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Equity markets turn softer.

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Stock markets had a jitter on Tuesday’s trading as investors awaited the latest economic data and corporate earnings. We will also expect the market to have some headwinds as more Treasury bills hit the market. This has sent yield rising and adding pressure to equity valuation.

On the corporate side, we have pretty solid earnings. Let’s discuss some of these results.

Advanced Micro Devices.

The stock rose sharply after-hours after the chip maker registered an earning marginally above expectation. Investors cheer on the latest update of its AI portfolio and the predictions about the potential market.

As CEO Lisa Su stated, their AI engagements had increased dramatically as customers expanded related AI programs to support future progress. In particular, AMD Instinct accelerators, data chips used for AI applications, are rolling out well.

Good progress will be made as AMD shifts its gear into data centre AI solutions.

Starbucks.

The beverage and coffee chain giant turned in pretty good earnings results. However, stocks wobbled as the sales were still below forecasts. In one metric, same-store sales, the performance has risen by 10% from a year ago, which is slower than the current 11% that most analysts expected.

One particular surprise is Starbuck’s performance in China. It saw revenue jump by 51% annually while same-store sales rose 46%. This is a delightful result given that the management had warned of a weaker environment as it operates around 6400 stores in the country.

It has the ambition to expand the number of chains to 9000 as it remains a favourite coffee chain brand in China, providing a fertile ground for future growth in the region.

What’s on the menu today?

  1. 8.15pm : ADP Nonfarm Employment

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