AMD And Amazon Gain As The QQQ Soared Today. Here's Why.

April 26, 2021 4:23 pm
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AMD And Amazon Gain As The QQQ Soared Today. Here's Why.

U.S. indices were trading higher Monday amid reopening optimism after Dr. Anthony Fauci said on CNBC he expects the U.S. to reach a turning point in the coronavirus pandemic within a few weeks if the current pace of vaccinations holds.

  • The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) finished higher by 0.65% at $341.63.
  • The SPDR S&P 500 ETF Trust (NASDAQ:SPY) closed higher by 0.21% at $417.61.
  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished lower by 0.16% at $339.87. 

Here are the day's winners and losers from the Nasdaq, according to data from Benzinga Pro.

Leaders for the QQQ were from names in semiconductors and tech: Advanced Micro Devices, Inc. (NASDAQ:AMD), QUALCOMM, Inc. (NASDAQ:QCOM) and Amazon.com, Inc. (NASDAQ:AMZN).

Shares of several semiconductor companies were trading higher on continued momentum amid reports of price hikes from chipmakers led by the recent chip shortage. Strength is also potentially in anticipation of several companies in the sector reporting earnings this week.

Rumors of a stock split in 2021 for Amazon sent shares higher by 2.04%.

Starbucks Corporation (NYSE:SBUX), Baidu Inc (NASDAQ:BIDU) and Monster Beverage Corp (NASDAQ:MNST) were among the top losers the QQQ.

Elsewhere On The Street

NIO Inc. (NYSE:NIO) shares have taken off after bouncing off a triple bottom formation last week. A series of company-specific catalysts are lined up in the weeks ahead. The electric vehicle stock has attracted institutional as well as retail investors… Read More

Bitcoin (CRYPTO:BTC) is a risky investment, co-founder of Palantir Technologies Inc (NYSE: PLTR) Joe Lonsdale said Monday on CNBC's "TechCheck."… Read More

Both Dogecoin (DOGE) and SafeMoon (SAFEMOON) have hit their all-time highs in the recent past but is the latter outpacing the Shiba Inu-themed cryptocurrency in terms of gains?… Read More

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