Market Updates
Movers: GameStop, Helen of Troy, Levi Strauss, PriceSmart, Wd-40
Barry Adams
07 Jul, 2022
New York City
U.S. benchmark indexes advanced for the fourth day in a row and tech and oil stocks led the gainers.
The S&P 500 index increased 1.2% to 3,890.29 and the Nasdaq Composite index added 1.8% to 11,599.67.
Futures of crude oil jumped 5.8% to $104.25 and natural gas increased 12.9% to $6.23 a unit. Energy prices rebounded after a 4-day decline.
Chipmakers advanced after South Korea based Samsung reported its strongest June quarter in four years.
Intel increased 2.7% to $37.99, Advanced Micro Devices added 4.5% to $78.74, and Qualcomm, Inc jumped 4.5% to $132.86.
The yield on 10-year Treasury notes increased to 3.008% after the latest Fed minutes of meeting indicated policymakers' commitment in fighting inflation.
GameStop Corp gained 12.1% to $133.55 after the video game retailer announced a 4-for-1 stock split.
Company stockholders of record at the close of business on July 18, 2022 will receive a dividend of three additional shares of the Company
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