Taiwan Semiconductor reports a third-quarter earnings surge of 54%, Nvidia stock is on track for a record close, Travelers rises sharply after topping profit estimates, and Elevance Health tumbles after cutting guidance.

The stock market is trading higher midday. The S&P 500 gained 0.32% and the tech-heavy Nasdaq Composite added 0.56%. The Dow Jones Industrial Average rose 0.4%, while the Russell 2000 Index lost 0.3%.

Key Takeaways Major U.S. indexes advanced at midday Thursday as a strong report on demand for artificial intelligence chips boosted the tech sector.Nvidia supplier TSMC posted strong profits on AI chip sales,