ASML Holding NV, a Dutch chip equipment manufacturer, reported strong Q2 sales exceeding €6bn driven by increased AI chip demand.

ASML saw a 24% YoY rise in net bookings for its extreme ultraviolet lithography machines, reaching €5.6bn.

Despite US export restriction concerns, ASML remains optimistic about future revenue, with Chinese chip manufacturers as major buyers.

On July 17, 2024, the S&P 500 dropped 1.4% due to concerns over export restrictions on semiconductor equipment impacting the tech sector.

Shares of semiconductor providers like Applied Materials, Lam Research, KLA Corp, and chipmaker AMD experienced heavy losses.

Vistra Corp. and GE Vernova saw significant stock declines, while Solventum, a health care firm spun off from 3M, performed best in the S&P 500.

Prologis exceeded Q2 estimates with core funds from operations at $1.34 per share, leveraging growth in data centers and energy businesses.

Prologis CEO Hamid Moghadam expressed confidence in future growth, raising full-year 2024 FFO guidance.

The market outlook remains mixed, influenced by potential chip-making equipment export restrictions to China, political uncertainties, and US housing starts.

Investors are advised to consider a protection band strategy to manage market risks and opportunities.

Prologis expects higher full-year earnings per share and core FFO per share, with shares rising 1.4% on Wednesday.

FMC Corp. advanced after appointing a new board member with extensive food and agriculture experience.