ASML CEO Weighs in After Strong Results; Chips are Up, Bags are Down | The Opening Trade 1/28/2026

European chip stocks surge after ASML smashes expectations in its latest numbers. The continent’s most valuable company benefited from the rapid development of artificial intelligence infrastructure, which boosted demand for its cutting-edge chip-making machines. ASML’s CEO told the Opening Trade that he believes in the sustainability of AI demand. Meanwhile luxury stocks drop after LVMH dims hopes of an imminent rebound in the sector with a disappointing set of results. Plus, Donald Trump raises the prospect of continuing weakness in the dollar with his latest comments. Markets look ahead to Fed Chair Jay Powell’s first decision day press conference since the grand jury subpoena.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:00:23 – Market Check, New Gold Record
00:01:32 – Trump Not Concerned About Dollar Drop
00:03:22 – ASML CEO on Earnings, Stock Growth
00:08:22 – Surprised by Magnitude of AI: ASML CEO
00:15:50 – Fed Rates
00:16:26 – Softbank in Talks to Invest $30B More in OpenAI
00:20:42 – LVMH Luxury Sales Drop
00:26:32 – France Finance and Economy Minister on French Budget
00:39:51 – Dollar Will Move On From Trump Comments: 3-Minutes MLIV
00:46:54 – Stocks to Watch: ASML, LVMH, Volvo Truck
01:06:17 – ASML Smashes Estimates
01:14:37 – Tether Shakes Up Gold Market
01:14:59 – Sword Health CEO on AI
01:32:11 – Fed Chair Powell’s Press Conference
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