"AMD's quarter was the one traders were waiting on. The chipmaker hauled in $10.25 billion in first-quarter revenue, a 38% jump from a year ago, with its Data Center division surging 57% to $5.78 billion."
"WTI dropped nearly 9% to around $93 a barrel and Brent shed close to 8% to trade near $101 after Axios reported the U.S. and Iran are closing in on an agreement that would halt nuclear enrichment."
"With the bulls in the driver's seat, the Nasdaq Composite (^IXIC) is looking to build on yesterday's record-setting session while adding to its 9% YTD advance."
Tech futures are poised for a strong open, with the Nasdaq Composite rising 1% following record performances. AMD's shares surged nearly 20% after reporting $10.25 billion in revenue, a 38% increase year-over-year. The semiconductor sector benefits from AMD's success, while oil prices fell significantly due to diplomatic progress between the U.S. and Iran. This decline in crude prices is expected to improve margins for transport companies and retailers. Intel also saw a premarket increase of around 6%, contributing to a positive market outlook.
Read at 24/7 Wall St.
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