enduring $1 billion in redemptions since October. This uptick follows a period of consistent outflows, with India seeing the second-highest outflows among emerging markets at $2.2 billion, trailing only China. Meanwhile, foreign investors invested $9.9 billion into US funds, highlighting the ongoing dominance of the US in global capital flows.
ASML Holding N.V. is a leading manufacturer of lithography equipment for the semiconductor industry, with 79.6% of its sales from lithography equipment and 20.4% from services. Geographically, the company generates significant revenue from Taiwan (29.3%), South Korea (25.2%), and China (26.3%), while the Netherlands accounts for just 0.1%.
Inflows from emerging markets, including India, into US funds have surpassed $47 billion, according to Elara Capital. In the week ending November 29, US funds recorded inflows of $37 billion, totaling $148 billion over five weeks, with India contributing $2.2 billion. The largest outflow came from China at $11 billion, while mid- and small-cap US investments also saw significant increases.
JPMorgan Private Bank forecasts that developed markets will outperform emerging market equities in 2025, despite strong economic growth in regions like India, Taiwan, Indonesia, and Mexico, which are expected to yield solid returns. The bank notes that while emerging economies have averaged a nominal GDP growth of 4.3% since 2009, many domestic companies, particularly in China, have struggled with stagnant profits. Key investment factors include a robust private sector, higher EPS returns, and strong export industries, with India leading in earnings growth at 296% from 2009 to 2024.
The U.S. Commerce Department has finalized a $6.6 billion subsidy for Taiwan Semiconductor Manufacturing Co. (TSMC) to boost semiconductor production in Phoenix, Arizona, marking a significant step under the $52.7 billion Chips and Science Act. TSMC plans to invest an additional $25 billion, expanding its total investment to $65 billion, and will produce advanced 2 nanometer technology by 2028. The agreement includes provisions for profit sharing with the U.S. government and a commitment to halt stock buybacks for five years.
ASML Holding N.V. is a leading manufacturer of lithography equipment for the semiconductor industry, with 79.6% of its sales coming from lithography equipment and 20.4% from services. Geographically, the company generates significant revenue from Taiwan (29.3%), South Korea (25.2%), and China (26.3%), while the Netherlands accounts for just 0.1%.
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stock market update job report insurance losses and airline earnings boost
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asml maintains neutral stance amid strong semiconductor equipment sales
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