U.S. equity markets opened mixed Thursday morning as investors digested a flurry of high-profile earnings from tech, aerospace, and airline giants. At 9:30 a.m. ET, the Dow Jones Industrial Average fell 34.89 points, or 0.08%, to 44,219.90, weighed down by early weakness in industrials. The S&P 500 edged up 2.19 points, or 0.03%, to 6,265.89, while the Nasdaq Composite led the major averages, rising 40.80 points, or 0.20%, to 20,771.30.

Crude oil futures for August delivery climbed 0.44% to $65.48 a barrel, while gold futures slid 1.09% to $3,322.50, reflecting a tilt toward risk assets as investor sentiment steadied following strong corporate earnings

TSMC Lifts Tech Sentiment on AI Momentum Taiwan Semiconductor Manufacturing Company (TSMC) surged more than 4% in premarket trade after the chipmaker posted record second-quarter earnings. Net income soared 60.7% year-over-year to $13.5 billion, as AI and high-performance computing (HPC) chips—now 60% of total revenue—drove a 39% increase in sales to $30.07 billion. The company also lifted its 2025 revenue growth forecast to approximately 30%, up from “mid-20s,” citing robust demand and a ramp-up in U.S.-based production.

Advanced nodes (7nm and below) made up 74% of wafer revenue, with 3nm alone contributing 24%—a key margin booster amid FX and startup headwinds. TSMC’s earnings report provided a boost to semiconductor stocks broadly, lifting the Philadelphia Semiconductor Index and bolstering tech sentiment early in the session.

GE Aerospace Surprises to the Upside GE Aerospace shares traded higher following a blowout Q2 that exceeded expectations on both revenue and earnings. The company reported adjusted EPS of $1.66 (vs. $1.43 est.) on $10.2 billion in revenue, beating the $9.6 billion forecast. Commercial aviation demand and a surge in defense orders drove 27% year-over-year order growth and a 29% jump in commercial services revenue.

GE raised its full-year EPS outlook to $5.60–$5.80, and its 2028 target to $8.40, citing a record $175 billion backlog and easing supply chain constraints. CEO Larry Culp attributed the performance to “robust end-market demand” and continued gains from GE’s FLIGHT DECK operational framework.

United Airlines Flies Past EPS Estimates Despite Revenue Miss United Airlines opened steady after beating Q2 earnings expectations with adjusted EPS of $3.87, topping the $3.81 consensus. Revenue of $15.2 billion fell slightly short of estimates, but stronger-than-expected operational performance, disciplined cost control, and a rebound in business travel lifted investor sentiment. Premium cabin revenue rose 5.6%, while overall capacity increased 5.9% year-over-year.

The airline raised the lower end of its full-year EPS forecast to $9.00–$11.00, up from $7.00–$13.50 previously, noting improving demand conditions and less macroeconomic uncertainty. CEO Scott Kirby said, “The world is less uncertain today than it was during the first six months of 2025,” signaling confidence in a robust second half.

Outlook Despite lingering concerns over tariffs, fuel prices, and global macro conditions, early market tone is constructive, buoyed by strong earnings and signs of AI-driven demand resilience. The Nasdaq’s early strength underscores the continued rotation into tech, while investors remain watchful of energy and defense-linked headlines.