New York, January 10, 2026, 12:53 (EST) — Market closed
- SOXX closed up on Friday, boosted by chip stocks that pushed U.S. shares to a record high.
- Intel surged following Trump’s praise of CEO Lip-Bu Tan, while Lam Research climbed after a broker raised its price target.
- Traders are eyeing U.S. inflation figures due Jan. 13, with TSMC’s guidance set to follow on Jan. 15.
U.S. semiconductor stocks drove Wall Street to a record close Friday, with the iShares Semiconductor ETF (SOXX) climbing 2.9% to $328.78, after swinging between $319.35 and $330.66. The PHLX semiconductor index, which tracks major chipmakers, surged 2.7% to a new high. Broadcom gained 3.8%, Lam Research jumped 8.7% following Mizuho’s price target hike to $220 from $200, and Intel rallied nearly 11%. The boost came after President Donald Trump described a “great meeting” with CEO Lip-Bu Tan. “Investors are getting granular and picking the winners and losers” in AI, noted Zachary Hill of Horizon Investments. (Reuters)
This surge is crucial because chips have reclaimed their spot as the main gauge of risk appetite. The sector tends to react more sharply when bond yields shift.
Investors are sifting through steady demand versus the erratic ordering patterns that come with big customers ramping up data centers. The debate over what counts as “AI spend” each quarter is far from settled.
Taiwan Semiconductor Manufacturing Co, the world’s biggest contract chipmaker, reported a 20.45% jump in fourth-quarter revenue from a year earlier, hitting T$1.046 trillion ($33.11 billion), Reuters calculations based on company monthly data show. That topped the LSEG SmartEstimate of T$1.036 trillion, a consensus that weighs analysts by their past accuracy. TSMC, which counts Nvidia and Apple among its clients, will release full results on Jan. 15, when it’s also expected to update its guidance and capital expenditure plans. Its U.S.-listed shares (TSM) closed Friday up 1.7% at $323.63. (Reuters)
Atlanta Fed President Raphael Bostic said inflation remains too high, urging policymakers to keep a “laser-focused” approach on curbing price pressures. He described the job market’s recent shift as a “low-hire, no-fire” environment. The December jobs report showed payrolls increased by 50,000, while the unemployment rate dipped to 4.4%. According to Reuters, many economists still bet on Federal Reserve rate cuts this year.
Chip stocks have surged quickly, often magnifying shifts in Treasury yields. A stronger inflation report or a slip in major customers’ data-center spending could hit these high-multiple names hardest and earliest.
Markets are closed for the weekend, but come Monday in New York, traders will watch to see if SOXX stays above the low-$320s and if it can push back toward Friday’s highs around $331.
The first major macro event next week is the U.S. consumer price index for December, set for release Tuesday, Jan. 13 at 8:30 a.m. ET. The producer price index for November follows on Jan. 14. The Federal Reserve’s policy meeting isn’t until Jan. 27-28, but the CPI report will be the immediate focus for chip stocks and the wider market. (Bureau of Labor Statistics)
