On the SPOT™ blog (09/15/2023) [T..]
- Salyl Bhagwat
- Sep 15, 2023
- 3 min read
This morning (PST), all three major US indices are in the red. The main catalyst could be the news coming out of world's largest chip maker TSMC that it has asked vendors to delay the delivery of chip equipment. This has obviously put pressure on tech with more pressure on chip stocks and especially the chip equipment stocks such as ASML, KLAC, AMAT etc. In addition, UAW workers went on a historic strike against the Big Three Detroit automakers (FM, Ford, Stellantis) as the negotiations haven't been successful. All eyes on next week's interest decision and Federal Reserve Chairman's commentary due on Wednesday.