FX.co ★ Tech and Bank Gains Lift Wall Street

On Thursday, U.S. stocks recovered after two days of declines, bolstered by impressive earnings from leading banks and a surge in technology shares. Both the S&P 500 and the Nasdaq rose by 0.2%, while the Dow Jones climbed by 292 points. Taiwan Semiconductor's impressive results and its intention to increase capital expenditure by 2026 sparked optimism regarding the growth of artificial intelligence, boosting shares of companies like Nvidia by 2%, Applied Materials by 5.6%, Micron Technology by 1.1%, and Broadcom by 0.9%. Bank stocks also saw gains, with Goldman Sachs rising 4.6% and Morgan Stanley increasing by 0.9%, both surpassing quarterly profit expectations due to robust deal-making activities. Additionally, BlackRock reached record levels of assets under management. On the data front, reports indicated that the U.S. labor market remains robust, and factory activity in New York State experienced a rebound.