Wall Street Surges on Robust Retail Sales and Chip Stock Rally

Wall Street rises on strong retail sales and chip stock rallies, driven by TSMC's upbeat revenue forecast and healthy U.S. economic indicators. The S&P 500 and Dow hit record highs, while concerns about stretched valuations and volatility remain. U.S. retail sales increased by 0.4% in September.

Wall Street experienced a notable rise on Thursday, buoyed by strong retail sales figures and a rally in chip stocks, fueling record highs for the S&P 500 and the Dow.

Taiwan Semiconductor Manufacturing Co's positive revenue forecast drove enthusiasm in the tech sector, highlighting demand for artificial intelligence chips.

Amid healthy U.S. economic data, concerns over stretched valuations and potential market volatility persist, even as economic indicators continue to point to robust consumer health.

(With inputs from agencies.)