AI Stocks Rise
A strong profit report from Taiwan Semiconductor Manufacturing Co. helped drive tech stocks, and its net income soared nearly 61 per cent in the last quarter from a year earlier. The chip maker said it’s seeing strong demand from artificial-intelligence and other customers, and TSMC’s stock that trades in the United States rose 3.4 per cent.
Other stocks involved in AI also climbed, and a 1 per cent gain for Nvidia was one of the strongest forces pushing upward on the S&P 500.
Top Gaining, Losing Stocks
PepsiCo jumped 7.5 per cent after delivering revenue and profit that topped Wall Street’s expectations. The drink and snack giant also stood by its financial forecasts given in April, which projected lower full-year profit than previous forecasts due to increased costs from tariffs and a pullback in consumer spending.United Airlines flew 3.1 per cent higher after reporting a stronger profit for the latest quarter than analysts expected. It also said it’s seen an acceleration in demand from customers that began in early July, and it’s expecting less uncertainty about the economy to hurt its business in the second half of this year.Lucid Group’s stock surged 36.2 per cent after it said Uber Technologies is aiming to use 20,000 or more of its vehicles over six years in a robotaxi program. Using an autonomy system by Nuro, it expects to launch “later next year in a major US city.”
Uber, which plans to invest hundreds of millions of dollars in Lucid and Nuro, saw its stock edge down by 0.3 per cent.
On the losing side of Wall Street was Abbott Laboratories, which fell 8.5 per cent despite delivering results for the latest quarter that edged past analysts’ expectations. The health care company cut the top end of its forecasted range for revenue growth over 2025.
Elevance Health dropped 12.2 per cent after reporting a weaker profit than analysts expected. It cut its forecast for profit in 2025 because of rising medical cost trends in its Affordable Care Act business, along with other factors.
FAQs
Q1. What are top three indexes?
A1. Top tree indexes of US Stock Market are — S&P 500, Dow Jones, and Nasdaq.
Q2. How are AI stocks performing?
A2. TSMC’s stock that trades in the United States rose 3.4 per cent. Other stocks involved in AI also climbed, and a 1 per cent gain for Nvidia was one of the strongest forces pushing upward on the S&P 500.
