US Stocks Move | Bilibili Up Nearly 5% Pre-market, Advertising Revenue Grows Over 20% for 11 Consecutive Quarters

According to Bloomberg's calculations, TSMC's revenue for the third quarter reached NT$1.49 trillion, mainly driven by strong volume growth in 2nm processes and high utilization rates for 3nm and 5nm processes. Bank of America and HSBC have both raised their target prices, with the highest projection reaching NT$3,800. The company is expected to maintain strong growth momentum in the fourth quarter due to price increases and migration to advanced processes. Capital expenditures will remain high to strengthen its core position in AI infrastructure.

U.S. stock indices are only 0.2% away from all-time highs, but there is turbulence beneath the calm surface: CCC-rated bond spreads have exceeded 1,000 basis points, marking the widest level since 2023 and credit differentiation has reached historic extremes. The gap in RSI between bank stocks and the S&P 500 is the largest in 33 years, indicating deep overselling; 10-year U.S. Treasury yields have soared to 5.30%, a new high since 2002. The upcoming bank stock earnings season, kicking off this Tuesday, is viewed as a crucial moment to test whether the market can bridge the gap between "fundamental resilience and investor concerns."

Elon Musk has recently sent the latest AI signal: he is simultaneously making large bets on chip manufacturing and autonomous vehicle fleets.