US stocks edged higher as chipmaking equipment producer ASML (ASML) sent a bullish signal on AI demand and a softer-than-expected wholesale inflation reading followed Tuesday’s cool consumer price report.
The Dow Jones Industrial Average rose about 0.2%, while the S&P 500 put on 0.3%. The Nasdaq Composite added 0.6% as stocks built on gains from the day before.Tech stocks rose after ASML lifted its annual sales forecast above Wall Street forecasts, citing AI demand, and said it plans to increase its production capacity for chipmaking equipment by 30%, which soothed some concerns about bottlenecks in the chip supply chain.
That helped offset pressure from rising oil prices as President Trump said he would intensify attacks on Iran until the country relents. “We’re going to knock out all of their bridges unless they get to the table and negotiate,” Trump told Fox News on Tuesday, per Bloomberg.
