Welcome to Closing Bell. I'm Mike Santoli in for Scott Wapner. We are live from Post 9 at the New York Stock Exchange.

This make-a-break hour begins with the indexes struggling to hold on to Wednesday's powerful relief rally with the majority of stocks,

making further progress so far today, offset by some pressure on key mega-cap names.

Here's the scorecard with 60 minutes to go in regulation.

The S&P 500 been churning all day just around the flat line.

You see it's almost exactly dead flat at the moment around that 59.50 level.

The equal weighted version of that index, though, is up more than half a percent,

about two-thirds of one percent as a matter of fact.

You do see a little bit of broader strength.

Yet the NASDAQ has been the weak spot all day, held down by a further pullback in Apple shares

at stock.

You see now down 3.4 percent.

It is off some 12 percent from its recent record high on chatter or further sluggish China

sales after the stock's pretty steep ramp in late 2024.

Now the broader tape is supported by further slide in treasury yields after yesterday's big drop on some friendly inflation data.

See the two year down below four and a quarter of the tenure around 4.6.

It takes us to our talk of the tape.

With the S&P up, some 3% off Monday's low, will the coming rush of corporate earnings be enough to power a further run toward new highs?

Let's get to the two big earnings themes of the day.

Christina Parks and Neville is here to talk Taiwan semi-related chip names, and Leslie Picker is digging in on the latest crop of bank reports.

Christina, we'll come to you first on that Taiwan Semi report.

Well, Taiwan Semi's earnings matter far beyond the numbers.

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