AMD, Nvidia Flooding Nasdaq with Gains | Herd on Wall St

Good morning, traders. Happy Wednesday, an hour in, the market attempted a rebound  after AMD earnings pushed Semiconductors and Tech higher. Today is yet another major earnings day, with $Meta Platforms(META.US)$ after the bell, along with $Qualcomm(QCOM.US)$ and more. Investors can tune in live on moomoo to watch the FOMC statement at 2 pm ET, and press conference with Jerome Powell at 2:30 pm ET.

$Advanced Micro Devices(AMD.US)$ was climbing 7% Wednesday after the chip company gave a third-quarter outlook that was better than expected and reported second-quarter earnings and revenue that beat estimates. On the news, the semiconductor industry started to pop off again.

$NVIDIA(NVDA.US)$ climbed 10%, set to release earnings Aug 28th. $ASML Holding(ASML.US)$, a semiconductor supplier, climbed 7%. $Micron Technology(MU.US)$ climbed 7%, $Arm Holdings(ARM.US)$ climbed 5%. $Taiwan Semiconductor(TSM.US)$ climbed 6%.

$Microsoft(MSFT.US)$ It missed its report just barely and fell by 1.2%, after its revenue from data centers and the cloud, especially, was not enough.

Wednesday, $Humana(HUM.US)$ posted second-quarter adjusted EPS of $6.96, down from $8.94 a year ago, beating the consensus of $5.85.

Shares of $Vistra Energy(VST.US)$ jumped Wednesday after its request to extend its operation of the Comanche Peak nuclear power plant through 2053 was granted. It climbed 12%, the highest on the S&P 500 followed by $Match group(MTCH.US)$, which was also up 12% after its earnings turn around Tuesday.

In commodities, $Crude Oil Futures(SEP4)(CLmain.US)$ jumped 3% after duel strikes against Israeli enemies in Iran, and Beirut fanned flames of tension in the Middle East. $Bitcoin(BTC.CC)$ fell 1.5% to $66k, Gold and silver both climbed, while the U.S. 2-year fell and the U.S. 10-year fell.

The market generally pulled back on Tuesday but advanced Wednesday morning.  Just past 11:30 am ET the $S&P 500 Index(.SPX.US)$ climed 1.78%, the $Dow Jones Industrial Average(.DJI.US)$ climbed 0.58%, and the $Nasdaq Composite Index(.IXIC.US)$ climbed a whopping 2.7%.

Investors can watch for PMI data on Thursday and Nonfarm monthly payroll employment data on Friday. Investors will alkso await two more Mag 7 earnings reports:   $Apple(AAPL.US)$ and   $Amazon(AMZN.US)$ on Thursday, alongside a host of other $100B+ market cap giants.

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