Midday Report: AMD, Boeing Earnings Drive Gains; Stocks Hit Intraday Records

Stocks held higher after indexes hit intraday records this morning.
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Stocks held higher after indexes hit intraday records this morning. Better-than-expected earnings from the likes of Boeing Co. (BA) - Get Report , AT&T Inc. (T) - Get Report , and Advanced Micro Devices Inc. (AMD) - Get Report drove the bulk of gains. Just over one-third of S&P 500 companies have reported so far. Semiconductor company AMD beat earnings estimates as cryptocurrency use increased demand for its graphic chips. Computing and graphics revenue surged 51%. New home sales rose at a slightly slower pace than anticipated in June. The Census Bureau reported a 0.8% increase in sales of new single-family houses last month. Crude oil recovered a level above $48 a barrel after another decline in weekly domestic inventories. U.S. crude stockpiles have dropped for four weeks in a row.