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24 Jul 2020

S&P 500 top movers: AMD surges after Intel announces delay in next chip technology

  • Wall Street's main indexes suffer heavy losses on Friday.
  • AMD shares rise sharply after competitor Intel announced delay in next chip.
  • Intel shares lose more than 16% as the biggest loser.

Major equity indexes started the day deep in the red and continued to edge lower as investors seek refuge amid heightened US-China tensions. As of writing, the S&P 500 Index was down 0.92% on a daily basis at 3,206 points.

Apple Inc, Amazon, Google Alphabet, Facebook, Visa Inc, MasterCard Inc, Samsung, Pfizer Inc, Paypal Inc will be reporting second-quarter earnings next week.

S&P 500 top movers

Earlier in the day, Intel Corp (INTC) announced that its new 7-nanometer chip technology was expected to be delayed by six months. Pressured by this announcement, INTC fell sharply on Friday and was last seen losing 16.35% on a daily basis at $50.25.

Among the other top technology shares, Western Digital Corp (WDC), Xerox Holdings Corp (XRX), Micron Technology Inc (MU) and Seagate Technology PLC (STX) shares are down between 6.5% and 4.4%.

On the other hand, competitor Advanced Micro Devices Inc (AMD) capitalized on this headline and became the biggest gainer of the day. As of writing, AMD was up 14.35% on the day at $68.11.

 

Jul 24, 2020

United States Baker Hughes US Oil Rig Count rose from previous 180 to 181

United States Baker Hughes US Oil Rig Count rose from previous 180 to 181
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Jul 24, 2020

USD/CAD Price Analysis: Bulls keep hold of 1.34 for now and there are signs a base is forming

USD/CAD has pushed higher on Friday as the oil price fell and the risk appetite in stocks dipped. In the last four sessions the price has fallen but t
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