## [# Travelers' Results Boost Financial ETFs as Bond Funds Dip](/sections/news/smh-usd-shoc-soar-investors-bet-ai)
# Travelers' Results Boost Financial ETFs as Bond Funds Dip
- • LIVE COVERAGE
3 Updates
[  ](/contributors/ron-day)
Thu, October 17, 2024 At 1:59 PM EDT
[Ron Day ](/contributors/ron-day) | Contributing Editor | [ Follow Author ](/etf/login)
## Broad equity ETFs head for records after investors cheer TSMC results.
Stock indexes neared closing records again as Travelers Cos. Inc. rose on third-quarter results that beat estimates and Taiwan Semiconductor Manufacturing Company Ltd. gained after raising its profit outlook while topping analysts' profit and sales estimates.
At the same time, a solid retail sales report dimmed the prospects for aggressive rate hikes, pushing treasuries lower and driving down fixed income ETFs.
The [**Invesco KBW Property & Casualty Insurance ETF (KBWP)**](/kbwp) jumped 1.5% in afternoon trading, adding to its 37% gain over the past year. That fund has an 8.3% allocation to Travelers, whose stock gained 8% after reporting so-called core earnings that crushed analysts' expectations.
ETFs holding chips jumped after Taiwan Semi's earnings report. The [**VanEck Semiconductor ETF (SMH)**](/smh) popped 2.7% while the [**ProShares Ultra Semiconductors (USD)**](/usd) leapt 4.3%.
Broad markets also rose. QQQ, the tech-heavy [**Invesco QQQ Trust**](/QQQ) rose 0.4% while SPY, the [**SPDR S&P 500 ETF Trust**](/SPY) edged more than 0.2% higher. DIA, the [**SPDR Dow Jones Industrial Average ETF Trust**](/DIA) jumped 0.3%.
September retail sales rose 0.4%, beating the 0.3% forecast from economists surveyed by The Wall Street Journal. Treasuries sank on the unexpected growth, and the [**iShares 20+ Year Treasury Bond ETF (TLT)**](/tlt) lost 1.7% and the [**Vanguard Total Bond Market ETF (BND)**](/bnd) lost 0.5%.
*Bottom fixed income performers 1 month*
[](/tools/etf-pulse)
[  ](/authors/kristin-myers)
Thu, October 17, 2024 At 10:04 AM EDT
[Kristin Myers ](/authors/kristin-myers) | SVP Content/EIC | [ Follow Author ](/etf/login)
## SMH, USD Jump on Taiwan Semiconductor Earnings Beat
Chipmaker Taiwan Semiconductor Manufacturing Company Ltd. (TSM) raised its profit outlook while beating analysts' expectations for profit and sales.
The earnings beat boosted semiconductor ETFs as investors continued to bet on AI. TSM jumped 13% on the news. Chip maker [Nvidia](/stock/NVDA) also jumped in sympathy, climbing more than 3%.
ETFs holding chips soared in early trading on Thursday. SMH, the [**VanEck Semiconductor ETF**](/SMH) popped 3% Thursday. Both NVDA and TSM account for more than 30% of the fund. USD, the [**ProShares Ultra Semiconductors**](/USD), leapt 4%.
Semiconductors have been on a rollercoaster as investors are anxious about the growth potential of AI and the chipmakers that would make the technology possible. While SMH is up over 41% this year, it's dropped nearly 10% over the past 3 months. According to the etf.com [Pulse Tool](https://etf.com/tools/etf-pulse), the fund is one of the top 10 best performing equity funds so far this year.
***Year-to-date gains***
[](/tools/etf-pulse)*Source: ETF Pulse*
SHOC, the [**Strive U.S. Semiconductor ETF**](/SHOC) jumped 1.3%. Chipmaking giant Nvidia is nearly a quarter of the fund. The ETF has seen losses in excess of 12% over the past 3 months. SOXX, the [**iShares Semiconductor ETF**](/SOXX) notched a 2% gain Thursday.
Broad markets also rose. QQQ, the tech-heavy [**Invesco QQQ Trust**](/QQQ) rose more than a third of a percentage point, while SPY, the [**SPDR S&P 500 ETF Trust**](/SPY) edged more than .10% higher. DIA, the [**SPDR Dow Jones Industrial Average ETF Trust**](/DIA) jumped a quarter of a percentage point.
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