The Rundown ASML Signals More AI Spending, Amazon Cuts 16,000 Jobs
10 snips
Jan 28, 2026 Markets react to a sliding US dollar and a key Fed meeting. ASML posts record AI-driven orders and adjusts its workforce. China clears Nvidia H200 chip sales to big tech. Amazon announces 16,000 corporate job cuts while boosting AI capital plans. Starbucks sees first traffic growth in two years and Corning lands a massive AI fiber deal.
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Monitor Powell For Market Signals
- Watch the Fed meeting and Jerome Powell's press conference for market-moving guidance.
- Tune into real-time reactions since markets expect no rate cut but will react to Powell's tone and outlook.
Dollar Slide Has Mixed Effects
- The US dollar fell about 2.6% over four trading days, its largest drop since last April.
- A weaker dollar helps exporters but makes imports and travel more expensive for Americans.
AI Demand Powers ASML's Surge
- ASML's record orders show AI demand is driving chip-equipment spending at scale.
- Management says customers now view AI-driven demand as sustainable and are building capacity aggressively.