Semiconductor Stocks Surge, Led by AMD and Micron
Strong Financial Earnings and Falling Oil Prices Support Investor Sentiment
Weekly Jobless Claims Come in Below Expectations
On January 15 (local time), all three major U.S. stock indexes rose simultaneously. Strong earnings from Taiwan's TSMC led a rebound in technology stocks, particularly among semiconductor shares, lifting the indexes.
A trader is working on the trading floor of the New York Stock Exchange (NYSE) in the United States. Photo by AFP Yonhap News
As of 9:45 a.m. on the New York Stock Exchange, the blue-chip-focused Dow Jones Industrial Average was up 137.01 points (0.28%) at 49,286.64. The large-cap S&P 500 index rose 43.58 points (0.63%) to 6,970.18, while the tech-heavy Nasdaq index jumped 238.599 points (1.02%) to 23,710.348.
By sector, semiconductor stocks were particularly strong. AMD surged 4.95%. Micron was up 3.52%, and Nvidia rose 2.93%. Financial stocks also showed solid performance. Morgan Stanley and Goldman Sachs climbed 3.1% and 1.48%, respectively, after both reported fourth-quarter results that exceeded market expectations.
Robust earnings from global foundry company TSMC are driving investor sentiment in technology stocks, especially semiconductors. TSMC announced that its fourth-quarter revenue last year reached $33.73 billion, with net profit at $16.3 billion. These figures represent an increase of 21% and 35%, respectively, compared to the same period last year. As a result, TSMC set record highs for both annual revenue and profit in 2025. The improvement in results was driven by surging demand for artificial intelligence (AI) semiconductors, with TSMC securing exclusive orders from major AI chip designers such as Nvidia.
However, policy uncertainty remains a variable. President Donald Trump announced the previous day that he would impose a 25% tariff on imported semiconductors that do not contribute to the United States and expand the scope of the tariff, drawing attention to the potential impact on global semiconductor companies.
Labor market data released that morning indicated continued strength despite concerns about a slowdown. According to the U.S. Department of Labor, new unemployment claims for the week of January 4-10 totaled 198,000. This figure is 9,000 lower than the previous week's 207,000 and also below the market forecast of 215,000. Continuing claims for unemployment benefits for the period December 28-January 3 stood at 1,884,000, down 6,000 from the previous week's 1,890,000 and below the market expectation of 1,903,000.
The decline in international oil prices is also supporting investor sentiment. After President Trump suggested the previous day that he might refrain from using military options against Iran, saying, "I have heard that the killings in Iran are stopping," oil prices fell sharply. As of 9:48 a.m. Eastern Time on the New York Mercantile Exchange (NYMEX), West Texas Intermediate (WTI) crude was down $2.82 (4.55%) from the previous session at $59.20 per barrel, while Brent crude, the global oil price benchmark, was down $2.88 (4.33%) at $63.64 per barrel.
U.S. Treasury yields edged up slightly. The yield on the benchmark 10-year Treasury note rose 1 basis point (1bp = 0.01 percentage point) from the previous day to 4.15%, while the yield on the 2-year Treasury note, which is sensitive to monetary policy, increased 2 basis points to 3.54%.
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