Chip Giant TSMC beats earnings.
We'll dive into its results as the sector contends with export restrictions and looming tariffs.
Plus, Japan and Italy try to find common ground with the White House on trade,
and why the dollar's recent slide is becoming the rest of the world's problem.
It's going to be harder to sell to America,
so that's a big problem for foreign economies when they're already facing Trump's tariffs,
and the weakness of the dollar is really the last thing they need right now.
It's Thursday, April 17th.
I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News,
the top headlines and business stories moving your world today.
Global markets are finding their footing a day after a tech stock fueled route on the Nasdaq that was triggered by deepening trade restrictions targeting chip industry leaders in video and AMD.
Should the Chinese market remain off limits,
it could spell challenging times ahead for the biggest names in semiconductors.
Though for one of the hottest sectors in recent years,
there continues to be ample news to get excited about, including from Taiwan's semiconductor manufacturing co.
The world's largest contract chipmaker, whose clients include Apple and Nvidia,
reported earnings this morning, beating analyst estimates on a 60% jump in profits.
Randy Abrams is head of Taiwan Research at UBS, and he joins us this morning from Taipei.
Randy, what jumped out to you from TSMC's latest update?
We've just gotten off the earnings call on a week of rather rocky updates from leading names in the chips industry.