Investors will be busier in the new stock market week as several major companies release their quarterly data. In the Netherlands, the focus is primarily on chip machine maker ASML, which will present its results on Wednesday. In the United States it is the turn of Tesla and Netflix, among others.
At ASML, the main question is how much trouble the company is experiencing due to the weakening global economy and the impact of high inflation on consumer spending. Partly due to the uncertainty in this regard, ASML is now taking it a little easier with the hiring of new staff, it was recently announced. ASML went on to indicate that the semiconductor industry has strong long-term growth prospects but is facing a short-term downturn.
ASML could also suffer a decrease with regard to the Chinese market. Restrictions for the Dutch firm on exporting to China could become even stricter, the Bloomberg news agency recently reported based on insiders. It was already known that since September ASML could only supply certain machines to China with a permit. But deliveries to a number of Chinese factories could now also be blocked by the US.
Tesla
Tesla reported earlier this month that the maker delivered a record number of electric cars in the recent quarter. The price cuts Tesla implemented under CEO Elon Musk to boost demand seemed to be having an effect. Full quarterly data, including revenue and profit information, now follows.
In Netflix, like every quarter, the focus is mainly on the number of subscribers. And then the question is how users react to the restriction of shared accounts. Today, Netflix charges users a higher fee if they want to share their account.
Macroeconomic data
Other companies providing figures include wholesale chain Sligro, US bank Goldman Sachs and cigarette maker Philip Morris. Also, the market will reprocess a lot of macroeconomic data. New data comes from China, among others. Updates on inflation in the various countries will also follow.
There was still a small advance in the equity markets last week. This followed a stronger-than-expected cooling in US inflation. This has raised hopes that the Federal Reserve will soon stop raising interest rates, stoking investor appetite.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
