US stocks split on Thursday as investors took stock of the AI boom and key earnings reports, while an escalation in the US-Iran war continued to weigh.
The Dow Jones Industrial Average rose roughly 0.2% and was the lone index in the green, while the S&P 500 traded near the flat line. The Nasdaq Composite declined by 0.5% as chip stocks came under pressure for a second day.Semiconductor stocks continued to slide after Taiwan Semiconductor Manufacturing Company’s robust earnings failed to impress markets that have cycled through risk-on and risk-off sentiment as investors scrutinise high valuations.
TSMC reported record second quarter revenue and lifted its capex spending outlook for the year, but the stock fell in premarket trading after the company warned of higher prices.
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