📆 Thursday, November 14
► European stock futures saw some gains, with Euro Stoxx 600 futures up 0.5% boosted by strong earnings reports from Dutch advanced chip-making machines maker ASML (only forecast, not yet Q3/24 report) and Siemens Energy. Siemens Energy AG reported strong revenue growth and rose to ATH, with Q4 non-GAAP EPS reaching €2.57 and total revenue hitting €20.81 billion, driven by a steady performance in its electrification and digital industries. ASML maintained its positive long-term outlook as AI drives demand for semiconductors.
► In the US, inflation data aligned with expectations, supporting hopes that the Fed may still cut in December, with traders now pricing in an 80% chance for a 25-bp rate cut, up from around 60% before US CPI release. However, inflation remains stick and concerns that Trump’s policies on tax and tariffs will reignite price growth remain present. The 2-year Treasury yield dropped five basis points to 4.29% as traders increased their bets on rate cuts. US PPI data, due later, is expected to reveal annual producer price increases for October, providing further inflation insights. Dollar strength remained a market driver, with the DXY hitting a two-year high, up 0.5%.
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