Nasdaq leads stock benchmarks higher early, boosted by Micron surge
U.S. stock indexes opened solidly higher Wednesday morning as equity markets attempted to rebound from the previous day's losses, as investors drew optimism from chip-maker results. Investors also were hopeful of a cease-fire between the U.S. and China on trade. The Dow Jones Industrial Average DJIA, +0.17% rose around 100 points, or 0.4%, at 26,650, the S&P 500 index SPX, +0.18% advanced 0.5% at 2,930, while the technology-heavy Nasdaq Composite Index COMP, +0.
Shares of Micron were up 13% in early Wednesday action, while the broader chip-maker sector was also gaining, as reflected in the PHLX Semiconductor Index SOX, +3.47% and the exchange-traded iShares PHLX Semiconductor ETF SOXX, +3.41% up 2.8%. President Trump and Chinese President Xi Jinping are expected to meet at the G-20 in Japan later this week, in a what is seen by analysts as an important moment in the trade dispute between the two nations.
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