US: S&P 500, Nasdaq open higher on chips, megacaps boost

THE benchmark S&P 500 and the Nasdaq opened higher on Thursday (Jan 18), boosted by gains in chips and megacap stocks, while investors watched out for clues on the timing of the Fed’s rate cuts and the economic outlook, as more earnings roll in.

The S&P 500 opened higher by 20.89 points, or 0.44 per cent, at 4,760.10, while the Nasdaq Composite gained 138.90 points, or 0.93 per cent, to 14,994.52 at the opening bell.

The Dow Jones Industrial Average fell 109.14 points, or 0.29 per cent, at the open to 37,157.81. REUTERS