US Markets Surge: Chip and Banking Stocks Lead Gains After Strong Earnings

• US markets closed higher on Thursday, driven by strong performances in the chip and banking sectors.
• TSMC's robust results and plans for US expansion fueled a rally in chip stocks, with Nvidia, Broadcom, and Micron seeing significant gains.
• Banking giants Morgan Stanley and Goldman Sachs reported increased quarterly profits, boosting their share prices.
• BlackRock's Assets Under Management (AUM) hit a record $14.04 trillion, leading to a 4.7% rise in its shares.
• Despite positive earnings, the financial sector faced pressure due to concerns over a proposed credit card interest rate cap.

Why It Matters: US markets gained significantly, propelled by strong earnings from chipmakers and banks, despite financial sector concerns.