US: Chip stocks bolster Nasdaq, S&P 500 before Fed verdict
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THE Nasdaq and the S&P 500 opened sharply higher on Wednesday (Jul 31) after a bullish forecast from AMD boosted struggling chip stocks, while Microsoft faltered among megacaps ahead of an interest-rate decision from the Federal Reserve.
The Dow Jones Industrial Average rose 25.5 points, or 0.06 per cent, at the open to 40,768.88.
The S&P 500 rose 69.2 points, or 1.27 per cent, at the open to 5,505.59, while the Nasdaq Composite rose 351.8 points, or 2.05 per cent, to 17,499.231 at the opening bell. REUTERS
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