The Nasdaq composite outperformed in afternoon trading Tuesday, helped by a rally in semiconductor stocks. In other stock market news today, Netflix (NFLX) stock was in rally mode ahead of its earnings report after the close, helped by an upgrade from Deutsche Bank.
Netflix was a top gainer in the Nasdaq 100, along with Western Digital (WDC) and Advanced Micro Devices (AMD). Western Digital was up nearly 5%, helped by a Deutsche Bank upgrade to buy. Advanced Micro rallied 2.5% after the company unveiled its new Ryzen processor and said the processor will be in the new Sony PlayStation starting in Q3 2020.
In afternoon trading, the Nasdaq composite was up 0.4%, helped by a 1.5% gain in the Philadelphia Semiconductor index. The Dow Jones industrials and S&P 500 edged higher by 0.1% to 0.2%.
Stock Market News: Top Gainers
In other stock market news, Autohome (ATHM) added 1.5% to 108.31. It’s in position for a breakout try over a 111.70 handle buy point. Autohome was featured in Monday’s IBD 50 Stocks To Watch column. In related news, the Shanghai Composite soared 2.4% overnight.
Group peer Workday (WDAY) picked up nearly 3% to 198.09. It’s been trading tightly just below the 200 level as it works on a flat base with a 200.10 buy point.
The 10-year Treasury yield was up 3 basis points to 2.59%. Separately, U.S. crude oil futures picked up 0.4% to $63.67 a barrel.
Please follow Ken Shreve on Twitter @IBD_KShreve for stock market updates and more.
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