The Nasdaq Composite has reached a new high, driven by strong performance in the tech sector.
Microsoft has seen a 1.2% increase over the past three months, but it remains 7.77% below its peak from July 5.
Meta Platforms has surged by 27% in the same timeframe, recently hitting a high on October 7 before experiencing a slight decline of 1.6%. This growth has resulted in the stock doubling in value over the past year.
Advanced Micro Devices (AMD) reported mixed results, beating revenue expectations but matching earnings in its latest quarterly report. Following this announcement, AMD's stock fell by 7% in after-hours trading, despite a recent upward trend. Over the past year, AMD has experienced a remarkable 72% increase.
Eli Lilly is expected to release its earnings results before the market opens. The stock has gained approximately 12% over the past three months and 55% year-to-date.
AbbVie has seen a more modest increase of 4.1% in the last three months, while Biogen has struggled, down 14% over the same period.
The homebuilding sector is facing headwinds as rising yields contribute to a downturn in stock prices. The SPDR S&P Homebuilders ETF (XHB) has dropped 8.6% since reaching a high on October 18.
D.R. Horton has experienced a 7.25% decline in the last week and a 12% drop in October alone. PulteGroup and Lennar have also seen declines in October, while Toll Brothers has seen a 2.2% drop on Tuesday, contributing to a 4.6% decline for the month. KB Home is down 8.45% in October.