Chip Stocks Rebound, Boosting Futures Amid TSMC Forecast

Nasdaq futures rose following an optimistic forecast by Taiwan Semiconductor Manufacturing (TSMC) and a rebound in megacap stocks after a significant decline. TSMC raised its full-year revenue forecast due to high demand for AI chips, leading to gains in TSMC customers like Apple and Nvidia. The market faced turbulence amid concerns over US-China trade relations and escalating geopolitical risks. TSMC's strong quarterly earnings boosted confidence in the AI trend, while Netflix's upcoming earnings were highly anticipated. The quarterly earnings season will test the performance of tech sector megacaps, including their ability to meet investor expectations amidst high valuations.