NEW YORK (
) -- Bullish earnings expectations from
, ahead of its results on Tuesday, drove the stocks of leading chipmakers higher.
Intel rose more than 2%.
Advanced Micro Devices
also posted similar gains.
PowerShares Dynamic Semiconductor
, 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
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
gained 2.8%. The ETF has concentrated investments in
, both of which moved in lockstep on Tuesday to end higher by 3.2%.
United States Oil Fund
surged 2.8%, as oil prices climbed past $77 on Tuesday. Energy sector funds such as
also gained after
said it would beat earnings estimates, boosting interest in oil stocks.
-Reported by Shanthi Venkataraman in New York.
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