Today’s Market Movers: Intel, AMD, Marvell Shares Rise as Chip Sector Rebounds Tuesday
TLDR
- Chip stocks including Nvidia, Intel, AMD, and Marvell rose Tuesday as the tech sector looked set to rebound
- Nvidia is battling to end a seven-day losing streak ahead of its Wednesday earnings report
- Dick’s Sporting Goods fell over 14% after cutting its full-year earnings forecast
- Bitcoin crossed $80,000 overnight for the first time since May, though crypto-linked stocks were mixed
- Nancy Pelosi disclosed purchases of Intel and Bloom Energy shares and call options, sending both stocks higher
Chip stocks and tech futures climbed early Tuesday, giving investors some relief after a rough stretch for the sector. The rebound came ahead of a busy week, with Nvidia set to report earnings after the close on Wednesday.
Nvidia rose 0.8% in premarket trading as it looked to snap a seven-day losing streak, its longest since September 2022. The stock has been under pressure heading into what many see as a key earnings event for the broader market.
Other chip names saw bigger gains. Intel climbed 3.8%, Marvell rose 3.4%, and Advanced Micro Devices was up 2.6% before the open.
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