Technology stocks led Wall Street higher as Taiwan Semiconductor Manufacturing Co. reported better-than-expected quarterly profits. The semiconductor giant’s positive outlook for AI chip demand boosted market sentiment, particularly for companies like Nvidia that rely on TSMC’s manufacturing.
Market Performance and Key Movers
Major stock indices posted modest gains in recent trading, with technology shares leading the advance according to market reports. The S&P 500 reportedly rose 0.4%, though analysts noted trading has been erratic throughout the week with repeated swings between gains and losses. The Dow Jones Industrial Average was up 85 points, or 0.2%, as of 11 a.m. Eastern time, while the Nasdaq composite showed stronger performance with a 0.7% increase.