Investing.com - The back-and-forth action between chipmakers Intel (NASDAQ:INTC) and Advanced Micro Devices (NASDAQ:AMD) continued with bulls backing Intel, at least for today.
Intel stock rose about 4.3% and AMD was down about 4% at 12:55 PM ET (16:55 GMT).
The chip stocks have been active of late on analysts’ commentary.
But even if investors like AMD’s story much better than Intel, there is certainly a case that trimming a stake in AMD is pretty prudent and that Intel has a little room to run.
AMD is up more than 175% year to date, while Intel is up a little more than 4%.
Meanwhile, financial stocks were the laggards in the market today. Italy’s continued defiant stance against EU officials on its budget pushed money into U.S. Treasuries, pressuring the 10-year yield closer to 3.05%.
The S&P Financial Sector index dropped about 0.2%.
Among the hardest hit components were Wall Street names S&P Global (NYSE:SPGI), off 1.4%, Nasdaq (NASDAQ:NDAQ), down about 1.3%, and Moody's (NYSE:MCO), which lost 1.6%.