Nasdaq futures rose Thursday after the tech-heavy Nasdaq Composite posted its worst day since 2022.
1. Republican vice presidential nominee JD Vance attacked Wall Street in his speech Wednesday night at the Republic National Convention. Donald Trump’s running mate said the presidential hopeful «won’t cater to Wall Street.» He also blamed China for flooding the U.S. economy with «cheap foreign goods» and fentanyl.
2. Taiwan’s TSMC, the world’s largest contract chipmaker, delivered a great quarter — second-quarter revenue of $20.82 billion vs. consensus $20.23 billion — and guide up on artificial intelligence demand. Will it matter? Semiconductor stocks took a beating Wednesday on news that the Biden administration may clamp down even harder on chip exports to China, while Donald Trump’s comments to Bloomberg Businessweek raised question about his support for the longtime U.S. ally should be be elected in November. TSMC is a major supplier for Club stocks Apple and Nvidia, among others.
