Wall Street Today: Nasdaq Comp, S&P 500 and DJIA Up as TSMC's Gains Boost CRWV, AMAT and NVDA

Jerry Kronenberg joined discussion · Jan 15 14:46

The Dow-30, Nasdaq Composite and S&P 500 rose Thursday as Taiwan Semiconductor's well-received earnings drove Applied Materials, Lam Research, AMD and other techs higher, while Goldman Sachs and Morgan Stanley rallied as well following Q4 results.

The $Dow Jones Industrial Average (.DJI.US)$ gained 292.81 points (0.6%) to a 49,442.44 close, while the $S&P 500 Index (.SPX.US)$ added 17.87 ticks (0.26%) to 6,944.47 and the $Nasdaq Composite Index (.IXIC.US)$ improved by 58.27 points (0.25%) to 23,530.02.

The three indexes rose in part as a post-earnings rally for $Taiwan Semiconductor (TSM.US)$ (up 4.4%) and word it plans higher-than-expected capital spending pushed the broader tech sector upward.

Major tech winners included $SEALSQ Corp (LAES.US)$ (up 7.9%), $CoreWeave (CRWV.US)$ (ahead 5.8%), $Applied Materials (AMAT.US)$ (up 5.7%), $SanDisk (SNDK.US)$ (5.5% firmer), $ASML Holding (ASML.US)$ (5.4% higher), $Lam Research (LRCX.US)$ (4.2% better) and $Super Micro Computer (SMCI.US)$ (4.1% better).

$NVIDIA (NVDA.US)$ (2.1% higher) and $Advanced Micro Devices (AMD.US)$ (up 1.9%) also added lesser percentage amounts.

Meanwhile, $Goldman Sachs (GS.US)$ – a key Dow-30 and S&P 500 member – gained 4.6% on well-regarded Q4 results, while S&P 500 component $Morgan Stanley (MS.US)$ added 5.8% following earnings and revenue beats.

In economic news, U.S. jobless claims came in a 198,000 for the week ended Jan. 10, below the 215,000 that economists expected. That partly allayed fears that the U.S. economy could be weakening.

Separately, West Texas Intermediate crude-oil futures for February delivery fell 4.4% to $59.29 a barrel at last check on U.S. President Donald Trump taking a softer tone on potential military action against petroleum-rich Iran amid anti-government protests there. That could help lessen U.S. inflation concerns.

However, the lower U.S.-Iran tensions helped push down cryptocurrencies, which investors sometimes use as a risk-hedge in times of geopolitical troubles. Cryptos also fell in part on postponement of a U.S. Senate hearing on the proposed Clarity Act, which aims to modernize U.S. cryptocurrency rules.

$Bitcoin (BTC.CC)$, which had hit a two-month high on Wednesday, fell back 2.3% to $95,277.07 as of shortly before 4:15 p.m. New York time on Thursday.

Similarly, $Ethereum (ETH.CC)$ gave up 2.6% to $3,289.50, $Solana (SOL.CC)$ shed 4% to $141.52 and $Ripple (XRP.CC)$ lost 3.8% to $2.07.

Moo-vers

The "Magnificent Seven" stocks only partly followed the broad-market indexes higher.

Just three Mag-7 names gained ground – $NVIDIA (NVDA.US)$ and its aforementioned 2.1% gain, plus $Meta Platforms (META.US)$ (up 0.9%) and $Amazon (AMZN.US)$ (0.6% better).

Four Mag-7 stocks ended the session weaker: $Alphabet-A (GOOGL.US)$ (down 0.9%), $Apple (AAPL.US)$ (0.7% weaker), $Microsoft (MSFT.US)$ (off 0.6%) and $Tesla (TSLA.US)$ (which eased 0.1%).

Elsewhere on Wall Street, Thursday's noteworthy percentage decliners included:

-- Select cryptocurrency stocks, which eased on $Bitcoin (BTC.CC)$ and other cryptos' pullback. Losers included $Circle (CRCL.US)$ (off 9.7%), $Robinhood (HOOD.US)$ (7.8% weaker), $Coinbase (COIN.US)$ (6.5% lower), $Bitmine Immersion Technologies (BMNR.US)$ (down 5.5%), $Strategy (MSTR.US)$ (which shed 4.7%) and $Applied Digital (APLD.US)$ (which eased 2.4%).

-- $Critical Metals (CRML.US)$, down 3.7%. CRML, which is developing a rare-earth-metals mine in Greenland, retrenched after rising 32.5% Wednesday on positive tests at the site. Rival rare-earths firm $MP Materials (MP.US)$ eased X% in apparent sympathy.

Conversely, the day's major percentage gainers included:

-- $Figure Technology Solutions (FIGR.US)$, which gained 16.4% to $64.96. The fintech rose after Pipe Sandler boosted the stock's price target to $75 from a previous $55 after FIGR pre-released some results earlier this week, showing stronger-than-expected consumer-loan volumes.

-- $Rezolve AI (RZLV.US)$, up 14%. The AI-power commerce-solutions firm continued an uneven recovery that it's seen since hitting a $2.19 near-term low on Dec. 18. Shares closed Thursday at $4.63, up 111.4% from its Dec. 18 bottom.

Wall Street Today: Nasdaq Comp, S&P 500 and DJIA Up as TSMC's Gains Boost CRWV, AMAT and NVDA

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