Chip stocks are on the rise following TSMC's record quarterly profit, while PepsiCo forecasts a smaller decline in annual core profit. June retail sales also show a surprising uptick, signaling strong consumer confidence.
In a surprising turn, Nvidia and major chip stocks like AMD and Qualcomm saw a decline as the AI trade faltered. Concerns over tariffs and competition from Alibaba loom large, dragging down the tech-heavy Nasdaq.
