Wall Street Soars Near Records, AMD And ASML Jump 6%: What's Moving Markets Thursday?

U.S. stocks rallied near record territory on Thursday as blowout earnings from major Wall Street firms and renewed confidence in the AI trade lifted risk appetite.

The Nasdaq 100 jumped 1.2%, on track to fully erase Wednesday's losses, while the S&P 500 climbed nearly 1%.

Semiconductor stocks led the advance after blockbuster quarterly results from Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) reignited enthusiasm across the AI supply chain.

Shares of Advanced Micro Devices Inc. (NASDAQ:AMD) and Dutch chipmaker ASML Holding N.V. (NASDAQ:ASML) surged about 6% each, buoyed by TSMC's stronger-than-expected capital spending outlook.

The rally extended across the chip equipment space, with KLA Corp. (NASDAQ:KLAC) soaring 9% and Applied Materials Inc. (NASDAQ:AMAT) gaining roughly 8%.

In financials, investor sentiment was reassured after strong earnings from Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley ...

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Wall Street Soars Near Records, AMD And ASML Jump 6%: What's Moving Markets Thursday?

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