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

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© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 15, 2023. REUTERS/Brendan McDermid/File Photo

(Reuters) – The benchmark and the Nasdaq opened higher on Thursday, 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%, at 4,760.10, while the gained 138.90 points, or 0.93%, to 14,994.52 at the opening bell.

The fell 109.14 points, or 0.29%, at the open to 37,157.81.

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