Wall Street rises following positive economic data and a strong report from TSM.

Investors are gearing up for Netflix’s quarterly results, expected after market close, which will reveal whether its crackdown on password sharing continues to drive subscriber growth.

All three major Wall Street indices are trading higher on Thursday morning, buoyed by fresh earnings reports. Leading the market is Taiwan Semiconductor Manufacturing (TSM), a key supplier to Nvidia, which exceeded expectations.

The Dow Jones Industrial Average, comprising 30 blue-chip stocks, is up 0.33% at 43,218.60 points. The S&P 500 has gained 0.32% to reach 5,861.30, while the Nasdaq Composite is rising 0.53%, standing at 18,464.96.

Positive retail sales data this morning helped ease concerns about a potential economic slowdown. Additionally, the number of new weekly unemployment claims dropped unexpectedly by 19,000, landing at 241,000.

SPX

Among these favorable indicators, TSM reported a 54% year-over-year surge in third-quarter profits, setting a record at $10.1 billion, driven by strong demand linked to artificial intelligence.

TSM shares jumped 12.25%, with Nvidia following suit, gaining over 3%. Meanwhile, Apple rose 0.38%, maintaining its status as the largest company by market cap, while Microsoft advanced 0.55%, holding steady in third place.

By sector, technology (+1%) and energy (+0.73%) are leading gains, while real estate (-0.53%) lags. Within the Dow Jones, Travelers (+6.87%) and Intel (+1.66%) are top performers, while UnitedHealth (-1.31%) is among the day’s biggest losers.

All eyes will be on Netflix later today as it reports its latest quarterly results. Investors are particularly focused on how its password-sharing crackdown has impacted subscriber growth, with expectations for the total subscriber base to reach 281.5 million.

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ABOUT THE AUTHOR See More
Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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