Indexes Drift Lower Ahead Of Inflation Report: AMD, CAKE, URBN In Focus

AMD's reversal and breakouts in Cheesecake Factory signal improving market breadth even as chip stocks and small caps lag.

• Indexes mixed but orderly: Nasdaq fell under 0.2%, S&P 500 closed flat near highs, Dow dropped 0.4%, and Russell 2000 (IWM) closed below its 200-day line for the first time, down 0.3%.
• AMD reverses higher: After four down days undercutting its 21-day line, AMD reclaimed the prior $55.84 buy point, closed near session highs up nearly 2%, and was added to IBD's Leaderboard.

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