Economy

Homebuilder Confidence Jumps as Fed Rate Cuts Improve Housing Outlook

Builder confidence posted its largest monthly gain since January as Federal Reserve rate cuts began lowering mortgage costs. The improvement comes as private sector data becomes crucial with government housing reports delayed during the shutdown.

Homebuilder Sentiment Rebounds Sharply in October

The National Association of Home Builders/Wells Fargo Housing Market Index reportedly surged five points to 37 in October, marking its highest level since April and the largest monthly improvement since January 2024, according to the latest survey data. The index, which measures builder confidence in current and expected sales conditions, remains below the 50 threshold that separates positive from negative sentiment, indicating that while pessimism is abating, challenging conditions persist across the housing sector.

BusinessTechnology

AI Stocks Drive Market Gains as TSMC Reports Strong Earnings

Technology stocks led market gains Thursday after TSMC reported stronger-than-expected quarterly profits. The chipmaker’s positive outlook signals continued robust demand for AI-related semiconductors according to analysts.

Market Advances on AI Optimism

U.S. stock indexes edged higher Thursday as positive signals from the artificial intelligence sector boosted technology shares, according to market reports. The S&P 500 rose 0.4%, though trading remained volatile with repeated swings between gains and losses throughout the week. The Dow Jones Industrial Average climbed 85 points, or 0.2%, while the Nasdaq composite advanced 0.7% by late morning trading, sources indicate.

Business

Howard Schultz Urges CEOs to Stay Connected With Customers Post-Retirement

Howard Schultz, despite retiring from Starbucks’ board two years ago, continues to visit stores and interact with customers. The founder stresses that curiosity and firsthand experience are crucial for effective leadership. His insights come as Starbucks undergoes significant strategic changes under current CEO Brian Niccol.

Former Starbucks Leader Maintains Customer Connection

Howard Schultz, who stepped down from the Starbucks board of directors two years ago, continues to demonstrate his commitment to firsthand customer engagement, according to reports from his recent LinkedIn interview. The company founder reportedly visits Starbucks locations worldwide to observe customer experiences directly, stating “that’s where the action is” for business leaders.

SemiconductorsSustainability

TSMC Reports Record $15 Billion Quarterly Profit as AI Demand Surges

TSMC has announced a record $15 billion net profit for the third quarter, representing a nearly 40% surge year-over-year. The world’s largest semiconductor manufacturer is benefiting from unprecedented artificial intelligence demand and strategic global expansion efforts.

Record Quarterly Performance Exceeds Expectations

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest semiconductor manufacturer, has reported a nearly 40% surge in net profit for the July-September quarter, according to reports released Thursday. The company reportedly achieved a record 452.3 billion New Taiwan dollars ($15 billion) in net profit, significantly exceeding analysts’ forecasts.