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.

Stocks rose Thursday as investors digested strong retail sales data for September. Upbeat earnings from TSMC eased jitters in the chip sector.

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.

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 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.

Wall Street rose as the S&P 500 and Dow hit record highs, driven by surging chip stocks following TSMC’s robust forecast and strong retail sales. Despite gains, healthcare stocks declined, and analysts warned of stretched valuations and potential volatility ahead of the U.