The S&P 500 Index ($SPX) (SPY) today is up by +0.16%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.24%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.33%.
Stocks today are moderately higher, with the S&P 500 and Dow Jones Industrials posting new record highs. A recovery in chip stocks is boosting the overall market after Taiwan Semiconductor Manufacturing, the main chipmaker for Nvidia and Apple, eased chip demand concerns after it reported a better-than-expected 54% increase in Q3 net income and raised its target for 2024 revenue growth. Stronger than expected US economic news on weekly jobless claims and Sep retail sales also supported stocks as it bolsters confidence in the US economy and improved the outlook for a soft landing.
