06:57 · 16 October 2025

Morning wrap (16.10.2025)

Key takeaways
US500
Indices
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Key takeaways
  • Strong TSMC Q3 Earnings support stock market sentiments 
  • Unemployment rate rises in Australia
  • Markets await earnings reports from the US companies today
  • U.S. stock indexes closed yesterday’s session higher, although most of the gains were erased during the second half of trading on Wall Street. Today, U.S. index futures are rising following strong quarterly results from Taiwan Semiconductor (TSMC), while investors’ focus will turn to comments from central bankers, as the September PPI inflation report will not be released due to the government shutdown. Companies reporting earnings today include Intuitive Surgical, The Charles Schwab, Infosys, U.S. Bancorp, The Travelers Company, and BNY Mellon.
  • Taiwan’s TSMC reported a net profit of over NT$452 billion for the third quarter, compared to NT$405 billion expected (up more than 39% year-on-year), and a gross margin of 59.5%, versus 57.1% expected and 58.6% in Q2. Operating margins reached 50.6%, exceeding estimates of 47.3%. The company’s revenue grew by 30% year-on-year to NT$989 billion, compared to forecasts of NT$967 billion. CAPEX for the first three quarters of the year totaled nearly USD 29.4 billion.
  • The Fed’s September Beige Book showed that wages increased across all reporting districts. One regional report pointed to downside risks to economic growth in the event of a prolonged government shutdown. Overall economic activity changed little compared to the previous report — three districts reported slight to modest growth, five showed no change, and four indicated a slight softening in activity.
  • During the Asian session, China’s Hang Seng Index fell nearly 0.8%, while Japan’s Nikkei gained over 1.2%. Australia’s ASX rose by almost 0.9% following mixed labor market data. Australia’s unemployment rate for September rose to 4.5% versus 4.3% expected and 4.2% previously, but employment increased by 14.9 thousand jobs, significantly better than the forecast of a 5.4 thousand decline. Similarly, in the Netherlands, the unemployment rate rose to 4.0%, compared to 3.9% expected and 3.9% previously.
  • The EUR/USD pair is posting moderate gains and holds near 1.166, while gold trades flat, still hovering around yesterday’s record highs above USD 4,200 per ounce; silver is down 0.5%. Former President Trump said that India’s Prime Minister Modi agreed to stop importing Russian oil. Following this comment, Brent and WTI prices rose, although today Brent (OIL) is retreating again toward USD 62 per barrel.
  • Trump supported tariffs in yesterday speech and highlighted that currently the US is in a trade war with China. The US president informed that all Democratic programmes the US doesn't need active will be terminally terminated. Addressing India, Trump commented that the country will stop buying Russian oil in the very short period of time. Trump also said that he will support Israel if the Hamas will break the ceasefire in Gaza. The US Treasury Official said that the US government shutdown costs the US $15 billion per week, not per day; Scott Bessent made a mistake in calculations yesterday.
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