Chipmaker Surge Spurs Wall Street Rally

Wall Street's major indexes rose as TSMC's successful quarterly results caused a surge in chipmaker stocks. Meanwhile, investors evaluated earnings from Morgan Stanley and Goldman Sachs, marking the end of major banks' reporting season. The Dow, S&P 500, and Nasdaq all saw gains at market open.

Wall Street welcomed a positive start on Thursday as indices surged on the back of TSMC's outstanding quarterly results, causing a ripple effect among chipmakers.

Attention also turned to earnings reports from Morgan Stanley and Goldman Sachs, rounding off the major banks' reporting season.

The Dow Jones climbed 51.5 points to 49,201.1, the S&P 500 added 42.9 points to 6,969.46, and the Nasdaq Composite increased by 222.2 points to 23,693.969 at the opening bell.

(With inputs from agencies.)