Stock Market Update
16-Jul-26 11:05 ET
Taiwan Semiconuductor lower after earnings
Dow +122.32
at 52780.96,
Nasdaq -184.63
at 26105.60,
S&P -10.28
at 7562.12
[BRIEFING.COM] The major averages remain mixed as weakness across semiconductor names continues to weigh against strength in the broader market.
Taiwan Semiconductor Manufacturing (TSM 412.77, -6.71, -1.60%) is slipping despite a strong Q2 report because the market appears to be treating the results as a sell-the-news event in a weak semiconductor tape rather than a fresh upside surprise. Taiwan Semi reported one of its largest EPS beats in years, driven by surging AI-related demand and continued strength in its leading-edge chip manufacturing business. While the stock is pulling back modestly following the report, the company raised its full-year outlook, guided Q3 revenue above expectations, and expressed unwavering confidence in the multiyear AI spending cycle.
