ASML smashes Q2 estimates and hikes its FY guidance as huge A.I. demand offsets disappointing performance in the Chinese market. President Trump reverses his call for fees on tankers leaving the Strait of Hormuz under U.S. naval protection following investment pledges from GCC nations as a means of compensation. U.S. CPI slows more than expected as energy prices fall. Newly appointed Federal Reserve Chairman Kevin Warsh makes his first Congressional appearance and promises to keep his position independent from the White House while bringing down inflation. In luxury news, Richemont enjoys a 20 per cent boost in sales, beating estimates from Q1 with strong growth seen across the Americas and Asia.

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