Wall Street Today | AMD soars after server-chip demand helps brighten forecast
U.S. equity futures rise, Asia stocks set to climb: markets wrap
U.S. futures pushed higher, with contracts on the technology-heavy Nasdaq 100 outperforming in the wake of strong Alphabet Inc. and Advanced Micro Devices Inc. earnings. Economically sensitive sectors like energy and banks on Tuesday helped U.S. stocks to their best three-day rally since 2020.
AMD soars after server-chip demand helps brighten forecast
$Advanced Micro Devices(AMD.US$ jumped as much as 10% in late trading after providing a surprisingly strong forecast for the current quarter, fueled by market-share gains and demand for server chips.
GM sees 2022 profit little changed even as chip crisis eases
$General Motors(GM.US$ is seeing signs of an easing in the semiconductor shortage that curbed vehicle output and dented its market share last year, but cautioned profit for 2022 may be little changed.
Google shakes off omicron with shopping ads and cloud revenue
Google parent $Alphabet-A(GOOGL.US$ posted fourth-quarter sales and profit that topped analysts’ projections, showing the resilience of its advertising business in the face of major economic upheaval as the pandemic persists. The shares soared in late trading.
Metaverse real estate sales top $500 million, and are projected to double this year
Sales of real estate in the metaverse topped $500 million last year and could double this year, according to investors and analytics firms.
Real estate sales on the four major metaverse platforms reached $501 million in 2021, according to MetaMetric Solutions. Sales in January topped $85 million, the metaverse data provider said. It projects that at this pace sales could reach nearly $1 billion in 2022.
Ford reportedly plans to increase EV spending by up to $20 billion
$Ford Motor(F.US$ is reportedly planning to accelerate its deployment of electric vehicles and could increase investments in EVs by up to $20 billion, Bloomberg News reported Tuesday.
U.S. Job openings, quits remained elevated at end of last year
The U.S. labor market remained tight at the end of last year with job openings and worker turnover hovering near the highest levels on record, though there are signs demand cooled as disrupted the economy in January.
Pfizer asks FDA to authorize its covid-19 vaccine for young children
$Pfizer(PFE.US$ and partner $BioNTech(BNTX.US$ asked U.S. health regulators to authorize use of their Covid-19 vaccine in children under 5 years, the last age group without access to the shots.
The application, which the companies said they began submitting to the Food and Drug Administration on Tuesday, could lead to the shots becoming available in March for children ages 6 months to under 5 years.
Source: Bloomberg, WSJ, CNBC
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