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Wall Street Consolidates After ASML-Fueled Losses as US Equity Futures Tread Water Pre-Bell
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Wall Street Consolidates After ASML-Fueled Losses as US Equity Futures Tread Water Pre-Bell
Oct 17, 2024 1:28 PM

08:58 AM EDT, 10/16/2024 (MT Newswires) -- US equity futures were flat pre-bell Wednesday, consolidating after losses amid concerns over chipmaker ASML's ( ASML ) weak sales guidance.

The Dow Jones Industrial Average futures gained 0.02%, while S&P 500 and Nasdaq futures were flat.

ASML ( ASML ) cut the top end of its 2025 sales guidance range to a new range of 30 billion euros ($32.69 billion) to 35 billion euros from the prior forecast range of 30 billion euros to 40 billion euros.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $74.53 per barrel and US West Texas Intermediate crude 0.4% higher at $70.88 per barrel.

US import prices fell 0.4% in September compared with expectations for a 0.3% decrease in a survey by Bloomberg and August's 0.2% decline, while export prices dropped 0.7% for the month following the 0.9% downtick previously and versus estimates for a 0.4% decrease.

In other world markets, Japan's Nikkei closed 1.8% lower, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.05% higher. Meanwhile, UK's FTSE 100 rose 0.9% and Germany's DAX index fell 0.2% in Europe's early afternoon session.

In equities, The Container Store ( TCS ) shares were up 37% pre-bell after the company disclosed a $40 million investment from Beyond (BYON). NovoCure ( NVCR ) stock was 23% higher after the company said overnight that the US Food and Drug Administration approved its Optune Lua device for the treatment of adults with metastatic non-small cell lung cancer.

On the losing side, ASML ( ASML ) shares fell 4.4%. Penguin Solutions ( PENG ) shares fell 13% after the company reported fiscal Q4 adjusted profit and sales that trailed analysts' estimates.

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