Chip stock rally, upbeat retail sales data boost indexes
By Lisa Pauline Mattackal and Purvi Agarwal (Reuters) -Wall Street rose on Thursday, with the S&P 500 and the Dow briefly reaching record highs, as chip stocks surged on TSMC’s upbeat forecast and stronger-than-expected monthly retail sales indicated a robust U.S. consumer. Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, beat market estimates for profit and forecast a jump in fourth-quarter revenue, driven by demand for artificial intelligence chips. The chipmaker’s U.S.-listed shares soared … Read more…