Diamonds and Dogs

10/15/24

Banks are having a good day. Bank of America, Goldman Sachs and PNC are higher on earnings, but the diamond goes to Charles Schwab (SCHW) up 8% to a three month high as the company has slowed the tide out of their low paying money market accounts while also making more money on alternative investments.

Tech reverse course as semiconductor equipment maker, ASML (ASML) drops 16% after a preannouncement which saw them miss estimates and lower guidance. The CEO warned of "cautiousness" among customers and said a "recovery is more gradual than previously expected." Nvidia and AMD are down 4%, Broadcom and Micron are down 3%.

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