8 Mins Ago
ASML beats expectations
ASML, the Netherlands-based producer of semiconductor equipment, reported net profit of 1.9 billion euros ($2.131 billion) in the second quarter, higher than the prior year’s 1.4 billion euros and above analyst expectations of 1.82 billion euros.
The company also raised its full-year sales growth forecast to 30% from 25%.
“Our customers across different market segments are currently more cautious due to continued macro-economic uncertainties, and therefore expect a later recovery of their market,” said CEO Peter Wennink.
“Also, the shape of the recovery slope is still unclear. However, our strong backlog of around €38 billion provides us with a good basis to navigate these short-term uncertainties.”
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ASML share price.
21 Mins Ago
UK inflation 7.9% in June, below expectations
U.K. annual consumer price inflation came in at 7.9% for June, below a consensus estimate of 8.2% and down from 8.7% in May.
Core inflation remained eye-wateringly high, at 6.9%, but was also below an expectation for it to hold steady at 7.1%.
Services annual inflation dipped from 7.4% to 7.2%.
The print will spark reassessments of whether the Bank of England will be tempted away from a second consecutive 50-basis point rate hike on Aug. 3, as it grapples with strong wage growth.
— Jenni Reid
An Hour Ago
Europe stocks set for mixed open
Europe stocks are set to open mixed Wednesday, according to IG data.
The FTSE 100 is heading for a 3.8 point dip to 7,452 points, Germany’s DAX an 11 point decline to 16,124, and France’s CAC 40 a 12.2 point gain to 7,335.
— Jenni Reid
6 Hours Ago
CNBC Pro: 15 strategists predict how global stocks will end 2023 — and share how to position
U.S. stocks have made big gains this year, but the performance across global stocks has been uneven so far.
So where will global stocks go in the second half of the year?
CNBC Pro asked 15 market strategists at investment banks and asset managers that question from July 3-7. The respondents also shared their views on how investors should be positioned and what the biggest market risks are.
CNBC Pro subscribers can read more here.
— Weizhen Tan
6 Hours Ago
CNBC Pro: This high-risk global bond fund isn’t for everyone, but it’s tempting investors with a 10% yield
The rise in interest rates in the U.S. to above 5% means investors around the world are looking further afield for high-yielding investments.
For global investors, one frontier markets bond fund is offering substantial returns; its yield was around 10% as of July 18, according to FactSet data, although these returns are tied to higher levels of risk.
CNBC Pro subscribers can read more here.
— Ganesh Rao
19 Hours Ago
Morgan Stanley beats second-quarter analyst estimates
18 Hours Ago
Retail sales weaker than expected in June despite inflation drop
Consumer spending was weaker than expected in June despite a seemingly brighter inflation picture, the Commerce Department reported Tuesday.
Advance retail sales showed just a 0.2% increase for the month over May, less than the 0.5% increase that economists surveyed by Dow Jones had been expecting. Excluding autos, the increase also was 0.2%, below the 0.3% estimate.
Falling prices saw gasoline station sales drop 1.4%, offsetting a 2% gain from miscellaneous stores and a 1.9% increase on online purchases.
The numbers are not adjusted for inflation; the consumer price index rose 0.2% for the month, indicating that real sales were about flat.
—Jeff Cox
Read More: FTSE 100, DAX, CAC 40