TSMC's Strong Outlook Boosts Tech Stocks, Futures Up Modestly
Stock futures are experiencing modest gains in early trading as optimism around a strong outlook from Taiwan Semiconductor Manufacturing bolsters technology sentiment and lifts semiconductor and AI-related shares. This suggests investor risk appetite is returning after recent weaker sessions. Analysts note that TSMC's robust quarterly results and plans for expanded U.S. manufacturing have injected fresh confidence into the chip sector and could support broader tech leadership even as markets await further corporate earnings.Still, broader sentiment remains mixed and cautious after a two-day losing streak for major U.S. indexes, driven by profit-taking in technology shares and concerns around banking sector pressures, including regulatory risks and proposals on credit card rate caps that have weighed on financial stocks.Currency and bond markets have also shifted in response to these cross-currents, contributing to the broader risk-on yet cautious tone.In pre-market trading, S&P 500 futures rose 0.49%, Nasdaq futures rose 1.07% and Dow futures slipped 0.07%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Penumbraup 13% after entering into a definitive agreement under which Boston Scientificwill acquire the company in a cash and stock transaction that values Penumbra at $374 per shareSpotifyup 1% after announcing that it is raising prices for premium subscriptionsUP AFTER EARNINGS -TSMCup 5%Insteelup 5%BlackRockup 2%DOWN AFTER EARNINGS -Morgan Stanleydown 1%Goldman Sachsdown 1%LOWER -Boston Scientificdown 4% after announcing its agreement to acquire PenumbraInstacartdown 5% after Uberand Krogerannounced the launch of nearly 2,700 stores on the Uber Eats, Uber, and Postmates apps
