Wall Street rises, led by chip stocks after TSMC blockbuster earnings, Nvidia surges 3%, BlackRock soars 4.5%

Major US stock indices rose on Thursday after TSMC's blockbuster earnings sparked a rally in chip shares.

At 9:34 a.m. ET, the Dow Jones Industrial Average rose 146.42 points, or 0.30%, to 49,296.05, the S&P 500 gained 40.50 points, or 0.58%, to 6,967.10 and the Nasdaq Composite gained 197.64 points, or 0.84%, to 23,669.39.

At the opening bell, the Dow Jones Industrial Average rose 51.5 points, or 0.10%, to 49,201.1. The S&P 500 rose 42.9 points, or 0.62%, to 6,969.46, while the Nasdaq Composite rose 222.2 points, or 0.95%, to 23,693.969.

In the bond market, the yield on the 10-year Treasury climbed to 4.14% from 4.12%.

Key Stock Movers

US-listed shares of Taiwan Semiconductor Manufacturing Co., a major chip supplier to the industry, jumped 3.7% after the company reported a stronger profit for the fourth quarter than expected.

TSMC also said it could boost its investment in equipment to $56 billion this year to take advantage of the boom in artificial intelligence.

Shares of chipmakers ASML, listed in the US, rallied 6.7% and Nvidia Corp surged 2.95%.

Broadcom and Micron gained 1.4% and 1.9%, respectively.

BlackRock stock soared 4.5% after the company posted better than expected quarterly profit and revenue.

Morgan Stanley shares climbed 3.4% after likewise delivering stronger profit and revenue than estimated.

Goldman Sachs shares fell by 0.1% after the investment bank topped Wall Street forecasts for profit but fell short on revenue.

Boston Scientific stock tumbled 5.5% after the firm announced it is acquiring Penumbra, whose products help remove blood clots, in a deal worth $14.5 billion. Penumbra stock jumped 11.3%.

Bullion Market

Gold prices eased on Wednesday as weaker-than-expected US weekly unemployment claims data boosted the US dollar.

As of 09:32 a.m. ET (1432 GMT), spot gold edged down 0.3% at $4,607.59 per ounce. On Wednesday, the yellow metal hit a record high of $4,642.72.

US gold futures for February delivery lost 0.5% to $4,612.50.

Easing geopolitical tensions also slightly weighed on safe-haven demand for the metal after US President Donald Trump's moderated tone on Iran.

Among other metals, spot silver slid 3.6% to $89.29 per ounce after hitting an all-time high of $93.57 earlier in the session.

Spot platinum dropped 0.4% to $2,375.55 per ounce, while palladium lost 1.8% to $1,806.68 per ounce.

Crude Oil

Oil prices tumbled around 5% on Thursday after President Donald Trump appeared to dial down threats of imminent military action on crude producer Iran.

At 1430 GMT, Brent North Sea crude was down 4.7% at $63.42 per barrel. West Texas Intermediate declined 4.9% at $58.83 per barrel.

Trump on Wednesday said that he would "watch it and see" on possible intervention in the Islamic republic.

Trump added that he was told that the killings of protesters there had stopped.