CHIP AND MEGACAP STOCKS POWER GAINS ON NASDAQ AND S&P 500

The benchmark Nasdaq and S&P 500 jumped on Thursday, recouping recent losses on a boost from chip and megacap stocks, as investors scouted for clues on whether the Fed's rate cuts were imminent and assessed a mixed bag of corporate earnings. U.S.-listed shares of Taiwan Semiconductor Manufacturing (TSMC) jumped 8.0%, after the world's largest contract semiconductor maker projected a more-than 20% growth in 2024 revenue, on booming demand for high-end chips used in artificial intelligence applications.

Learn More