Tonight’s Highlights | Nasdaq Futures Surge Over 1% Pre-Market, ASML Earnings Boost Chip Stocks  

On Wednesday (October 15), U.S. stock index futures collectively rose in pre-market trading.

 

 

As of this report, Dow Jones futures gained 0.38%, S&P 500 futures rose 0.71%, and Nasdaq 100 futures climbed 0.98%.

 

Chip stocks performed strongly pre-market, with Nvidia, Broadcom, and AMD up over 2%, and ASML and TSMC soaring over 4%. Earlier in the day, ASML reported Q3 orders exceeding expectations and projected ~15% net sales growth for the full year.

 

Boosted by the chip sector, most major tech stocks rose, with Apple, Tesla, Oracle, Palantir, and Intel up over 1%, and Alibaba gaining over 3%.

 

Bank of America reported Q3 earnings and revenue beating market expectations, driven by strong investment banking performance, with its stock up ~4% pre-market. Morgan Stanley also posted better-than-expected results, with its stock rising over 4%.

 

However, B. Riley Wealth Management Chief Market Strategist Art Hogan noted that as long as trade uncertainties persist, U.S. stocks may consolidate, hovering near record highs.

 

Hogan said the earnings season could outperform expectations, but corporate results may not act as a positive catalyst until the U.S. government reopens and trade relations clarify. Overnight, Congress failed to advance a temporary funding bill.

 

Fed Chair Jerome Powell noted in his speech that if the government shutdown persists and October data is delayed, the Fed will start missing data, complicating the outlook.

 

But Powell also offered positive news, stating that “the U.S. employment and inflation outlook seems largely unchanged,” a remark seen as hinting at another Fed rate cut.

 

Most European markets in session rose, with Germany’s DAX down 0.04%, the UK’s FTSE 100 down 0.40%, and France’s CAC 40 up 2.24%.

Company News

Apple COO Visits Lens Precision  

 

According to Lens Technology, Apple COO Sabih Khan visited Lens Precision in Taizhou, Jiangsu, on October 14, accompanied by Lens Technology Chairman Zhou Qunfei. They toured the workshop, reviewing Lens Technology’s practices in smart manufacturing, green production, and talent development.

 

At the Taizhou factory, Khan observed the production process of iPhone 17 and iPhone 17 Pro frames, from raw materials through multiple precision steps to the final product.

 

ASML Poised for Sales Growth by 2030 with Next-Gen Lithography Machines  

 

Driven by strong demand for extreme ultraviolet (EUV) and deep ultraviolet (DUV) lithography equipment, ASML may achieve €44-60 billion in revenue by 2030. At a midpoint of €52 billion, this implies a 10% annual sales growth rate from 2025 to 2030.

 

Orders for next-gen EUV equipment for 1.4nm, 1.0nm, and sub-1.0nm chips are expected to surge from 2025 or 2026, with prices potentially 50%-100% higher than traditional EUV systems.

 

Morgan Stanley Q3 Net Revenue Beats Expectations  

 

Morgan Stanley reported Q3 net revenue of $18.22 billion (vs. $16.64 billion expected), wealth management revenue of $8.23 billion (vs. $7.78 billion), and equity sales/trading revenue of $4.12 billion (vs. $3.41 billion). Q3 provisions for bad debts were $0 (vs. $97.1 million expected). Q3 EPS was $2.80.

 

Nscale to Build Large AI Data Center for Microsoft in Texas  

 

Per a Wednesday statement, AI-focused data center developer Nscale agreed to build a data center in Texas for Microsoft with up to 240MW power capacity. The startup will deploy ~104,000 of Nvidia’s latest GB300 chips, with the facility set to begin operations in Q3 2026.

 

Coinbase Boosts Investment in Crypto Exchange CoinDCX  

 

On October 15, Coinbase announced an investment in CoinDCX, a leading crypto exchange in India and the Middle East, following prior investment through Coinbase Ventures.

 

Ericsson Signs $3 Billion Deal with Export Development Canada  

 

On October 15, Ericsson announced a $3 billion agreement with Export Development Canada (EDC) to expand R&D investment in Canada, deepen local supply chains, and accelerate development of next-gen technologies, including 5G, Cloud RAN, AI, and quantum innovation.

 

HSBC Raises Nvidia Price Target from $200 to $320  

 

HSBC upgraded Nvidia’s rating from hold to buy, raising its price target from $200 to $320. The $320 target implies Nvidia’s market cap could reach $7.78 trillion.