Nasdaq opens higher as chips pare losses, rate-hike fears linger
The US jobs report raises interest-rate hike concerns
On Friday, the Nasdaq opened higher, with chip stocks recovering from heavy losses following a sharp sell-off caused by concerns over potential tougher AI regulation if a Democratic-led Congress took office. Simultaneously, the jobs report raised concerns about future interest rate hikes. The Dow Jones Industrial Average fell by 486.37 points, or 0.94%, to 51,036.69, while the S&P 500 rose by 19.44 points, or 0.26%, to 7,373.17.
The Nasdaq Composite gained 299.54 points, or 1.23%, to reach 24,614.53 at the opening bell. Analysts have lowered DBS's target price due to lower 2027 earnings projections, but still see it as a potential buying opportunity after the share price decline.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.