Midweek stock market update: the European Bomb
ASML and LVMH earnings both came in soft.
The European bomb:
Today we had two pieces of news out of Europe. 1) ASML’s earnings leaked, and they were bad. 2) LVMH had their regularly scheduled earnings, and they were also bad, and trending worse.
Let’s start with ASML’s earnings. The PR from the numbers said AI demand is strong and that the weakness stems from logic foundry (this is mostly Intel)…
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