Key Takeaways
- U.S. equities were higher at midday Thursday as the S&P 500 neared an all-time high.
- Advanced Micro Devices Inc. (AMD) shares gained on reports it would introduce a new graphics card in January.
- Boeing Co. fell as it alerted airlines about potential loose bolts on its 737 Max aircraft, adding to production worries.
U.S. equities traded marginally higher at midday Thursday as the S&P 500 remained within striking distance of its all-time high, with the index en route to its ninth straight week of gains.
The Santa Claus Rally appeared to be materializing, as the Nasdaq edged higher to near its best year since 2003, and the Dow Jones Industrial Average (DJIA) remained above the all-time high closing it set Wednesday.
Advanced Micro Devices Inc. (AMD) shares moved higher by 2.2% to lead the S&P 500 on reports that the company would release a new graphics card on Jan. 24.
Match Group (MTCH) shares gained as KeyBanc analysts maintained an “overweight” rating on the stock.
Nike Inc. (NKE) shares led the Dow higher after Truist raised its price target on the shoe and athletic wear retailer on improved optimism about cost controls.
Boeing Co. (BA) shares fell after it urged airlines to test 737 Max rudder control systems for a potentially loose bolt, the latest in a string of production issues that have undermined the aircraft maker.
Palo Alto Networks Inc. (PANW) stock was down after its announcement that it completed its acquisition of enterprise browser technology provider Talon Cyber Security.
Oil futures declined. The yield on the 10-year Treasury note moved higher. The U.S. dollar was up versus the euro and pound, but down against the yen. Major cryptocurrencies were mixed, with Bitcoin trading lower.