Shares of leading semiconductor companies, including Taiwan Semiconductor Manufacturing (TSMC), Intel, and ASML Holdings, experienced significant gains today. As of 1:36 p.m. ET, TSMC was up 2.5%, Intel rose 4.2%, and ASML Holdings increased by 5.1%. This rally was driven by positive macroeconomic data that alleviated fears of a recession and reinforced the "soft landing" scenario for the economy.

The U.S. Commerce Department reported that July retail sales exceeded expectations, rising 1% month-over-month, compared to the anticipated 0.3%. This rebound was particularly strong in electronics and auto sales, sectors heavily reliant on semiconductors. Additionally, the Labor Department announced that unemployment claims for the week ending August 10 were lower than expected, further boosting market sentiment.

Despite some mixed company-specific news, such as Softbank's withdrawal from a chipmaking agreement with Intel, the overall positive economic indicators led to a sector-wide rally. Intel's stock outperformed TSMC's, possibly due to its lower valuation and higher sensitivity to macroeconomic data.

The semiconductor industry, known for its cyclical nature, responded positively to the improved economic outlook. Both TSMC and Intel are expected to increase their investments in ASML's EUV lithography machines, driven by higher demand signals.