Wall Street Rebounds as Chips and Banks Lift S&P 500 Toward 7,000

Overview

• U.S. stocks snapped a two-day slide, with the S&P 500 approaching 7,000 and the Dow up about 0.6% (roughly 292 points) as the Nasdaq added 0.25%.
• Semiconductor shares rallied after TSMC posted another record quarter and outlined 2026 capital spending of $52–56 billion, while the Philadelphia Semiconductor Index rose about 2%.
• Goldman Sachs and Morgan Stanley advanced after quarterly beats, and BlackRock climbed on record assets under management, helping financials support the session’s gains.
• The U.S. announced a trade agreement with Taiwan featuring at least $250 billion in U.S. investment and a 15% cap on tariffs for Taiwanese goods, while new security approvals were required for Nvidia’s H200 exports to China.
• Oil prices fell roughly 4.5% as geopolitical worries eased following softer U.S. rhetoric on Iran, jobless claims declined and nudged Treasury yields higher, and the Russell 2000 set a fresh record.