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Stocks failed to continue Wednesday's rally as retail sales and fresh earnings from big banks took focus.

Stocks failed to continue Wednesday's rally as retail sales and fresh earnings from big banks took focus.

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. projected quarterly sales and capital expenditure ahead of analysts’ estimates, fueling hopes that spending on AI hardware should remain resilient in 2025.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyAs E-Bikes Boom in NYC, Some Call for More RegulationsChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesNYPD Reforms Car Chase Policy Amid Rising Crashes, InjuriesChurches, Cinemas — and Moon Artifac

TAIPEI (Reuters) -Taiwan Semiconductor Manufacturing Co logged record quarterly profit on Thursday and said it expects robust revenue growth in the first three months of the year as demand surges for chips used in artificial intelligence processing. While business is booming, TSMC does face headwinds from U.S. government technology restrictions on China with the Biden administration saying this week it would further restrict AI chip and technology exports. Though Taiwan and other close U.S. allies will be allowed unlimited access to U.S. AI technology, further curbs could impact demand from clients.

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Taiwan Semiconductor Manufacturing Company, a global tech giant, brought thousands of workers from Asia to the Phoenix suburbs for jobs at a plant that the Biden administration helped fund.

The Biden administration on Monday announced a last-minute trade investigation into Chinese-made "legacy" semiconductors that could heap more U.S. tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear. The "Section 301" probe, launched just four weeks before President-elect Donald Trump takes office on Jan. 20, will be handed over to his administration in January for completion, Biden administration officials said. The effort could offer Trump a ready avenue to begin imposing some of the hefty, 60% tariffs that he has threatened on Chinese imports.

Stocks are mixed ahead of a consumer inflation report seen as key to the path of interest rates.

Markets are muted on the eve of a closely watched consumer inflation report seen as key to the path of interest rates.

The White House is racing to finish grant agreements for chip manufacturers, but some of its biggest successes might be credited to the Trump administration.

The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona. It comes just weeks before President-elect Donald Trump, who criticized the program, takes office. In April, TSMC agreed to expand its planned investment by $25 billion to $65 billion and to add a third Arizona fab by 2030.

NEW YORK/SINGAPORE (Reuters) -The U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in artificial intelligence applications starting Monday, according to a person familiar with the matter. The Department of Commerce sent a letter to TSMC imposing export restrictions on certain sophisticated chips, of 7 nanometer or more advanced designs, destined for China that power AI accelerator and graphics processing units (GPU), the person said. The U.S. order, which is being reported for the first time, comes just weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor, as Reuters reported last month.

The U.S. government has tried to keep Chinese companies from obtaining certain advanced technologies, but concerns have been growing that some products may have been routed to Huawei.

A monthly report on retail sales could provide clues to whether the Fed will go for "no cut" at its next meeting.

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. raised its target for 2024 revenue growth after quarterly results beat estimates, allaying concerns about global chip demand and the sustainability of an AI hardware boom.Most Read from BloombergInside the ‘Utopias’ of Mexico CityHow Mexico City Averted All-Out DroughtOne City’s Plan to Re-Link a Neighborhood That Robert Moses DividedMexico Seeks to Halve Permitting Time to Attract More FactoriesChicago Should Consider Furloughs, Higher Booze

Investors are locked in debate over a 'no landing' for the economy, with Fed minutes on deck.

Sam Altman, OpenAI’s chief executive, is talking to the United Arab Emirates, Asian chipmakers and U.S. officials to expand the computing power needed to build artificial intelligence.

Rep. Michael McCaul, R-Texas, details findings from a new report on the Afghanistan withdrawal and latest tensions between China and Taiwan.

Wall Street is hunkering down after a roller-coaster August, with the prospect of a potentially stormy September ahead.

Wall Street is hunkering down after a roller-coaster August, with the prospect of a potentially stormy September ahead.