Taiwan Semiconductor Manufacturing's (TSM) record-breaking quarterly results is driving a surge in the chip sector, with an added boost stemming from upbeat bank earnings. The Dow Jones Industrial Average (DJI) pivoted from its early losses to pace a more than 400-point gain at last check, while the tech-heavy Nasdaq Composite (IXIC) and S&P 500 Index (SPX) boast healthy gains as well. Upbeat jobs data is also aiding in Wall Street's rise, with weekly jobless claims reading at 198,000 for the week of Jan. 10, standing below estimates.
Trip.com Group Ltd (NASDAQ:TCOM) is down 3% to trade at $60.85, extending its selloff following
China's probe into the company regarding a suspected monopoly. TCOM has now shed 20% this week alone, now trading at its lowest mark since August. Options traders were quick to the scene, with 14,000 calls and 8,955 puts across the tape so far -- 12 times the average intraday rate. Most popular is the January 2026 65-strike call, with the 55-strike put from the same series following closely behind and new positions opening at the latter.
Ticketing site Stubhub Holdings Inc (NYSE:STUB) is up 15.8% at $15.78 at last check, ranking as one of the best performers on the New York Stock Exchange (NYSE) today. Investors are looking forward to potentially benefiting from the new class action lawsuit that was just launched against the company. STUB, which went public in September, is eyeing a third-straight win, testing recent pressure at the $14 mark. So far this week, the equity has jumped 22%.
On the flip side of the NYSE, Tencent Music Entertainment Group (NYSE:TME), is off 4.8% at $16.63. While the catalyst is unclear, the shares continue to chip away at their impressive 58% year-over-year gain. TME is eyeing its lowest close since May, with the overhead 20-day moving average adding more pressure to the shares.
