S&P 500, Nasdaq open lower as caution builds ahead of Big Tech earnings

The S&P 500 fell 11.7 points (0.16%) to 7,497.47 and the Nasdaq Composite dropped 143.5 points (0.56%) to 25,693.719 at the open on Wednesday, pressured by weakness in chip stocks as investors remained cautious ahead of Big Tech earnings that could determine the future of Wall Street's AI-driven rally, according to Reuters.

S&P 500, Nasdaq open lower as caution builds ahead of Big Tech earnings NEW YORK The S&P 500 and the Nasdaq opened lower on Wednesday Jul 22 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 per cent, at the open to 52,287.14. The S&P 500 fell 11.7 points, or 0.16 per cent, at the open to 7,497.47, while the Nasdaq Composite dropped 143.5 points, or 0.56 per cent, to 25,693.719 at the opening bell. REUTERS Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Share with us your feedback on BT's products and services TRENDING NOW /pulse?ref=trending-now Lermit Road bungalow owned by family of Dennis Lee’s son on the market at S$98.8 million Cabinet reshuffle: Shanmugam named Senior Minister; Jeffrey Siow, David Neo, Sim Ann promoted to ministers What makes a good job? Feeling that you matter CAAS investing S$4 billion to upgrade air navigation services ahead of T5 opening