ASML Q4 bookings jump, signals strong AI demand 2026

Wall Street ends Tuesday lower

U.S. equities finished Tuesday in the red, with technology under pressure for much of the session. The Dow Jones Industrial Average fell 130.76 points, or 0.25%, to close at 52,925.15. The S&P 500 ended down 0.45% at 7,503.85. The Nasdaq Composite slid 1.16% to 25,818.69.

Moves within the chip complex were mixed, reflecting a market still sensitive to positioning ahead of key earnings. Nvidia shares were about 1% higher in afternoon trading after reversing earlier losses. At the same time, the broader tone for chipmakers was described as pressured earlier in the day.

A rebound attempt in futures and AI-linked shares

By the next session, stock index futures and cash markets were pointing higher, supported by strength in AI-infrastructure stocks and semiconductors. The S&P 500 was up 0.64%, the Dow was up 0.46%, and the Nasdaq 100 was up 1.15% at the time of the update. March E-mini S&P futures were up 0.60% and March E-mini Nasdaq futures were up 1.22%.

The S&P 500 and Nasdaq 100 were noted to be posting 1.5-week highs. Market commentary also pointed to carryover support from Tuesday after AI startup Anthropic PBC said its new AI tools for its Claude Cowork agent software would integrate with existing systems rather than displace them. Investors were also focused on Nvidia’s earnings after the close to assess whether the surge in artificial intelligence spending is continuing.

Europe: Stoxx 600 slips as sectors diverge

In Europe, the broad Stoxx 600 index finished Tuesday down 0.65%, ending the session in negative territory. Sector performance was not uniform. Media stocks led the gains, up 1.41%, after Comcast-owned Sky agreed to buy U.K. broadcaster ITV’s media and entertainment business.

European travel and leisure stocks rose 1.01% following an EasyJet announcement, according to the market recap. At the same time, the overall benchmark remained lower, underscoring that stock-specific catalysts were driving pockets of strength even as the broader tone stayed cautious.

India: Nifty up, rupee steady

Indian markets opened firmer, with the Nifty 50 rising 0.5% in early trading. In currency markets, the rupee was flat at 95.23 against the U.S. dollar. The move suggested limited immediate currency volatility alongside the early equity uptick.

ASML back in focus after technical rebound

ASML was highlighted as experiencing a resurgence after approaching its 50-day moving average within a consolidation phase. The move followed the release of its first-quarter results, after which analysts raised profit projections for the semiconductor equipment maker. The stock was designated as an IBD50 Growth To Watch.

Separate market updates tied a broader lift in chip sentiment to ASML’s order strength. Nasdaq 100 E-mini futures were described as rising in part due to a notable surge in orders at ASML, which supported the AI sector tone.

ASML’s Q4 bookings: a key datapoint for the sector

ASML’s quarterly order intake became a focal point because it is closely tracked as an indicator of future tool demand. One update said the company recorded Q4 bookings of $15.8 billion, well ahead of the $1.57 billion analysts had expected. Another noted that Q4 orders more than doubled expectations and described it as a record quarter.

The company also announced a $12 billion buyback. CEO Christophe Fouquet referenced “more robust expectations of the sustainability of AI-related demand,” adding that customer optimism was reflected in a step-up in medium-term capacity plans. Separately, ASML announced 1,700 job layoffs, described as 3.8% of its workforce.

Chip stocks and crypto-exposed names lead daily movers

AI-infrastructure stocks and chipmakers were cited as supporting gains in the broader market. Western Digital was up more than 5%, while Lam Research and Seagate Technology Holdings were up more than 4%. KLA Corp and Micron Technology were up more than 3%, and ASML, Analog Devices, Broadcom, and Marvell Technology were up more than 1%.

Risk appetite was also visible in cryptocurrency-exposed stocks as Bitcoin rose more than 4%. Coinbase Global gained more than 5%, Strategy rose more than 4%, and Galaxy Digital Holdings was up more than 3%. MARA Holdings and Riot Platforms were up more than 2%.

Asia: Shanghai and Nikkei advance

In Asia, the Shanghai Composite closed up 0.72% at a 3.5-week high in one market update. Japan’s Nikkei Stock 225 rallied to a new all-time high and finished up 2.20%.

Another update described a session where the Nikkei was weighed down earlier by a significantly stronger yen, which pressured export-driven stocks, before technology shares rallied in the final half-hour following ASML’s strong bookings report.

China’s Nvidia H200 approval and sector earnings context

Semiconductor sentiment was also influenced by reports around China and supply-demand conditions. Reuters reported that China has given major domestic technology firms ByteDance, Alibaba, and Tencent the green light to acquire Nvidia’s H200 system. Separately, updates noted that the semiconductor sector rose after strong results from ASML and SK Hynix, with the VanEck Semiconductor ETF up 1.9%.

SK Hynix shares rose more than 5% after it reported a record profit for the full year of 2025, according to the update. Commentary also pointed to a shortage of memory chips used in consumer electronics and data centers, which has pushed prices higher and benefited memory suppliers.

Key numbers at a glance

Market impact and why ASML matters here

ASML’s bookings strength mattered because it fed directly into expectations for capital spending across the semiconductor supply chain. When order intake significantly exceeds forecasts, markets tend to interpret it as support for equipment demand tied to advanced logic and AI-related capacity expansion. That, in turn, can lift a broad basket of chip stocks and even related AI infrastructure names.

At the same time, price action showed that positive results do not guarantee a straight-line move in every session. One update noted ASML initially rose about 5% in European morning trading but later dipped and closed down 1.9%, illustrating how investors can take profits or reposition even after strong fundamentals.

What investors are watching next

The near-term focus remained on Nvidia’s earnings after the close, with markets using the results to judge the durability of AI spending. Updates also highlighted upbeat signals elsewhere in the semiconductor chain. Taiwan Semiconductor Manufacturing Co. reported a 35% increase in fourth-quarter profit, driven by AI demand, and one report said it planned to raise investment to $16 billion by 2026, while another cited a $14 billion capex plan for 2026.

Those datapoints, along with ASML bookings, were treated as linked signals on the same theme: whether AI infrastructure buildouts are translating into sustained orders across chip design, manufacturing, and equipment.

Conclusion

Tuesday’s declines in the major U.S. averages were followed by a rebound attempt led by chipmakers and AI-infrastructure stocks, with ASML’s strong bookings adding momentum to the theme. European markets were weaker overall even as stock-specific deals supported media and travel names, while India’s Nifty moved higher with a steady rupee. The next major marker for sentiment is Nvidia’s earnings, alongside follow-through in semiconductor orders and capex plans signaled by ASML and TSMC.