Live Markets-This AI, it will make a profit, right?

All eyes now turn to today's second-quarter earnings from Taiwan Semiconductor Manufacturing Co (TSMC) 2330.TW, the world's foundry king for the advanced chips that Nvidia NVDA.O sells to power the AI revolution.

Expectations are for a nearly 60% surge in net profit for the quarter, and even if the chip giant beats that it may not be enough. It will take a flawless report, coupled with more than rosy guidance, to avoid being punished. Just look at ASML's results.

While the rotation from memory and hardware has left most Asian share markets in the red, European futures seem less troubled, heading for a flat open.

Wall Street futures were 0.1% higher, after a stronger session overnight thanks to cooler inflation and robust bank earnings. Results from Netflix, GE and a few banks, including U.S. Bancorp and State Street, are due later.