Daily Market Report – July 15, 2026

Markets

European stock markets are trending slightly weaker by midweek. The DAX (DAX), the STOXX Europe 600 (SXXP), and the Euro Stoxx 50 (SX5E) are weighed down by tensions in the Middle East and high oil prices. The strength of semiconductor stocks is preventing more significant losses so far.

On Wall Street, declining inflation concerns led to price gains on Tuesday. The S&P 500 (SPX) rose by 0.4 percent, while the Nasdaq Composite (IXIC) increased by 0.9 percent. In pre-market trading, semiconductor stocks remain particularly sought after, while the earnings season increasingly differentiates the performance of individual companies.

Brent Crude Oil (UKOIL) continues to trade above 85 dollars per barrel. This brings two opposing forces into play: lower American consumer prices ease interest rate expectations, but higher energy costs increase the risk of a renewed inflation surge.

Companies

At the center is ASML (ASML). The Dutch equipment manufacturer increased revenue in the second quarter to 9.3 billion euros and net profit to 2.9 billion euros. The gross margin reached 54 percent. For the entire year, ASML now expects revenues between 43 and 45 billion euros as well as a gross margin of 54 to 56 percent. The stock is rising significantly.

The forecast upgrade confirms that the investment wave in AI data centers is now arriving with full force at the equipment manufacturers of the semiconductor industry. ASML expects revenue of between 11 and 12 billion euros for the third quarter alone. The technological special position in EUV lithography gives the company pricing power that only a few suppliers possess.

The announcement also benefits ASM International ASM) and Soitec SOI). Investors are betting that spending on cutting-edge logic chips, memory, and data centers will remain high for several years. This shifts the focus increasingly from the general AI narrative to companies that provide essential production tools.

Also, Richemont (CFR) impresses. The Cartier parent company increased revenue in the first fiscal quarter at constant exchange rates by 20 percent. Particularly, the jewelry business as well as demand in America and Asia developed strongly. The figures show that leading luxury brands can compensate for the weak Chinese domestic economy through market share gains and regional diversification.

Weaker trends are seen in classic software stocks such as SAP (SAP), Dassault Systèmes (DSY), and Sage Group (SGE). The price drop of IBM (IBM) is a burden. Investors are increasingly questioning whether traditional software providers will generate additional AI revenues or if customers will shift their budgets in favor of chips, storage, and data centers.

In the further course of the day, the results of Morgan Stanley (MS), BlackRock (BLK), and Johnson & Johnson (JNJ) will be in the spotlight. Following the strong numbers from Goldman Sachs and JPMorgan, there will be particular attention on investment banking, trading revenues, and inflows in the financial sector.

Macroeconomics

American consumer prices fell by 0.4 percent in June compared to the previous month, according to the Bureau of Labor Statistics. Year-over-year, the inflation rate was 3.5 percent. The core rate excluding food and energy remained unchanged month-over-month and decreased to 2.6 percent. The decline in energy prices by 5.7 percent particularly weighed on overall inflation.

China's economy grew by 4.7 percent in the first half of the year, according to the National Bureau of Statistics of China. In the second quarter, growth slowed to 4.3 percent. While industry and exports remained relatively robust, weak consumption, declining investments, and the ongoing real estate crisis weighed on the economy.

At 8:30 AM Eastern Time, the Bureau of Labor Statistics will release the American producer prices for June. In the evening, the Beige Book of the Federal Reserve will follow. Both reports will show whether the lower consumer price pressure is also confirmed among companies and in individual economic regions.