In the early morning of January 16 Beijing time, US stocks staged a collective rebound after two consecutive days of declines, with all three major indices closing higher and market risk appetite improving significantly. The Dow Jones Industrial Average rose 0.60%, the S&P 500 Index gained 0.26%, and the Nasdaq Composite Index climbed 0.25%, showing obvious sector rotation characteristics. The chip sector emerged as the core driver: TSMC’s fourth-quarter net profit surged 35% year-on-year to a record high, driving its stock price up 4.44%, while leading stocks such as NVIDIA and AMD also strengthened simultaneously, reigniting market confidence in the resilience of demand in the AI industry chain.

The banking sector also gained strength. Goldman Sachs and Morgan Stanley recorded significant stock price increases due to better-than-expected quarterly profits, and the steady performance of the financial sector provided support for the market. In addition, the number of initial jobless claims in the US fell last week, and the manufacturing outlook in the New York and Philadelphia regions was better than expected. The positive economic data further eased market concerns. Popular Chinese concept stocks showed mixed performance, with the Nasdaq Golden Dragon China Index slightly falling 0.60%. TSMC led the gains, while stocks such as Tencent Music pulled back slightly, presenting an overall structural market.