These 2 Stocks Could Lead a Year-End Market Rally
The stock market was surprised by the news it got on the inflation front, but major stock indexes were able to bounce back from their worst levels earlier today. After opening down about 1.5%, the S&P 500 (SNPINDEX: ^GSPC) managed to rebound to a nearly 1% gain as of 11:30 a.m. ET. The Nasdaq Composite (NASDAQINDEX: ^IXIC) and Dow Jones Industrial Average (DJINDICES: ^DJI) also saw impressive rebounds from early losses.
Earnings season is kicking off, and a couple of key stocks gave their latest views on business conditions and the macroeconomic environment. For semiconductor giant Taiwan Semiconductor Manufacturing (NYSE: TSM), worries about an industry slowdown had investors nervous about what the company would say. Meanwhile, Walgreens Boots Alliance (NASDAQ: WBA) has been working toward a transformation of its business, and investors seemed to be pleased with its progress thus far. Strength from these companies could inspire gains across the market.
Shares of Taiwan Semiconductor Manufacturing climbed nearly 7% at midday Thursday. The chipmaking giant showed strength in its core operations, flying in the face of the weaker results that some of its industry peers have posted recently.
Source Fool.com
