Futures tracking the S&P 500 and the Nasdaq rose on Thursday, buoyed by chip stocks, while investors kept an eye out for clues on the timing of interest rate cuts and the economic outlook as more earnings roll in. U.S.-listed shares of Taiwan Semiconductor Manufacturing (TSMC) jumped 5.5% in premarket trading after the world’s largest contract semiconductor maker projected a more than 20% growth in 2024 revenue on booming demand for high-end chips used in artificial intelligence applications. Nvidia (NVDA.O), Microchip Technology (MCHP.O), Marvell Technology (MRVL.O), and Advanced Micro Devices (AMD.O), rose between 1.6% and 3.2%. Megacap stocks such […]
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