S&P 500 and Nasdaq open higher on SK Hynix results and Fed focus
The S&P 500 and Nasdaq opened higher on Wednesday, boosted by chip stocks after SK Hynix's strong earnings. Investors await corporate earnings and the Federal Reserve's rate decision.
The S&P 500 and the Nasdaq opened higher on Wednesday as memory-chip firms climbed after SK Hynix's bumper results, while investors looked to upcoming key corporate earnings as the next test of AI trade, alongside the Federal Reserve's rate decision.
The Dow Jones Industrial Average fell 42.1 points, or 0.08 per cent, to 52,335.43 at the open. The S&P 500 rose 13.0 points, or 0.17 per cent, to 7,735.56, while the Nasdaq Composite rose 63.8 points, or 0.24 per cent, to 26,541.607.
SK Hynix's strong results lifted sentiment in the chip sector, with investors focusing on the broader implications for the artificial intelligence trade. The Federal Reserve's upcoming rate decision also remains a key focus for markets.