Retail Sales Remain Strong in September

Economic Indicators - U.S. Retail Sales for September increased by +0.4%, the strongest level since summer, indicating strengthening economic growth [2] - Excluding volatile auto sales, Retail Sales rose to +0.5%, while ex-autos and gasoline sales increased to +0.7%, the highest since June [2] - Initial Jobless Claims reported at 241K, below the expected 260K, indicating a slight improvement in the labor market [4] - Continuing Claims reached 1.867 million, the highest since late July, raising concerns about the labor market as it approaches 2 million [4] - Philly Fed Manufacturing index for October jumped to 10.3, significantly above the expected 3.0, indicating strong manufacturing growth [5] Company Earnings - Taiwan Semiconductor (TSM) reported Q3 earnings of $1.94 per ADR, exceeding the Zacks consensus by 20 cents, and up from$1.29 in the previous year [6] - TSM's revenues for Q3 were $23.50 billion, surpassing the expected$22.72 billion, reflecting a +36% year-over-year growth [6] - TSM's gross margins reached 57.8%, with guidance for future margins set between 57-59% [6] - The Travelers (TRV) reported Q3 earnings of $5.24 per share, significantly above the expected$3.29, and up from $1.95 in the previous year [8] - Travelers' revenues for Q3 were$11.85 billion, beating the Zacks consensus by +1.42% [8]