Wall Street Rebound: Tech and Financial Firms Propel Gains

Wall Street saw a rebound with chipmaker TSMC and major banks performing strongly. TSMC's significant profit rise and robust earnings from BlackRock, Goldman Sachs, and Morgan Stanley drove investor confidence. Energy prices fell as geopolitical tensions eased slightly, and economic data suggested potential stability in U.S. interest rates.

Wall Street witnessed a much-needed rebound as chipmaker TSMC and major banks delivered strong earnings results, lifting investor sentiment after two consecutive days of losses. TSMC, a key player in AI chip production, reported a remarkable 35% profit surge, pushing its U.S.-listed shares up by 5%.

Financial institutions followed suit with BlackRock, Goldman Sachs, and Morgan Stanley exceeding analyst expectations, prompting significant share price increases. The positive trend was further bolstered by promising economic indicators and tempered geopolitical tensions that influenced oil prices to decrease.

The dollar strengthened as unexpected jobless data signaled a stable labor market, contributing to prospects of unchanged Federal Reserve interest rates. However, uncertainties remain, as the market continues to monitor geopolitical developments and Federal Reserve policies.