While Washington flirts with the idea of banning Chinese cooking oil, corporate results are sizzling on both sides of the Atlantic. Investors still wager that Donald Trump and Xi Jinping will eventually find common ground, though they increasingly suspect the road to a deal will be more winding than once hoped. Into this uncertain mix stepped Jerome Powell, who soothed financiers with another dovish turn. And just as nerves began to fray, ASML's stellar earnings gave markets a welcome jolt of optimism, lifting spirits across the semiconductor sector.
