While market participants are looking toward current earnings reports to shift focus back to fundamentals, broader sentiment remains defensive. ASML shares dropped 0.41% during the session, erasing early gains despite the company’s optimistic sales forecast for 2026. This sensitivity to external shocks reflects a wider anxiety regarding the U.S.-Iran conflict, which Michael Metcalfe of State Street identified as a significant, lingering risk to current valuations.
The European Central Bank continues to monitor interest rate policy with heightened caution, balancing economic stability against global volatility. At the same time, Germany’s commitment to increased defense spending offers a potential buffer for the regional economy, though the lingering effects of energy-related headwinds continue to temper expectations for a more robust rally.
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