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🔥 The Market's Newest Hot Sector: And No It's Not Chip Stocks

$TSM lifts chip stocks higher, but it's no longer the market's hottest sector. Plus, retail sales numbers come in strong

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Happy Thursday! Sometimes I don’t understand my grandma. She goes down to Florida, and then does everything she can to stay out of the sun: umbrellas, big hats and always finding the shade. But when it comes to investing, I’m the opposite; I like to go where it’s hottest. And right now, that’s the nuclear sector. Plus, chip stocks are recovering from Tuesday’s losses, bringing us back to all-time highs.

—Aaron Bry

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MARKET SNAPSHOT

Yesterday: The market edged higher, with United Airlines and the rest of the space soaring higher and taking us close to all-time highs.

On Our Radar: Initial jobless claims and retail sales came out this morning before the open, showing a resilient consumer and labor market.

TOP STORY

What Happened: AWS, Amazon’s cloud computing subsidiary, said it signed three new agreements on Wednesday to support the development of nuclear energy projects, including the construction of several new Small Modular Reactors (SMRs).

So: Amazon inked a deal with Energy Northwest in Washington to build four advanced SMRs. Here are the stocks that are bouncing on the news.

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FIVE ZINGERS

Cramer’s Choice: Jim Cramer said that Abbvie is doing ‘very well’ but prefers this company in the same space.

Can Anyone $SAVE Spirit?: Spirit Airlines is under fire as competitors in the airline space heat up. Here’s what’s going on.

Chip Rip: Chip stocks got hammered Tuesday after $ASML’s earnings, but are coming back strong following $TSM’s report, released overnight.

Warning Sign?: Are Warren Buffett’s stock sales a sign of a weakening market? Here’s what one hedge fund manager says.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Basically: Shares of foundry Taiwan Semiconductor Manufacturing Company Ltd rose in premarket trading on Thursday, positioning the company on track to cross the $1 trillion market capitalization threshold.

So: Taiwan-based TSMC reported a 39% year-over-year and 12.8% sequential increase in revenue to NT$759.69 billion ($23.50 billion), exceeding the company’s guidance of $22.4 billion to $23.2 billion and the consensus estimate. $NVDA, $SMCI and other stocks in the chip space are ripping higher on the news.

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