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Stock market news today: Nasdaq futures dig out of tech rout as TSMC shines

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TSMC News

Nasdaq,Netflix,Nasdaq Composite

Techs reached for a comeback from the Nasdaq's worst day since 2022, in an increasingly volatile week for Wall Street.

Tech stocks eyed a small comeback on Thursday from the Nasdaq's worst day since 2022, as TSMC's upbeat results helped calm worries about the AI trade ahead of Netflix earnings. Futures on the tech-heavy Nasdaq 100 rose 0.4%, while S&P 500 futures edged up 0.1%. But Dow Jones Industrial Average futures slid roughly 0.2%, coming off an all-time closing high for the blue-chip index.

Chip stocks Nvidia , TSMC , and ASML all got hammered amid a rotation from tech leaders into less prominent parts of the market. TSMC's strong quarterly earnings Thursday helped lift the mood. The Taiwanese chip giant beat on profit with a 36% jump, and it raised its 2024 sales outlook to signal confidence in the AI boom. Shares in the supplier to Nvidia and Apple inched up in pre-market trading. Netflix is the highlight on Thursday's earnings docket, due after the market close.

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