US stock futures trade flat: 5 things to know before Wall Street opens on Oct. 12

Impact · against what's priced in

The reported AI-related news is largely a wash for TSM and ASML as the market has already baked in record results and existing guidance, leaving the price sensitive only to unexpected guidance raises. IREN's cloud agreement with Anthropic provides a concrete data point toward the high-margin revenue conversion the market currently refuses to price in.

IREN+0.30

Challenges what's priced in

The price assumes