Follow all the latest U.S. market action for Thursday here to see if stocks can continue to rally as new tariff regime takes effect and Apple shares are revived.

President Donald Trump stunned markets Wednesday by announcing 100% tariffs on imported semiconductor chips — but major chip stocks rallied. Taiwanese chip giant TSMC's stock closed 4.9% higher. In South Korea,

Uber’s stock looked to rally after quarterly profit and bookings beat expectations, and a $20 billion share-repurchase program was announced.

Uber unveiled a $20 billion stock buyback program and forecast its third-quarter bookings above Wall Street estimates on Wednesday, as the ride-hailing and delivery services company benefits from growing adoption of its paid loyalty program.

Uber Technologies shares were falling Wednesday. Better-than-expected earnings and a $20 billion stock buyback weren’t enough to add another gear to the ride-hailing company’s strong gains for the year.