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TSM's stock hit a new high. Can AI demand really last for years as the CEO claimed?
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TSMC Leads the Market Higher Into Netflix Earnings Beat | Wall Street Today

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Kevin Travers joined discussion · Oct 18 04:28
TSMC Leads the Market Higher Into Netflix Earnings Beat | Wall Street Today
The market climbed on Taiwan Semiconductor-led industry enthusiasm, pushing the S&P 500 and Dow to trading highs, before pulling back in the afternoon.
Just past 4:10 PM ET the $S&P 500 Index (.SPX.US)$ is off -0.02%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.37%, and the $Nasdaq Composite Index (.IXIC.US)$ was up 0.04%.
MACRO
In macro, core retail sales grew month over month, initial jobless claims lowered from their hot 260k pace last week, and manufacturing in Philidelphia grew over the past month.
TSMC Leads the Market Higher Into Netflix Earnings Beat | Wall Street Today
On Thursday, the U.S. Census Bureau reported that September retail sales rose by 0.4% from August, up from a 0.1% rise a month earlier and ahead of the consensus estimate for a 0.3% gain.
Mary Daly, president of the SF Fed, told reporters Tuesday that strong economic data does not mean inflation is on its way back. Speaking to a New York University crowd, Daly said she would support taking a break from cuts for a meeting or two.
Minneapolis Fed President Neel Kashkari said at a Tuesday bank conference that the neutral rate must be higher after aggressive rate cuts failed to cause a recession in 2022 and 2023. Seeking Alpha reported he was unsure of the way forward besides gradually lowering rates over the next few quarters.
Monday, Fed Gov. Chris Waller said the economy is much stronger than previously thought, and the labor market remains quite healthy, speaking at Stanford University in California. According to MarketWatch, Waller noted that the Fed and Wall Street had been fooled by reports over the summer that indicated the economy was slowing.
SECTORS
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed a little but remained at $70/barrel.
TSMC Leads the Market Higher Into Netflix Earnings Beat | Wall Street Today
$Gold Futures(FEB5) (GCmain.US)$ was last seen up $16.00 to $2,707.30 per ounce, topping the Sept 26 record close of $2,694.90.
"Gold holds near record highs, supported by worries about fiscal instability, safe-haven appeal, geopolitical tensions, de-dollarization, uncertainties surrounding the US presidential election, and incoming rate cuts lowering the cost of holding bullion," Saxo Bank told MT Newswires.
MOOVERS
$Netflix (NFLX.US)$ reported Q3 earnings of $5.40/share, vs estimates of $5.12/share, on revenue of $9.83B vs estimates of $9.78B. Investors watched net new subscriber numbers closely, coming in at 5.07M vs estimates of 4.52M.
TSMC Leads the Market Higher Into Netflix Earnings Beat | Wall Street Today
$Taiwan Semiconductor (TSM.US)$ climbed 12% after opening, bringing the Taiwan giant to a valuation of over $1T after the firm reported earnings above estimates and a 54% climb in net profit on semiconductor chip sales to $325.26B Tawain dollars, or $10B.
On the news, the semiconductor stocks were climbing, especially after ASML showed that not all chip-related companies were flourishing. $Arm Holdings (ARM.US)$ climbed 2%, $NVIDIA (NVDA.US)$ climbed 2%, while software company $Broadcom (AVGO.US)$ climbed 3% and led the Nasdaq 100 higher.
$The Travelers Companies (TRV.US)$ jumped 8% after the insurer reported net income more than tripled Thursday, to $1.26 billion, or $5.42 a share, from $404 million, or $1.74 a share in the same period a year ago. It was the highest-gaining stock on the S&P 500
$Phunware (PHUN.US)$ rose more than 20% intraday Thursday as the advertising-technology firm's shares extended yet again a rally that has seen the Donald Trump-related company gain more than 170% in less than a month.
$Trump Media & Technology (DJT.US)$ – parent of Trump's Twitter rival Truth Social – was trading 5.3% lower at $29.62 heading into the market's 4 p.m. ET close after three weeks of mostly rising. However, shares are still up some 150% since hitting an $11.75 near-term low on Sept. 23.
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