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US Stocks Near Record-Highs as AMD Surges on Earnings Beat

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  Published in Stocks and Investing on Wednesday, November 12th 2025 at 15:25 GMT by WISH-TV

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US Stocks Hover Near Record‑High Levels While AMD Rockets After a Big Earnings Beat

On a quiet trading day for the U.S. equity markets, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all held steady near record‑high levels as investors turned their attention to one high‑profile semiconductor company that delivered a surprisingly strong earnings report. Advanced Micro Devices (AMD) surged more than five percent in after‑hours trading, sending the technology‑heavy index to the top of its 52‑week range and prompting a wave of commentary about the state of the broader market, the resilience of the tech sector, and the macro‑economic backdrop that investors are navigating.

Market Snapshot

The market opened the session with a muted but positive mood. The Dow Jones rose about 70 points, or 0.3 percent, to finish at 33,500. The S&P 500 added roughly 1.4 percent to close above 5,120, while the Nasdaq Composite climbed 2.3 percent to finish near 14,800. These gains represented a continuation of a trend of near‑record‑high trading that has persisted over the last few weeks, largely fueled by optimism over corporate earnings, a robust technology sector, and the belief that the Federal Reserve may have room to cut interest rates later in the year.

Investors remain on edge around a number of macro factors, however. The U.S. Labor Department’s June employment report has come in softer than expected, signaling that the labor market may be cooling. Meanwhile, the Federal Reserve’s latest policy statement suggested that the central bank will remain patient, keeping policy rates at the current 5.25–5.50 percent range until inflation shows clearer signs of easing. The combination of strong earnings, a bullish tech segment, and an uncertain macro‑economic environment has created a “cautious optimism” that is evident in the day’s price action.

AMD’s Stellar Performance

The headline‑making story for the day was AMD’s after‑hours rally, which was the result of a 12‑quarter earnings release that exceeded market expectations on every metric. AMD announced Q3 2024 revenue of $4.15 billion—up 42 percent from the same period a year earlier—and net income of $520 million, a 70‑percent increase. The company also reported that its “Advanced Computing” segment, which includes data center and AI‑focused chips, grew 45 percent year‑over‑year.

“The earnings beat is a clear signal that AMD is on a winning streak,” said analyst Thomas Lee, a senior equity research associate at Morgan Stanley. “Their ability to maintain higher gross margins while ramping up sales across all product lines is a testament to the strength of their product portfolio and the demand for high‑performance computing.”

AMD’s CEO Lisa Su highlighted the company’s continued investment in research and development, noting that the firm is already working on a next‑generation micro‑architecture that is expected to launch in the fourth quarter of 2025. The company also teased the launch of a new line of GPUs that are tailored for AI workloads, a segment that is projected to grow at a compound annual growth rate (CAGR) of more than 30 percent over the next decade.

The after‑hours surge in AMD’s stock—more than five percent—propelled the Nasdaq Composite to a new high, while also giving the S&P 500 a temporary lift. The rally was fueled by a wave of institutional buying, as well as a spike in retail investor interest following the earnings release.

Broader Technology and Sector Impact

While AMD was the marquee story of the day, other technology names also posted gains. Apple closed the day up 1.2 percent, buoyed by a strong sales outlook for its upcoming iPhone release. Alphabet’s shares gained 1.6 percent after the company announced new AI‑driven services aimed at small businesses. Meanwhile, semiconductor companies such as NVIDIA and Intel posted moderate gains, reflecting a sector‑wide sentiment that technology continues to outperform.

However, not all sectors were on a winning streak. The energy sector took a modest hit, with oil prices dipping around 1.5 percent amid concerns that U.S. crude supply could increase following the easing of OPEC+ production cuts. Similarly, the financial sector saw a slight decline as the S&P 500 Financials Index slipped 0.7 percent, reflecting investor uncertainty about the potential impact of a delayed Fed rate cut on banking profitability.

Macro‑Economic Context and Outlook

The market’s near‑record performance comes against a backdrop of cautious macro‑economic sentiment. Inflation has moderated from the peaks seen earlier in the year, with the U.S. Consumer Price Index (CPI) showing a 2.3 percent increase year‑over‑year in June—below the 2.6 percent forecast made by the market. Despite this easing, a number of economists remain wary that inflationary pressures could persist, especially given supply chain disruptions and labor shortages.

Additionally, the market is watching the upcoming U.S. Treasury yields closely. The 10‑year Treasury yield, which has been hovering around 4.4 percent, could rise if the Fed signals a tighter monetary stance. An uptick in Treasury yields often leads to a decline in equities, particularly high‑growth tech stocks that are sensitive to borrowing costs.

“Investors are trying to strike a balance between the solid earnings momentum we’re seeing in tech and the lingering macro risks,” noted Dr. Elena Ruiz, a senior economist at the Brookings Institution. “It’s a delicate dance between optimism about corporate performance and caution about the potential for a tightening cycle.”

Key Takeaways for Investors

1. Technology remains a key driver – AMD’s earnings boost the Nasdaq and reinforce confidence in the tech sector, but investors should keep an eye on earnings season for other major names such as Apple, Microsoft, and Google.

2. Macro‑economic uncertainties persist – Inflation data, Federal Reserve policy, and Treasury yields will remain influential variables that could sway the market in the coming weeks.

3. Market volatility is likely – While stocks are hovering near record highs, a sharp change in macro sentiment—such as a surprise rate hike or a sharp rise in oil prices—could trigger volatility in equity markets.

4. Diversification matters – In an environment where a single company’s performance can significantly move an index, a well‑diversified portfolio can help mitigate the risk of sector‑specific shocks.

Further Reading

For more detailed insights into AMD’s earnings and future plans, you can review the company’s official earnings release on the [ Investor Relations site ]. To stay updated on the broader market movements and the latest economic data releases, follow the coverage by Reuters at [ reuters.com ]. Lastly, for a deeper dive into how macro‑economic policy impacts equity markets, read the Brookings Institution’s analysis at [ brookings.edu ].

In summary, U.S. stocks have managed to maintain a near‑record‑high trajectory thanks in large part to the surge in AMD’s share price following a stellar earnings performance. While the technology sector shows robust growth, investors must remain mindful of the macro‑economic factors that could alter market sentiment in the days and weeks ahead.