- US stock indices opened higher on Tuesday with Nasdaq leading gains after opening bell
- Dow Jones rose 0.07% to 53,455.01, S&P 500 increased 0.38% to 7,682.14
- Nasdaq Composite surged 0.89% to 26,210.23 driven by chip stock rebound
US stock market indices opened in the green on Tuesday, as investors breathed relief over declining oil prices, and ease in US Treasury yields. A rebound in chip stocks led to a spike in the tech-heavy Nasdaq Composite minutes after the opening bell.
Minutes into the trading session, the Dow Jones Industrial Average was up by 0.07% to 53,455.01, while the S&P 500 saw a 0.38% increase to 7,682.14, the Nasdaq Composite logged the highest surge at 0.89% to 26,210.231.
The US 10-Year Treasury bond yield had slipped by about 4.7% after the opening bell.
The price of oil also saw a decline with Brent crude trading at a 2.76% downturn at $88.04 per barrel at 7:42 p.m. IST.
Shares of Advanced Micro Systems saw a 3.92% or 17.92 point increase to $474.66, while Micron Technology was trading at a 2.28% or 20.80 point rise to $931.23, Nvidia's shares surged 2.36% or 4.92 points to $213.40.
Analysts projected notable growth for the chipmaking sector due to data centre expansions, prevalence of agentic computing workloads as well as CPU coordinating AI acclerators, as per reports.
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The semiconductor sector also displayed strong investor sentiment on a pre-market basis due to Nvidia's upcoming second quarter results for the financial year 2027, which is set to be announced on Aug. 26.
US stock market traders are also on the lookout for the personal consumption expenditure price index reading for the month of July which will be released on Wednesday.
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