Nasdaq Leads U.S. Stocks Higher With a 1.56% Gain at the Open

U.S. stocks opened higher Wednesday, and the Nasdaq climbed 1.56% by 9:31 a.m. ET (14:31 UTC), leading the three major indexes as chip shares advanced.

At that time, the S&P 500 was up 0.9% and the Dow Jones Industrial Average had gained 0.2%. All three indexes were higher, with the Nasdaq posting the largest increase among them.

Coreweave shares rose 14.5% after the company posted results that exceeded expectations. Nvidia gained 2.6%, rebounding after two consecutive sessions of losses.

Several chip stocks also advanced. SK Hynix rose 7.6%, Broadcom gained 5.8% and Taiwan Semiconductor Manufacturing Co. climbed 4.3%. Among those three companies, SK Hynix had the largest gain and Taiwan Semiconductor Manufacturing Co. the smallest.