July 22 (Reuters) – The S&P 500 and the Nasdaq opened lower on Wednesday pressured by weakness in chip stocks, as investors remained cautious ahead of the first batch of Big Tech earnings that could decide whether Wall Street’s AI-driven rally has more room to run.
The Dow Jones Industrial Average rose 62.5 points, or 0.12%, at the open to 52287.14. The S&P 500 fell 11.7 points, or 0.16%, at the open to 7497.47, while the Nasdaq Composite dropped 143.5 points, or 0.56%, to 25693.719 at the opening bell.
(Reporting by Avinash P in Bengaluru; Editing by Maju Samuel)
