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.
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
$Gold Futures(DEC4) (GCmain.US)$ 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.
$Taiwan Semiconductor (TSM.US)$ 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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Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
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Coach Donnie : Who here likes $Taiwan Semiconductor (TSM.US)$
Adrianlim90 : good
Adrianlim90 : good
章允量 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
71425273 Coach Donnie : There’s no good news about ASML, so they try to use TSM to talk. The stock is over
Coach Donnie : Have y’all seen Changing World Order by Ray Dalio recently
Extremely important
Coach Donnie 71425273 : Is it possible that in your infinite wisdom, you’re wrong this one time
73372627 71425273 : Do you really understand how the technology and the stocks work???? 2 cm short vision of the shorters or negative peoples do not allign with.
71425273 73372627 : The fact is they are losing 40% of their business. What else do I need to say?
73372627 71425273 : Who say they loose 40%???? Do you know the following contracts they has with Europe??, Samsung, TSM, Intel????
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