Investors were nervous Wednesday morning, as they awaited news that they've been anticipating for a long time. The Federal Reserve's monetary policy meeting will come to an end this afternoon, and when it does, market participants will have a better idea of what the central bank intends to do throughout 2023. The uncertainty had index futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) trading down just 0.1% immediately before the market open.
On the Nasdaq, semiconductor stocks have been in the spotlight lately, and Advanced Micro Devices (NASDAQ: AMD) stock was on the rise early Wednesday after the company reported its latest financial results after the market closed Tuesday afternoon. However, the stock seeing much larger gains on Wednesday morning was Mercury Systems (NASDAQ: MRCY) , which finally started to give some of its more vocal investors what they had wanted to see for a long time. Read on to get the news on both of these advancing stocks.
Shares of Advanced Micro Devices were up 4% in premarket trading Wednesday morning. The semiconductor chip maker posted solid results for the fourth quarter and the full 2022 year, and any discomfort about AMD's outlook failed to show up in the stock price's move.
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AMD Rises, but This Activist Stock Target Is Wednesday's Winner