Yellen Calls Out China's 'Unfair' Treatment Of US Companies, Aims To Revive Economic Ties: Semiconductor Stocks Rise
Portfolio Pulse from Piero Cingari
US Treasury Secretary Janet Yellen criticized China's 'unfair' economic system during her inaugural diplomatic visit, accusing it of undermining the competitiveness of US companies. Despite this, she stressed the goal of her visit was to revive economic and trade discussions. Following her comments, US semiconductor stocks rose, with the VanEck Semiconductor ETF (SMH) up 0.9%, NVIDIA Corp. (NVDA) gaining 1.7%, Marvell Technology, Inc. (MRVL) rising by 1.5%, and Taiwan Semiconductor Manufacturing Company (TSM) up 1.5%.
July 07, 2023 | 4:25 pm
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Marvell Technology, Inc. (MRVL) rose by 1.5% following Yellen's comments.
Yellen's comments likely boosted investor confidence in semiconductor stocks, leading to a rise in Marvell's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
NVIDIA Corp. (NVDA) gained 1.7% following Yellen's comments.
Yellen's comments likely boosted investor confidence in semiconductor stocks, leading to a rise in NVIDIA's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The VanEck Semiconductor ETF (SMH) rose by 0.9% following Yellen's comments.
Yellen's comments about reviving economic ties with China and criticizing its 'unfair' economic system likely boosted investor confidence in semiconductor stocks, leading to a rise in the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Taiwan Semiconductor Manufacturing Company (TSM) rose by 1.5% following Yellen's comments.
Yellen's comments likely boosted investor confidence in semiconductor stocks, leading to a rise in TSM's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80