Shares of semiconductor leaders Taiwan Semiconductor Manufacturing (NYSE: TSM), (NASDAQ: INTC), and ASML Holdings (NASDAQ: ASML) were rallying today, up 2.5%, 4.2%, and 5.1%, respectively, as of 1:36 p.m. ET.

There wasn't much company-specific news today. In fact, there was a slight negative for Intel and slight positive for TSMC. And yet, Intel rallied more than TSMC did today.

So the reason behind the sectorwide rally was likely two big macroeconomic data points released today, each of which allayed fears of recession, putting the economic "soft landing" scenario firmly back on track.

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Source Fool.com