Taiwan Semis sparks rally

Allan Tong Posted On October 17, 2024

On the heels of Super Micro Computer reporting a disappointing quarter and outlook, Taiwan Semiconductor delivered a beat and raised guidance to spur markets higher Thursday. The chipmaker finished 9.79% higher, but the Nasdaq ended up only a handful of points, while the S&P was flat, and the Dow edged up 0.37% to make a new high of 43,239. SMCI, by the way, closed -2.39% as Travelers soared 9.0%, and Expedia jumped 4.75% after a report that Uber -2.44% was interested in the company. The U.S. 10-year yield inched up to 4.096% while Bitcoin declined 0.9% to US$67,000.

In Toronto, the TSX also hit new highs after rallying 0.52%. Only two sectors, including energy, showed mild weakness, while all others gained. Consumer Staples, materials and financials led. TD traded the most hands and rose 0.53% as Royal Bank gained 0.69% to make a new high, CHW advanced 1.59%, GFL Environmental 2.88% and Onex 3.57%. WTI added 0.44% to US$70.70 while gold added US$17 to a high of US$2,691.

💾 Taiwan Semiconductor MFG. (TSM-N) +9.79%

💾 Super Micro Computer (SMCI-Q) -2.39%

✈ Expedia (EXPE-Q) +4.75%

🚖 Uber (UBER-N) -2.44%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.9%

🏛 Toronto Dominion (TD-T) +0.53%

🏛 Royal Bank (RY-T) +0.69%

🏛 Chesswood Group (CHW-T) +1.59%

♻ GFL Environmental Inc. (GFL-T) +2.88%

🏛 Onex Corp (ONEX-T) +3.57%