Overview
- The S&P 500 rose 0.3%, the Dow added 292 points or 0.6%, and the Nasdaq gained 0.2%, ending a two-day slide as the Russell 2000 advanced 0.9%.
- Taiwan Semiconductor’s shares climbed after stronger-than-expected results, guidance for 38% Q1 revenue growth, and capital spending up to $56 billion, lifting Nvidia and other chipmakers.
- Initial jobless claims declined by 9,000 to 198,000, below expectations, and the New York and Philadelphia Fed manufacturing indexes both improved in January.
- Crude oil fell about 4.7% to roughly $59 on hopes of easing Iran tensions, contributing to a calmer tone across markets.
- Goldman Sachs jumped 4.6% and Morgan Stanley 5.8% after higher quarterly profits driven by dealmaking and trading.