US open: Dow edges higher, Nasdaq slips as chipmakers weigh

(Sharecast News) - Wall Street trading got off to a mixed start on Friday as major indices looked set to close out the week in negative territory.

As of 1445 BST, the Dow Jones Industrial Average was up 0.47% at 52,424.48, while the S&P 500 lost 0.01% to 7,743.33 and the Nasdaq Composite came out of the gate 0.56% weaker at 26,563.26.

The Dow opened 246.79 points higher on Friday, extending solid gains recorded in the previous session as stocks erased early losses to finish in positive territory after a sharp drop in Treasury yields.

Tesla shares were higher early on Friday, rising 1.81% after unveiling its nextgeneration roadster, though the model was not expected to enter production until 2028. Elsewhere, chip stocks remained under pressure, with Micron, AMD and Sandisk all weaker as the sector continues to struggle amid renewed jittersover competition from China

In terms of earnings, Travelers slipped early trade after posting its thirdquarter numbers, despite earnings coming in comfortably ahead of expectations. The insurer delivered adjusted earnings per share of $9.18, well above the $7.25 consensus, while revenues rose to $12.41bn, ahead of forecasts for $11.31bn and broadly flat yearonyear. Net income edged up to $1.917bn, or $9.04 per diluted share, from $1.888bn a year earlier. Core income increased to $1.947bn, driven by stronger prioryear reserve releases and higher investment income, partly offset by $538m in catastrophe losses, up from $402m in the prioryear quarter.

Comments from Federal Reserve chairman Kevin Warsh were also in focus at the open after the Fed boss spoke at an IMF event in Bangkok overnight and, while he offered no guidance on whether rates might rise before yearend, traders interpreted the lack of comment as a sign the central bank will hold policy steady later this month. The CME FedWatch tool now implies an 85% probability the central bank keeps its benchmark rate unchanged at its October meeting.

On the macro front, US import prices rose 1.1% in September, accelerating from a 0.5% gain in August, according to the Bureau of Labor Statistics. The increase was driven by higher fuel and nonfuel costs, leaving import prices up 8.1% over the year - the strongest 12month rise since mid2022. Fuel import prices jumped 4.8% on the month as petroleum and natural gas costs climbed, with natural gas up 96.5% yearonyear, the largest annual increase since June 2022. Nonfuel import prices advanced 0.7%, extending a run of monthly increases stretching back to August 2025. Capital goods, industrial supplies, consumer goods and automotive products all contributed to the rise. Over the year, nonfuel imports were up 6%, the fastest pace since April 2022, supported by broadbased gains across capital goods, industrial materials, foods and automotive categories.

Meanwhile, export prices increased 2.2% in September after a 1.2% rise in August, with both agricultural and nonagricultural categories strengthening. Export prices were up 11.6% over the year, the largest annual increase since 2022. Agricultural export prices rose 2.6%, driven by higher soybean, corn and wheat prices. Nonagricultural export prices gained 2.1%, supported by industrial supplies, capital goods and consumer goods. Industrial supply prices rose 4%, while finished goods also firmed.

On another note, US industrial capacity utilisation rose to 76.9% in September, up from a revised 76.4% in August and ahead of forecasts, according to the Federal Reserve, but still below the longrun average of 79.4%. Utilities saw the biggest move, with the operating rate jumping 2.3 percentage points to 73.8%, though it remained well under its historical norm. Industrial production also strengthened, rising 2.2% yearonyear after a 1.6% gain in August, with utilities output up 8.7%, mining increasing 2.8% and manufacturing advancing 1.1%.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Nike Inc. (NKE) $37.14 5.21%

Salesforce.Com Inc. (CRM) $246.74 4.57%

Home Depot Inc. (HD) $308.24 4.31%

Amgen Inc. (AMGN) $434.03 3.86%

Unitedhealth Group Inc. (UNH) $406.67 2.79%

International Business Machines Corporation (CDI) (IBM) $234.12 2.74%

American Express Co. (AXP) $313.87 2.25%

Boeing Co. (BA) $188.73 2.20%

Visa Inc. (V) $399.75 2.13%

McDonald's Corp. (MCD) $242.50 1.76%

Dow Jones - Fallers

Intel Corp. (INTC) $95.37 -5.03%

Cisco Systems Inc. (CSCO) $109.85 -4.59%

Caterpillar Inc. (CAT) $735.64 -1.78%

Merck & Co. Inc. (MRK) $145.19 -1.48%

Chevron Corp. (CVX) $219.32 -1.23%

Apple Inc. (AAPL) $342.00 -1.02%

Microsoft Corp. (MSFT) $539.44 -0.89%

Johnson & Johnson (JNJ) $253.28 -0.25%

Verizon Communications Inc. (VZ) $44.40 -0.05%

S&P 500 - Risers

Coty Inc. Class A (COTY) $3.24 8.50%

Bath & Body Works, Inc. (BBWI) $20.45 7.86%

Intuit Inc. (INTU) $332.34 7.84%

Dxc Technology Company (DXC) $13.79 7.82%

Equifax Inc. (EFX) $161.74 7.25%

TripAdvisor Inc. (TRIP) $9.39 7.13%

International Paper Co. (IP) $34.25 6.90%

Macy's Inc. (M) $24.60 6.79%

Expedia Group Inc. (EXPE) $291.87 6.71%

Dollar Tree Inc (DLTR) $124.59 6.64%

S&P 500 - Fallers

FMC Corp. (FMC) $5.42 -30.53%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Hewlett Packard Enterprise (HPE) $58.63 -7.10%

Seagate Technology Plc (STX) $677.17 -7.02%

NetApp Inc. (NTAP) $214.70 -7.00%

Applied Materials Inc. (AMAT) $421.92 -6.01%

Akamai Technologies Inc. (AKAM) $92.32 -5.82%

Lam Research Corp. (LRCX) $271.44 -5.50%

Western Digital Corp. (WDC) $356.45 -5.32%

Synopsys Inc. (SNPS) $468.11 -5.06%

Nasdaq 100 - Risers

Intuit Inc. (INTU) $332.34 7.84%

Expedia Group Inc. (EXPE) $291.87 6.71%

Dollar Tree Inc (DLTR) $124.59 6.64%

Autodesk Inc. (ADSK) $245.16 6.10%

Gilead Sciences Inc. (GILD) $157.32 5.78%

Cognizant Technology Solutions Corp. (CTSH) $66.54 5.74%

Adobe Systems Inc. (ADBE) $254.60 5.56%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $609.24 5.40%

Verisk Analytics Inc. (VRSK) $187.33 5.29%

Charter Communications Inc. (CHTR) $109.99 4.95%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Seagate Technology Plc (STX) $677.17 -7.02%

Liberty Global plc Series C (LBTYK) $7.96 -6.30%

Applied Materials Inc. (AMAT) $421.92 -6.01%

Liberty Global plc Series A (LBTYA) $8.05 -5.58%

Lam Research Corp. (LRCX) $271.44 -5.50%

Western Digital Corp. (WDC) $356.45 -5.32%

Synopsys Inc. (SNPS) $468.11 -5.06%

Intel Corp. (INTC) $93.49 -5.03%

Cisco Systems Inc. (CSCO) $109.85 -4.59%