NEW YORK (TheStreet) -- Bullish earnings expectations from Intel(INTC), ahead of its results on Tuesday, drove the stocks of leading chipmakers higher.
Intel rose more than 2%. Advanced Micro Devices(AMD) and Texas Instruments(TXN) also posted similar gains. PowerShares Dynamic Semiconductor(PSI), which tracks the Dynamic Semiconductor Intellidex of 30 chipmaker companies, was a prominent leader in Tuesday morning action with a gain of 3.2%. The SPDR S&P Semiconductors(XSD) gained 2%. Banking stocks gained on hopes that the financial regulatory bill will pass in the senate after two more Republican senators said they would back the legislation. The Regional Bank HOLDRS(RKH) gained 2.8%. The ETF has concentrated investments in JP Morgan(JPM) and Wells Fargo(WFC), both of which moved in lockstep on Tuesday to end higher by 3.2%. The United States Oil Fund(USO) surged 2.8%, as oil prices climbed past $77 on Tuesday. Energy sector funds such as SPDR Energy(XLE) also gained after Chevron(CVX) said it would beat earnings estimates, boosting interest in oil stocks. -Reported by Shanthi Venkataraman in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,454.83 | 1,317.82 | 2,837.53 | 17.45 |
Oil *
107.26
|
|
DOWN
74.92 |
DOWN
2.86 |
DOWN
1.85 |
DOWN
0.14 |
10 Yr
1.74%
SPDR Gold
152.68
|
|
-0.60%
|
-0.22%
|
-0.07%
|
-0.80%
|
Data delayed 20 minutes |
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