Midday Market Movers: AMD Surges on New Graphics Card Buzz, Boeing Dips Amid Inspection Concerns
Explore the latest U.S. stock market trends as the S&P 500 nears record highs, AMD prepares to launch a new graphics card, and Boeing faces challenges with its 737 Max inspections.
Highlights at Midday Trading
- U.S. stock markets showed gains by midday Thursday, with the S&P 500 approaching historic peak levels.
- Shares of Advanced Micro Devices Inc. (AMD) rose by 2.2% following news of a January release for its latest graphics card.
- Boeing Co. shares declined after alerting airlines to inspect 737 Max rudder controls due to possible loose bolts, raising production concerns.
On Thursday afternoon, U.S. equities edged higher as optimism continued, driving the S&P 500 closer to its all-time high and marking a potential ninth consecutive week of gains. This momentum reflects the ongoing Santa Claus Rally, with the Nasdaq nearing its strongest annual performance since 2003, and the Dow Jones Industrial Average maintaining levels above its previous record close.
AMD led the S&P 500 gains, fueled by reports of an upcoming graphics card launch scheduled for January 24. Meanwhile, Match Group (MTCH) shares climbed as KeyBanc analysts upheld an “overweight” rating, signaling confidence in the stock’s prospects.
Nike Inc. (NKE) contributed to the Dow’s upward movement after Truist increased its price target, buoyed by positive expectations regarding the company’s cost management strategies.
Conversely, Boeing Co. (BA) experienced a downturn following its notification to airlines about the need to inspect the rudder control systems on its 737 Max aircraft for potentially loose bolts, adding to ongoing production challenges.
Palo Alto Networks Inc. (PANW) shares dipped after completing its acquisition of Talon Cyber Security, a provider of enterprise browser technology.
In commodity markets, oil futures declined, while the 10-year U.S. Treasury yield rose. The U.S. dollar strengthened against the euro and British pound but weakened relative to the Japanese yen. Cryptocurrency performance was mixed, with Bitcoin trading lower.
Discover engaging topics and analytical content in Markets News as of 02-01-2024. The article titled " Midday Market Movers: AMD Surges on New Graphics Card Buzz, Boeing Dips Amid Inspection Concerns " provides new insights and practical guidance in the Markets News field. Each topic is meticulously analyzed to deliver actionable information to readers.
The topic " Midday Market Movers: AMD Surges on New Graphics Card Buzz, Boeing Dips Amid Inspection Concerns " helps you make smarter decisions within the Markets News category. All topics on our website are unique and offer valuable content for our audience.