AMD Share Price and News: AMD shows strength and closes higher to outpace markets

NASDAQ:AMD gained 0.07% on Tuesday as the NASDAQ fell by 0.9%.
AMD rival NVIDIA is set to report its earnings on Wednesday.
Intel is joining AMD in the GPU industry with Intel Arc.

Stocks Reporter FXStreet

NASDAQ:AMD showed just how strong the stock has become as of late, shrugging off a near total market sell off to close Tuesday in the green. Shares of AMD added 0.07% and finished the trading session at $107.56. It was another red day for the chip industry as well with NVIDIA (NASDAQ:NVDA) falling by 2.47% and Intel (NASDAQ:INTC) dipping by 1.46% during the session. In a year that has been affected by a global chip shortage, AMD has seen its stock continuously hit new all-time highs on a near daily basis over the past few weeks.

Speaking of NVIDIA, one of AMD’s chief rivals is set to report its second quarter earnings on Wednesday. The stock has pulled back as of late ahead of its report, which is generally a sign that the market is either apprehensive or bearish about the numbers. In the first quarter of this year, NVIDIA reported an 84% year over year rise in revenues and a 13% sequential rise from the fourth quarter of 2020. Can the company top the $5.66 billion it reported in Q1? All eyes will be on CEO Jensen Huang on Wednesday, with investors looking for an update on the company’s acquisition of Arm.

AMD stock price

AMD rival Intel is set to join in the GPU industry as well with a new range of products called Intel Arc. Intel has a lot of ground to make up on AMD and NVIDIA, who are the two frontrunners for GPUs. Intel Arc will be rolling out graphics cards for both PCs and laptops, and should begin hitting the market as early as the first quarter of 2022.

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FXStreet

GBP/USD advaces beyond 1.3450 after BoE decision, US Q2 GDP

GBP/USD gains positive momentum on Thursday, surpassing 1.3450 and trading at fresh multi-week highs. The Bank of England decided to maintain the benchmark rate unchanged at 3.75%. The MPC voted 6-3 to keep rates on hold, with the 3 dissenters favoring a rate hike. US Q2 GDP missing expectations helped the pair advance, while renewed US Dollar weakness across the FX board pushed the pair further up ahead of the monthly close.

EUR/USD confortable around 1.1530, highest in six weeks

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Gold recovers the $4,100 level as US Dollar weakens further

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Ripple Price Forecast: XRP builds recovery momentum as whales increase exposure

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The FOMC: Rates left on hold; dollar falls as Warsh fails to vote for hike

The Fed kept interest rates on hold today, defying a 30% chance in the Fed Funds Futures market that rates would rise. The Committee voted 9-3 to keep rates on hold, with governors Kashkari, Hammack and Logan all voting to hike rates due to concerns about inflation. The immediate market reaction has been a sharp drop in the USD on a broad basis.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.