What's Going On With AMD Shares

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading marginally higher by 0.48% to $115.13 Thursday afternoon. The stock is moving modestly higher despite a lack of company-specific news for the session. Major indexes are higher after June CPI data showed softer-than-expected inflation. Additionally, strong financial results from Delta could be lifting market sentiment ahead of upcoming corporate earnings.

Markets are also reacting after the Producer Price Index (PPI) for final demand recorded a 0.1% month-on-month rise in June, the Bureau of Labor Statistics said Thursday, rebounding from the revised 0.4% drop recorded in May but below the expected 0.2% rise.

What Happened With U.S. CPI Inflation?

U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. The Bureau of Labor Statistics' data reveals a drop in the annual inflation rate from 4% in May to 3% in June, slightly below the average economist forecast of 3.1%.

This marks the twelfth consecutive month of declining inflation and the lowest reading since March 2021...Read More

See Also: Semiconductor Winners And Losers Are Growing Apart

According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.