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A strong quarter from TSMC is not moving chip stocks. That gap between a foundry bellwether's beat and the broader semiconductor sector's response is the defining signal heading into Thursday's session.
When the company doing the actual manufacturing delivers and the designers around it don't follow, something else is going on.
The earnings picture GE Aerospace and UnitedHealth also posted strong results, giving investors two data points well outside the chip sector.
Their performance adds weight to the argument that corporate earnings broadly are holding up, even as the semiconductor picture looks more complicated.
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