TSM reports strong growth, tech stocks react positively, but market closes with losses.

From Investing.com: 2024-07-19 04:32:00

TSM reported better-than-expected quarterly results and raised revenue growth projections. Despite positive news, the S&P 500 and Nasdaq 100 closed with losses. Nvidia bounced back, but TSM shares fell 2%. The rising odds of a Trump presidency may not be positive for TSM. Biden is under pressure to leave the presidential race. The reflation trade favors cyclical sectors. European stocks had weak earnings to start the season. ECB is unsure about a rate cut in September. Concerns about rising shipping costs impact market sentiment.

Netflix exceeded subscriber forecast in Q2 but missed Q3 sales estimates. Shares initially dropped but rebounded. Trump’s policies may lead to a rotation from tech to non-tech which could affect Netflix. Despite potential challenges, Netflix has limited exposure to AI compared to other major tech companies.



Read more at Investing.com: Tech Stocks React to TSM’s Growth Projections Amid Global Tensions