Wall Street Opens Higher With Chips, Megacaps in Spotlight

Wall Street Opens Higher With Chips, Megacaps in Spotlight
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City on Jan. 9, 2024. Brendan McDermid/Reuters
Reuters
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Wall Street’s main indexes opened higher on Friday as chip and megacap stocks continued their rise, while investors kept a close watch on ongoing corporate earnings and any hints about the timing of rate cuts.

The Dow Jones Industrial Average rose 103.89 points, or 0.28 percent at the open, to 37,572.50. The S&P 500 opened higher by 15.34 points, or 0.32 percent, at 4,796.28, while the Nasdaq Composite gained 66.73 points, or 0.44 percent, to 15,122.38 at the opening bell.