Shares of Advanced Micro Devices Inc. (AMD) shot up 11% in afternoon trade, to pace the PHLX Semiconductors Index's gainers, as the U.S.-China trade-war truce ( ) helped boost sentiment toward the recently beaten down sector. AMD's trading volume swelled to 101.7 million shares, making the stock the most actively traded on the major U.S. exchanges. The semiconductor index (SOX) rallied 2.5%, with all 30 components gaining ground. The sector had been underperforming the broader market amid fears tariffs resulting from the trade war would weight on earnings and sales, with the SOX down 9.3% over the past three months while the S&P 500 has down 3.9%. Among the SOX's other more-active components Monday, shares of Micron Technology Inc. (MU) climbed 3.1%, Intel Corp. (INTC) rose 1.3%, Qualcomm Inc. (QCOM) advanced 1.3%, Nvidia Corp. (NVDA) rallied 3.5% and Applied Materials Inc. (AMAT) gained 2.8%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 03, 2018 16:41 ET (21:41 GMT)
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