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ASML Up on Supply Plans; BlackRock Reports Earnings | Stock Movers

On this episode of Stock Movers: - BlackRock (BLK) shares are responding to this morning's earnings. BlackRock reported assets under management that met the average analyst estimate and adjusted EPS and Sales beat estimates. - ASML (ASML) shares are rising this morning after the company said it's searching for ways to produce more chip-making machines over the next two years due to soaring artificial intelligence spending. ASML said its current supply plans mean it won't be able to fully meet demand in 2027 and 2028, and it's investigating ways to increase capacity for 2028 beyond the 30% increase previously communicated.

Read more: ASML Up on Supply Plans; BlackRock Reports Earnings | Stock Movers
Bloomberg
Financial

Fed Rate Hike Would Probably Be 'Stupid' Now, JPMorgan's Kelly Says

David Kelly, chief global strategist at JPMorgan Asset Management, says he does not expect the Fed to raise rates at its October meeting. Speaking on "Bloomberg Surveillance," Kelly argues that the meeting falls just six days before the election, when policymakers may want to avoid appearing political and that major uncertainties likely to be resolved by the election could reshape the 2027 outlook.

Read more: Fed Rate Hike Would Probably Be 'Stupid' Now, JPMorgan's Kelly Says