Wall Street Rally: Semiconductor Surge Fuels Record Mark

Wall Street witnessed a significant rally on Thursday, as the S&P 500 reached a record high. This surge was primarily driven by a positive forecast from TSMC, enhancing semiconductor stock performance. Additionally, stronger-than-expected September retail sales underscored the robust purchasing power of U.S. consumers.

Wall Street's main indexes experienced a substantial surge on Thursday, propelled by the S&P 500 hitting an all-time high. This bullish momentum was largely attributed to an optimistic outlook from TSMC, which gave semiconductor stocks a considerable lift.

The market's gains were further bolstered by a better-than-anticipated increase in September retail sales, indicating that U.S. consumers remain a strong driving force in the economy. Retail figures exceeded expectations, pointing to robust domestic demand.

At the start of trading, the Dow Jones Industrial Average climbed 165.37 points, or 0.38%, reaching 43,243.07. Meanwhile, the S&P 500 advanced 33.1 points, or 0.57%, opening at 5,875.62, and the Nasdaq Composite ascended 170.1 points, or 0.93%, reaching 18,537.212.

(With inputs from agencies.)