Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.
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Stocks rose on Thursday, recovering from consecutive losses as semiconductor and banking stocks rebounded.
of Dow Jones Industrial Average It rose 323 points, or 0.7%, led by gains in Goldman Sachs and Nvidia. of S&P500 While it rose by 0.4%, Nasdaq Composite It advanced by 0.4%.
Chipplay then leads the market taiwan semiconductor also announced a record quarter and said it expects capital spending to increase from $52 billion to $56 billion in 2026. The outlook signals confidence in building artificial intelligence by the world’s largest contract chipmaker. The stock price rose more than 6%. of VanEck Semiconductor ETF (SMH) 3% increase; Nvidia and micron technology Add at least 2% each.
“Taiwan Semi’s results today, and more importantly its capital investment plans, reassure investors that AI trading is not necessarily a bubble at this point,” said Kim Forrest, investment director at Bork Capital Partners. “They’re going to spend a lot of money to increase capacity.”
Bank stocks rose after recent strong quarterly results. goldman sachs Fourth-quarter profits rose 4%, beating Wall Street expectations. morgan stanley The company rose nearly 6% as its wealth management division contributed to fourth-quarter sales and bottom-line growth. Both stocks hit new 52-week highs.
Lower oil prices also helped the market, with Brent crude futures and front-end West Texas Intermediate crude both down more than 4%.
The latest economic indicators also show that the job market is strong. The number of jobless claims for the week ending January 10 was 198,000, lower than the 215,000 expected by economists compiled by Dow Jones.
Thursday’s resurgence came on the heels of a second consecutive losing streak on Wall Street after a flurry of political headlines about rising risks in Iran and Greenland and the future of the Federal Reserve’s independence weighed on investor sentiment.
Nvidia came under pressure earlier this week after Reuters reported that Chinese customs authorities told customs officials this week to ban the company’s H200 chips from entering the country, citing people briefed on the matter. The chipmaker has since recovered.
