API: US refined product inventories fell 1.458 mln barrels in the week to Oct. 9, versus -2.00 mln expected; prior +0.461 mln.

US consumer inflation rose in September. A surge in AI-driven data‑center construction has boosted demand for semiconductors and other inputs, adding upward price pressure. That limits the effectiveness of Fed rate hikes: higher borrowing costs may not deter hyperscale cloud providers from continuing buildouts given the prospect of large AI-related profits.

JP Morgan analysts say Dutch semiconductor-equipment maker ASML reported a strong Q3 gross margin of 57.5%, above consensus near 56% and above the company guide of 55–57%. Analysts attribute the outperformance mainly to higher-margin revenue from maintenance, retrofit and upgrade services on already-sold lithography tools as customers continue to service and boost existing equipment. ASML sees Q4 gross margin around 57%, roughly 60bps above consensus at 56.4%. JP Morgan notes maintenance and upgrade demand should remain an important margin support as chipmakers optimize existing fabs and raise utilization of advanced-process tools.