September S&P 500 E-Mini futures (ESU26) are down -0.17%, and September Nasdaq 100 E-Mini futures (NQU26) are down -0.59% this morning as chipmakers remained under pressure, with investors weighing whether earnings justify further gains in the AI trade.
Taiwan Semiconductor Manufacturing Co. (TSM), the world’s largest contract chipmaker, reported its fifth consecutive quarter of record earnings and raised its full-year revenue growth forecast. However, that was not enough to spark fresh gains in chipmakers that have driven most of this year’s stock market rally. Chip and AI infrastructure stocks were broadly lower in pre-market trading. U.S.-listed shares of TSMC fell nearly -4%.
