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Advanced Micro Devices, Inc. (AMD) leapt $1.99 to $29.57 on 107 million shares Tuesday. On Monday the chipmaker announced a deal to license its custom graphics intellectual property (IP) to Samsung for use in mobile devices. The stock has broken out of a 2-month sideways channel, and any move across the $29.75 range could get this into the mid-$30's.
Barchart calculates a custom index (the Barchart Market Momentum Index) which is used as an indicator of overall change in the markets. The index reflects the movement of more established stocks: those with SEC filings, with 6 months of trading activity, and with price above $2.00. A high value means the market is moving up, where as a negative value implies the market is down today.