S&P 500, Nasdaq open higher on strong results from Nvidia, retailers

view original post

FILE PHOTO: People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermid/File Photo

(Reuters) – The S&P 500 and the Nasdaq indexes opened higher on Thursday as chipmaker Nvidia rallied on robust third-quarter results, while a fresh batch of positive retail earnings indicated strength in consumer spending against the backdrop of rising inflation.

The Dow Jones Industrial Average fell 29.36 points, or 0.08%, at the open to 35,901.69. The S&P 500 opened higher by 12.05 points, or 0.26%, at 4,700.72, while the Nasdaq Composite gained 51.82 points, or 0.33%, to 15,973.40 at the opening bell.

Reporting by Devik Jain in Bengaluru; Editing by Maju Samuel