Dow Notches Another Record
US stocks finished mixed on Thursday, with semiconductor shares driving the gains after strong corporate and economic news.
The S&P 500 closed marginally lower after briefly touching a new record, the Dow Jones gained 161 points after hitting all time high of the 43,272 mark, and the Nasdaq 100 was slightly higher. Nvidia advanced 0.9% while hit intraday record high after its key supplier, Taiwan Semiconductor (TSMC), posted robust Q3 earnings and raised its revenue outlook. TSMC’s shares spiked 10%, lifting other chipmakers like Broadcom (1.7%).
The tech-driven rally helped US indices approach record levels, reversing some recent market jitters over AI chip demand.
Strong retail sales data for September, showing a 0.4% rise, further bolstered sentiment. Additionally, jobless claims came in lower than forecast, reinforcing the view that consumer spending remains resilient. Traders are now turning their attention to upcoming Big Tech earnings, with Netflix set to report after the bell.
Source: Trading Economics
