U.S. stocks close higher as chip, financial stocks rally

U.S. stocks ended higher on Thursday, snapping a two-day losing streak as a surge in semiconductor and financial shares bolstered investor confidence.

The Dow Jones Industrial Average rose 292.81 points, or 0.6 percent, to 49,442.44. The S and P 500 added 17.87 points, or 0.26 percent, to 6,944.47. The Nasdaq Composite Index increased 58.27 points, or 0.25 percent, to 23,530.02.

Seven of the 11 primary S and P 500 sectors ended higher, with utilities and industrials leading the gainers by going up 1.04 percent and 0.93 percent, respectively. Meanwhile, energy and health led the laggards by losing 0.91 percent and 0.58 percent, respectively.

The rally was primarily spearheaded by the technology sector following a record-breaking quarterly report from TSMC, which announced plans to increase its 2026 capital expenditure to between 52 billion and 56 billion U.S. dollars, a move seen as a strong vote of confidence in the sustained global demand for AI infrastructure.

TSMC shares climbed 4.44 percent. The optimism spread across the semiconductor industry with the VanEck Semiconductor ETF rising 2.08 percent, while industry leaders Nvidia and Micron Technology gained 2.13 percent and 0.98 percent, respectively.

The financial sector also provided significant upward momentum as investors processed the latest wave of fourth-quarter earnings. Goldman Sachs and Morgan Stanley both reported surging profits, driven by a year-end resurgence in global dealmaking.

Meanwhile, asset management giant BlackRock saw its shares jump 5.93 percent after ending 2025 with a record 14 trillion dollars in assets under management and exceeding quarterly earnings estimates.

On the economic front, data from the U.S. Department of Labor indicated continued resilience in the U.S. job market. Initial requests for unemployment benefits for the week ending Jan 10 fell to 198,000, significantly lower than the 215,000 claims projected by economists.

Further supporting the market was a notable decline in energy costs. Global oil prices retreated, with both Brent crude and West Texas Intermediate futures sliding more than 4 percent during the session.

U.S. stocks close higher as chip, financial stocks rally

The UN must resolutely defend the victorious outcomes of World War II and reject any attempt to revive militarism, said China's Deputy Permanent Representative to the United Nations Sun Lei on Thursday. 

Sun made the remarks to the UN General Assembly (UNGA), following UN Secretary-General Antonio Guterres who addressed the meeting on priorities for 2026.

Guterres emphasized the three principles that guide the world body's work in 2026: adherence to the UN Charter, peace with justice -- peace between nations and peace with nature, and unity in an age of division.

All nations must resolutely uphold the purposes and principles of the UN Charter, said Sun.

"The UN must resolutely defend the victorious outcomes of World War II and uphold the post-war international order, firmly oppose unilateralism and hegemony, and reject any attempt to revive militarism," he said.

The Chinese envoy said countries must advance the three pillars in a balanced manner.

"Peace and security, development, and human rights are mutually reinforcing, and none should be neglected," he said.

He also stressed reforming and improving global governance. 

"China will work with all parties to firmly support multilateralism and the international system with the UN at its core, maintain peace, promote development, and advance the building of a community with a shared future for humanity," said Sun.

UN must resolutely defend victorious outcomes of World War II: Chinese envoy