Are Tri-Color and First Brands “Cockroaches?”

What’s in Today’s Report:

• Are Tricolor and First Brands “Cockroaches?”

Futures are solidly higher following better than expected Taiwan Semiconductor earnings (TSM).

TSM beat earnings and raised guidance, as chip demand is still very strong while the AI cap-ex boom remains in force.

Today there are two notable economic reports, Philly Fed (E: 7.5) and the Housing Market Index (E: 33) along with numerous Fed speakers.  From a data standpoint, given the lack of economic reports lately, solid readings from both reports will be welcomed by investors as it will help reinforce that growth is stable.

Turning to the lineup of Fed speakers today, Waller at 8:00 a.m. ET is likely the only potential market mover because he’s in the running to be the next Fed chair.  Other Fed speakers today include Barkin (8:00 a.m., 12:45 p.m. & 4:30 p.m. ET), Miran (9:00 a.m. & 4:15 p.m. ET), Bowman (10:00 a.m. ET), Kashkari (6:00 p.m. ET).

Finally, earnings season continues to gain momentum and some reports we’ll be watching today include:  TSM ($2.59), SCHW ($1.23), BK ($1.76), USB ($1.11), TRV ($5.88), IBKR ($0.50), CSX (0.42).