Lucas Cheah : $Taiwan Semiconductor (TSM.US)$  is positioned for solid earnings growth, driven by global demand for semiconductors in AI, 5G, and automotive sectors. The company’s leadership in advanced chip manufacturing (5nm and 3nm nodes) secures major clients like Apple and Nvidia. However, risks include geopolitical tensions and high capital expenditure for expanding production capacity. TSM's focus on cutting-edge technologies supports long-term revenue growth despite short-term challenges.
$Goldman Sachs (GS.US)$  benefits from higher interest rates, boosting net interest income, and strong performance in asset and wealth management divisions. However, slower deal activity and market volatility have pressured its investment banking revenue. Despite short-term challenges, Goldman’s diversified business model and exposure to capital markets position it for future growth as market conditions stabilize.
$Netflix (NFLX.US)$ has seen a resurgence in subscriber growth due to successful content releases and its introduction of an ad-supported tier. This new revenue stream and potential international expansion bolster its earnings outlook. However, increasing competition from other streaming platforms and rising content costs could pressure margins. Still, Netflix’s content strategy and global reach provide a positive earnings outlook.
$ASML Holding (ASML.US)$ , the leading supplier of advanced lithography equipment for semiconductor manufacturing, is experiencing strong demand due to its critical role in producing cutting-edge chips (EUV lithography). The company is capitalizing on semiconductor expansion globally, especially in advanced processes like 3nm. Despite supply chain risks and high CapEx, ASML’s unique market position and technological edge give it robust long-term earnings potential.

Lucas Cheah : TSM, the world's leading semiconductor foundry, has strong earnings prospects driven by several key factors:
1. Global Semiconductor Demand: The demand for semiconductors remains high across industries, including smartphones, data centers, and automotive. TSM’s leadership in advanced node technology (such as 5nm and 3nm processes) positions it to benefit from this sustained demand, especially in sectors like AI, 5G, and high-performance computing.
2. Expansion into Advanced Technologies: TSM continues to lead in cutting-edge chip manufacturing, with plans to ramp up production of 3nm chips. This will drive future revenue growth as companies like Apple, Nvidia, and AMD rely on TSM for next-generation processors.
3. Geopolitical Risks: Although TSM is poised for solid growth, the company faces risks from geopolitical tensions between the U.S. and China and potential disruptions in Taiwan. However, its diversification efforts, such as building fabs in the U.S. and Japan, help mitigate some of these risks.
4. CapEx and Expansion: TSM plans to invest significantly in expanding its production capacity, which supports its long-term growth and pressures short-term margins.
In summary, TSM’s earnings outlook is strong, underpinned by continued global demand for semiconductors and its leadership in advanced technology nodes, but it faces geopolitical and margin risks from expansion.

Lucas Cheah : The robust earnings reports from both JPM and Wells Fargo indicate a favorable near-term outlook for the banking sector, driven by factors such as higher interest rates boosting net interest income (NII) and resilience in loan demand.
Both JPM and Wells Fargo have reported significant growth in net interest income (NII), driven by the Federal Reserve's continued interest rate hikes. Higher interest rates increase the difference between what banks earn on loans and what they pay on deposits, directly improving profitability.
Despite concerns about rising borrowing costs, loan demand has remained relatively strong, particularly in sectors like housing, credit cards, and small business lending. JPM’s diverse loan portfolio and Wells Fargo’s large mortgage business are key beneficiaries.
As for whether we are "finally back," the answer is nuanced. Banks are indeed showing resilience, but full recovery in the broader economy depends on a delicate balance between managing inflation, avoiding a deep recession, and ensuring financial stability. Therefore, while the earnings reports are encouraging, caution is warranted, and the next few months will be critical in determining whether the economy—and the financial sector—can maintain this momentum.

Lucas Cheah : $JPMorgan (JPM.US)$ , as the largest U.S. bank, is well-positioned for growth due to rising interest rates, which increase net interest income (NII). Strong performances in the corporate and investment banking segments are driving earnings growth, while its large consumer banking franchise continues to benefit from economic resilience. However, the bank faces potential headwinds from regulatory changes, higher credit losses if the economy slows, and market volatility. Despite these risks, JPMorgan's diversified business model and strong capital base make its earnings outlook favorable.

Lucas Cheah : Here's a detailed analysis of $Delta Air Lines (DAL.US)$ ’ earnings prospects, considering both tailwinds and challenges that could impact the airline's financial performance.
1. Pricing Power
Strengths:
• Pricing Power: Delta has passed on some of its rising costs to customers through higher ticket prices, especially in an environment where demand has outstripped supply.
Risks:
• Sustainability of Higher Ticket Prices: While pricing power has been strong in the current market, it is uncertain whether Delta can maintain high ticket prices if demand begins to soften or if competitors aggressively expand capacity.
2. International Expansion
Strengths:
• Partnerships and Alliances: Delta’s partnerships and joint ventures with international airlines, including Air France-KLM, Virgin Atlantic, and LATAM, allow it to expand its global footprint and capture a larger share of international traffic.
Risks:
• Geopolitical Tensions: Ongoing geopolitical issues, particularly in Europe and Asia, threaten international travel demand.
• Currency Risk: As Delta generates a substantial portion of its revenue from international markets, fluctuations in foreign exchange rates could affect its earnings.
3. Environmental, Social, and Governance (ESG)
Strengths:
• Sustainability Initiatives: Delta has made substantial investments in sustainability, including pledging to achieve net-zero carbon emissions by 2050.
Risks:
• Regulatory Costs: As governments worldwide impose stricter environmental regulations, airlines may face higher operational costs related to carbon emissions compliance.
Overall, Delta Air Lines’ earnings prospects are positive. Still, the company must carefully manage its cost structure and continue executing its growth strategies to sustain profitability in a challenging economic environment.

Lucas Cheah : $Delta Air Lines (DAL.US)$  is benefiting from strong demand for travel as the airline industry recovers from the pandemic. The company has regained pricing power, especially in premium travel and international routes, which is boosting revenue. However, rising fuel costs and inflationary pressures remain challenges. While business travel continues to recover, any potential economic slowdown could dampen demand. Overall, Delta's earnings prospects remain positive, but heavily influenced by fuel prices and macroeconomic conditions.
$JPMorgan (JPM.US)$ , as the largest U.S. bank, is well-positioned for growth due to rising interest rates, which increase net interest income (NII). Strong performances in the corporate and investment banking segments are driving earnings growth, while its large consumer banking franchise continues to benefit from economic resilience. However, the bank faces potential headwinds from regulatory changes, higher credit losses if the economy slows, and market volatility. Despite these risks, JPMorgan's diversified business model and strong capital base make its earnings outlook favorable.
$Wells Fargo & Co (WFC.US)$  is benefiting from higher interest rates, which are boosting net interest margins. The bank has been focusing on cost-cutting and restructuring efforts to improve profitability following its regulatory issues. However, it still faces challenges from regulatory constraints and possible loan losses in a slowing economy. Despite these concerns, Wells Fargo’s strong deposit base and improved efficiency efforts provide a solid foundation for future earnings growth.

Lucas Cheah : Earnings next week can potentially keep the volatile October trend going due to:
1. Macroeconomic Environment: The Federal Reserve's actions regarding interest rates are still significant, and markets are carefully watching how corporate earnings reflect the impact of tighter monetary policy.
2. Sector-Specific Performance: Sectors like technology, consumer discretionary, and financials may face the most scrutiny, as they are more exposed to fluctuations in consumer spending and interest rates.
3. Market Sensitivity: Due to heightened uncertainty, the market is currently reacting more dramatically to earnings surprises—both positive and negative.
This season's earnings results may make up for last season's mixed bag, but much depends on the strength of specific sectors and individual companies due to:
1. Cost-Cutting and Adaptation: Companies have had more time to adjust to higher interest rates and supply chain challenges.
2. Stronger Dollar Impact Easing: Last season, a strong U.S. dollar weighed heavily on the earnings of multinational companies, particularly those in the technology and industrial sectors.
3. Consumer Resilience: Despite inflationary pressures, the consumer sector has remained relatively resilient, especially in areas like travel, dining, and experiences.
In summary, while next week’s earnings could provide a clearer sense of direction, they will likely keep the volatile October trend going due to macroeconomic uncertainties, sector-specific challenges, and investor sensitivity to surprises. Whether this season’s earnings compensate for last season’s mixed results depends heavily on how companies have adapted to inflation, interest rates, and consumer demand.

Lucas Cheah : Here is a comprehensive analysis of the earning prospects for $Carnival (CCL.US)$ $Nike (NKE.US)$ and $Conagra Brands (CAG.US)$
1. $Carnival (CCL.US)$
• Revenue Growth: Carnival has experienced revenue growth quarter over quarter, largely driven by increased occupancy and higher ticket prices as customers are willing to pay premiums for cruises after prolonged lockdowns.
• Outlook: Carnival is optimistic about sustained demand through 2024, but external risks like economic slowdowns or further geopolitical tensions (e.g., conflict affecting travel routes) could pose risks to its recovery. Continued cost control and increased pricing power will be critical for earnings growth.
2. $Nike (NKE.US)$
• Challenges: Ongoing supply chain disruptions, particularly in Asia, inflationary pressures on raw materials, and increasing labor costs may impact near-term earnings.
• Outlook: Nike is expected to post solid earnings growth, driven by strong demand for its innovative products and its shift to more profitable digital sales channels. Its long-term growth remains intact as the company leads in sports apparel innovation and global expansion.
3. $Conagra Brands (CAG.US)$
• Consumer Behavior Shifts: As inflation has impacted consumers, there’s been a trend toward eating at home, benefiting Conagra’s frozen and packaged food products.
• Outlook: Despite near-term inflationary challenges, Conagra's strong portfolio of well-known brands and its ability to pass along price increases position it for steady earnings growth. Its focus on innovation and health trends is likely to drive longer-term revenue growth.

Lucas Cheah : My most anticipated event in the coming trading month is the US Vice President Debate on 10/1.
I plan to closely follow the event and analyze the key talking points that may influence market sentiment. I will be particularly attentive to discussions around economic policies, trade, and regulatory frameworks, as these can impact specific sectors or the broader stock market. Depending on the debate's outcome and market reaction, I may adjust my portfolio or seek opportunities to capitalize on market shifts driven by the event. Monitoring public perception and potential policy changes will be crucial for making informed investment decisions.