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Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are trading higher by 2.64% to $74.36 during Tuesday's session. Traders and investors are watching for the company's fourth-quarter earnings announcement, confirmed for after the market close.
Earnings season is in full swing, with 35% of companies in the S&P 500 reporting this week.
Company performance through the fourth quarter of 2022 will lend a clearer view into the general state of the U.S. economy after an almost full year of Fed interest rate hikes.
The S&P 500 ended slightly higher on Friday ahead of this week's Fed monetary policy meeting.
All three major stock indices closed the session on a positive note, with the Nasdaq notching the biggest surge.
The state-run China Academy of Engineering Physics (CAEP), one of China’s top nuclear weapons research institutes, has purchased U.S. computer chips despite its placement on a U.S. export blacklist in 1997.