The Dow Jones Industrial Average advanced on Thursday to its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust U.S. consumer and TSMC's upbeat forecast buoyed chipmakers' stocks.

U.S. stocks were higher, with the Dow on pace for another record close, though equities were off their best levels of the session in afternoon trade. The Dow Jones Industrial Average was up 0.3%, near 43,208, after setting an intraday high of 43,289.76, according to FactSet Data.

The Dow Jones Industrial Average surged Thursday morning, driven by robust retail sales data and a rally in chip stocks. Consumer spending saw a notable increase in September, reflecting growing economic momentum following the Federal Reserve’s recent interest rate cuts.

The S&P 500 is on track to report 7% year-per-year earnings growth for the third quarter, according to estimates from FactSet.

The Dow Jones Industrial Average reached new highs amidst robust U.S. retail sales and an optimistic forecast from Taiwan Semiconductor Manufacturing Co. The performance of the chip sector buoyed investor sentiment despite mixed performances across other Wall Street indices such as the S&P 500 and Nasdaq Composite.

The Dow Jones Industrial Average advanced on Thursday to its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust US consumer and TSMC's upbeat forecast buoyed chipmakers' stocks.

The Dow Jones Industrial Average ended higher on Thursday, its fourth record close in the last five sessions, as stronger-than-expected monthly retail sales indicated a robust U.S. consumer and chips stocks were buoyed by TSMC's upbeat forecast.

Taiwan Semiconductor Manufacturing's earnings beat and solid outlook created tailwinds for several chip stocks.