S&P 500 top movers: AMD gains more than 5%, leads tech shares higher

• S&P 500 posts modest daily losses, stays above 3,200.
• Advanced Micro Devices Inc (AMD) shares gain more than 5%.
• Airline stocks underperform with AAL losing more than 10%.

With the risk rally taking a break, major equity indexes in the US are trading mixed on Tuesday. As of writing, the S&P 500 was down 0.65%, the Dow Jones Industrial Average was losing 0.9% and the tech-heavy Nasdaq Composite was up 0.6%.

S&P 500 top movers

Computer chipmaker Advanced Micro Devices Inc (AMD) is the top gainer on Tuesday with its shares rising 5.47% on the day at $55.85. Earlier in the day, AMD announced that its second-gen AMD EPYC processors will be used by NVIDIA's new DGX A100 high-performance computing system. Additionally, Apple will reportedly introduce an iMac with AMD Navi GPU at this year's Worldwide Developers Conference. 

Among the other notable technology shares, Apple Inc (AAPL), Amazon.com INC (AMZN) and NVIDIA Corp (NVDA) are up 2.95%, 2.92% and 2.4%, respectively.

On the other hand, airline stocks, which registered impressive gains during the risk rally, are underperforming on Tuesday. At the moment, American Airlines Group Inc (AAL) shares are down nearly 11% on the day while the United Airlines Holdings Inc (UAL) stocks are losing 9.4%.