Taiwan Semiconductor Stock Rises After Beating Earnings Expectations

Taiwan Semiconductor, a major chipmaker, saw its U.S.-listed shares tick higher in premarket trading after reporting second-quarter earnings that beat expectations. The company earned NT$247.85 billion on revenue of NT$673.51 billion, surpassing analysts’ estimates. CEO C.C. Wei attributed the strong results to high demand for the company’s AI chips, but warned that supply constraints are expected to continue through 2025. Despite the challenges, Wei expressed hope that supply could ease in 2026.

In other news, weekly jobless claims data is set to be released on Thursday morning, with economists predicting claims to come in at 229,000. This figure represents a slight increase from the previous week. Additionally, several companies made headlines in after-hours trading, with Discover Financial Services seeing a 2.7% increase in shares after reporting strong second-quarter results, while Kinder Morgan and United Airlines experienced declines after falling short of expectations.

Stock futures opened higher on Wednesday night, with the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 futures all showing gains. This positive start to trading suggests optimism among investors as they await further economic data and corporate earnings reports. Stay tuned for more updates on these developing stories.