Retail sales, jobless claims, and the Philly Fed report all came in better than expected a few minutes ago at 8:30 AM ET, and we’ll have more coverage of these indicators later today.After major chip-equipment manufacturer ASML spooked the Tech world earlier this week with a weaker-than-expected earnings report, Taiwan Semi () has helped to right the ship this morning with an earnings triple play (beat EPS, beat sales, raised guidance). The stock is reacting to the news extremely positively in pre-market trading. Shares are currently set to open higher by 9.1%, which would mark a new all-time high for the stock. As shown below, a 9.1% gap higher for TSM this morning would also be its most positive open following an earnings report since at least 2012.Small-cap indices have been charging higher over the last week with the Russell 2,000 () up nearly 4% and the Micro-Cap ETF () up 6%. As shown below, small-cap index ETFs are currently the most overbought, then mid-caps, then large-caps. The Nasdaq 100 ETF () is actually down over the last week, but its price is still slightly overbought.More By This Author:The Bull’s Biggest Hits And Misses Traders Much Less Enthusiastic Now Versus 2021Bears Head To Hibernation Early
TSM Rights The Ship
