-- A gauge of global chip stocks and AI bellwether Nvidia Corp. have fallen together into a technical correction, showing moderation in the global equity market’s most conspicuous driver over the past year and a half.The Philadelphia Semiconductor Index and Nvidia dropped more than 3% each Wednesday, pushing them down more than 10% from record high levels reached in March.
Taiwan Semiconductor Manufacturing Co. may help boost sentiment after it reported its first profit increase in a year on Thursday, helped by strong AI demand. The primary outsourced maker of chips for Nvidia as well as Apple Inc. reported a 9% increase in net income to NT$225.5 billion for the first three months of the year, beating the consensus estimate.TSMC’s results were “not too bad,” said Amir Anvarzadeh, a Singapore-based strategist at Asymmetric Advisors.
The soft landing is still on because spikes in inflation were a blip and the job market isn’t seeing many layoffs, Goldman’s chief economist says.SACRAMENTO, Calif. — A California lawmaker wants to require business owners and landlords to disclose their identities under legislation aimed at cracking down on opaque ownership structures that have enabled some companies to skirt state laws without facing consequences.
Baby boomers may have had the best financial start of all the generations -- coming of age when salaries kept up with the cost of living and goods and services were affordable -- but that doesn't mean... -- Seafood restaurant chain Red Lobster is mulling a Chapter 11 bankruptcy filing as it looks to restructure its debt, according to people with knowledge of the matter.