S&P 500 Stalls as TSMC Lifts 2026 Capex to $60 Billion-$64 Billion
Updated
Updated · CNBC · Jul 15
S&P 500 Stalls as TSMC Lifts 2026 Capex to $60 Billion-$64 Billion
3 articles · Updated · CNBC · Jul 15
Summary
The S&P 500 was little changed while the Nasdaq fell 0.7%, as a semiconductor selloff offset support from a strong start to earnings season.
TSMC shares slipped 2% after the company raised annual capital spending guidance to $60 billion-$64 billion from $52 billion-$56 billion, overshadowing a better-than-expected second quarter.
The chip weakness spread across the sector: the VanEck Semiconductor ETF fell more than 2%, Arm dropped over 7%, and Micron, AMD, Broadcom and U.S.-listed SK Hynix also declined sharply.
147 Dow points of gains came as UnitedHealth jumped more than 3% on an earnings beat, helping the economically sensitive index outperform.
208,000 jobless claims and a 0.2% rise in retail sales reinforced a picture of resilient U.S. consumers, while more than 87% of 40 S&P 500 companies reporting so far have beaten expectations.