MARKET UPDATE: Risk aversion seen across asset classes as Europe reacts to several macro/notable updates (see body of headline for details)

MAJOR HEADLINES

• White House said President Trump signed an order launching an investigation into national security risks posed by US reliance on imported processed critical minerals and their derivative products.


• 
  NVIDIA (NVDA) expects USD 5.5bln in charges in Q1 FY2026 related to H20 products after the US informed the Co. it requires a licence to export those chips to China.


• 
  ASML (ASML NA) missed on Q1 revenue expectations, whilst bookings were notably softer than expected (3.94bln vs exp. 4.82bln) and Q2 margin outlook is sub-par (Gross Margin 50-52%  vs exp. 52.3%). This, coupled with the NVIDIA news above and amidst ASML's warnings of trade uncertainty ahead, may hit the stock on the open. On the flip side, Co. beat on Net Income, raised annual dividend by almost 5%, and affirmed FY guidance.

PRICE ACTION HEADING INTO EUROPEAN OPEN

• Downside across stock futures, ES -1.4%; Euro Stoxx 50 -1.4% (vs. -1.1% & -1.0% respectively at 06:20BST)


• Downside in DXY, hit session lows of 99.60 at the time of writing (vs. 99.67 at 06:20BST)


• Spot gold continues grinding higher, printing fresh record of USD 3291.68 at the time of writing.


• Upticks seen across fixed income.


• Crude slipped ~USD 0.80/bbl to fresh session lows with losses of c. 0.70/bbl on the session at the time (vs. downside of -0.15/bbl at 06:20BST)


• Modest downside in crypto.

16 Apr 2025 - 06:32- EquitiesImportant- Source: Newsquawk