"Live Coverage Updates appear automatically as they are published. Live Updates Most of the major indices are green again. The S&P 500 0.17%, as it nears record highs. The SPDR S&P 500 ETF ( SPY) is up about 0.14%. The Dow is down a fraction of a point, with the Nasdaq also up half a percent. The S&P 500 could easily hit 7,000 today, which is just a few points off."
"Forcing markets higher, Taiwan Semiconductor just yesterday posted blowout earnings. Plus, the U.S. and Taiwan reached a trade agreement in which Taiwanese chip and tech companies will invest about $250 billion in production capacity in the U.S. "In exchange, the U.S. will limit 'reciprocal' tariffs on Taiwan to 15%, down from 20%, and commit to zero reciprocal tariffs on generic pharmaceuticals, their ingredients, aircraft components and some natural resources," according to CNBC."
"The Russell 2000 just hit all-time highs. It's also up 8.3% in January so far. That puts it on track for its best start to a year in about 40 years. That's thanks to strong projected earnings, the potential for more interest rate cuts, and data pointing to more U.S. economic strength. We also have to remember that "small caps tend to be more sensitive to changes in the economy and Fed policy, as more of their business is inside the U.S. rather than overseas," as noted by CNBC."
Most major U.S. equity indices traded higher, with the S&P 500 approaching 7,000 and the SPDR S&P 500 ETF modestly higher. The Dow was essentially flat while the Nasdaq climbed about 0.5%. The S&P 500 recently hit 6,000 and previously crossed 5,000, 4,000 and 3,000 milestones in prior years. Taiwan Semiconductor reported blowout earnings and a U.S.-Taiwan trade agreement will spur about $250 billion in Taiwanese chip and tech investment in U.S. production capacity, with reduced reciprocal tariffs and tariff exemptions on certain goods. The Russell 2000 reached all-time highs, rising 8.3% in January on projected earnings strength, potential rate cuts, and stronger U.S. data. Nvidia received an Oppenheimer outperform reiteration, lifting shares.
Read at 24/7 Wall St.
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