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Wall Street Futures Climb as TSMC’s Record Earnings Outshine Trade Tensions

U.S. stock futures edged higher on Thursday, lifted by Taiwan Semiconductor Manufacturing Company’s (TSMC) blockbuster third-quarter results, which reassured investors amid renewed U.S.-China trade frictions. TSMC, the world’s largest contract chipmaker, reported revenue of $33.1 billion , up more than 30% year-over-year , with profits surging nearly 39% thanks to booming demand for artificial intelligence chips. The company also raised its full-year outlook, signaling confidence that AI-driven growth will continue to fuel the semiconductor sector. The upbeat earnings rippled across Wall Street: Nasdaq 100 futures rose about 0.6% , buoyed by gains in AI-linked stocks like Nvidia. S&P 500 futures advanced roughly 0.5% , while Dow Jones Industrial Average futures added 0.3% , despite its smaller tech weighting. These gains came even as escalating U.S.-China trade tensions injected fresh uncertainty into global markets. Washington and Beijing have recently exchanged new t...
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How Loblaw and Metro are coping with food price inflation and sustainability challenges

 


Two of Canada's largest grocery chains, Loblaw and Metro, have reported increased sales and profits for the third quarter of 2023, despite facing public criticism over their role in food price inflation. 

Loblaw posted a net income of $421 million, up 12% from the same period last year, while Metro saw its net earnings rise 9% to $191 million. Both companies attributed their strong performance to higher demand for food and pharmacy products amid the ongoing pandemic, as well as their investments in e-commerce and digital initiatives. 

However, they also acknowledged the challenges of rising costs and supply chain disruptions that have contributed to higher food prices for consumers. Loblaw and Metro have recently added a new title to their executive teams: Chief Sustainability Officer, who will be responsible for overseeing their environmental and social impact strategies.



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