Midday Stock Transfer: AMD Shares Rise on Graphics Card Report, Boeing Shares Fall on Inspection Issue
In the first half of Thursday, U.S. stocks rose slightly as the S&P 500 approached its all-time high. Shares of Advanced Micro Devices Inc. (AMD) rose by 2.2% following reports that the company will launch a new graphics card in January. Boeing (BA) shares fell after the company warned airlines about the potential for loose screws on its 737 Max planes, raising production concerns.
U.S. Stocks at Midday
U.S. stocks traded slightly higher at midday on Thursday, with the S&P 500 remaining close to its all-time high, heading toward nine consecutive weeks of gains. The “Santa Claus rally” appears to be unfolding, as the Nasdaq rose slightly, nearing its best year since 2003, while the Dow Jones Industrial Average (DJIA) remained above its all-time high reached on Wednesday.
AMD Shares Rise on Graphics Card Report
Advanced Micro Devices Inc. (AMD) shares rose by 2.2% to lead the S&P 500 after reports indicated that the company will launch a new graphics card on January 24. This card is expected to be innovative and cater to users in the gaming and graphic design sectors.
Match Group Shares Rise
Shares of Match Group (MTCH) rose after analysts at KeyBanc maintained an “overweight” rating on the stock. Match Group is one of the largest companies in the online dating space, operating several popular platforms including Tinder, OkCupid, and Match.com.
Nike Shares Rise
Nike Inc. (NKE) shares rose after Truist raised the company’s price target on footwear and athletic apparel due to increasing optimism about cost controls. Nike is one of the largest companies in the sportswear and footwear industry, enjoying significant popularity worldwide.
Boeing Shares Fall
Boeing Co. (BA) shares fell after the company urged airlines to test the slide control systems on their 737 Max planes due to the potential for loose screws, marking the latest in a series of production issues that have plagued the aircraft manufacturer.
Palo Alto Networks Shares Decline
Palo Alto Networks Inc. (PANW) shares fell after announcing the completion of its acquisition of Talon Cyber Security, which specializes in secure browser technology for enterprises. Palo Alto Networks is a leading company in information security and data protection.
Oil Futures Decline and U.S. Dollar Rises
Oil futures retreated, while 10-year Treasury yields rose. The U.S. dollar strengthened against the euro and the British pound but weakened against the Japanese yen. Major cryptocurrencies were mixed, with Bitcoin experiencing a decline.
These are the key midday stock market news highlights for Thursday. You can share any news tips with Investopedia reporters via email at tips@investopedia.com.
Sources:
– Yahoo! Finance. “Stock Market News Today: Stocks Pop as Nasdaq Closes in on Best Year Since 2003.”
– Digital Trends. “AMD Might Have a New Graphics Card Next Month, Too.
– Best Stocks. “Analyst Remains Confident in Match Groups Potential for Growth Despite Revised Price Target.”
– CNBC. “Top 10 Things To Watch in the Stock Market Thursday.”
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