Marcus Today Pre-Market Podcast – Friday 19th January
US stocks closed higher on Thursday, propelled higher by AI-related optimism that bolstered chip stocks, notably Nvidia and Taiwan Semiconductor Manufacturing (TSMC). The Dow Jones rose by 202 points, or 0.54%, closing at 37,469 points. The S&P 500 gained 0.88%, while the NASDAQ advanced 1.35% to 15,055.81. TSMC's US-listed shares jumped by 9.79% after the semiconductor manufacturer projected a 2024 revenue growth exceeding 20%, driven by high demand for high-end chips utilised in AI applications. Nvidia (+1.9%) reached an intraday record high, emerging as the most-traded company on Wall Street, with over $24bn worth of shares exchanged. Other chip giants, including AMD, Broadcom, and Qualcomm, also experienced gains, contributing to the rally in the Philadelphia SE semiconductor index (+3.36%). Elsewhere, Apple gained 3.3% after BofA Global Research upgraded its stock to "buy," leading the S&P 500 information technology index to reach a new record high.
ASX to rise. SPI Futures up 72 points (+0.98%).
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