S&P 500, Nasdaq open lower as chip stocks weaken

Key facts

• The S&P 500 and Nasdaq Composite began Thursday's trading session with declines.
• Weakness in chip stocks contributed to the downturn in major indices.
• The Dow Jones Industrial Average opened with gains.

The S&P 500 and Nasdaq Composite indices opened lower on Thursday, primarily due to renewed weakness in chip stocks. Investors were also closely monitoring incoming economic data for insights into the economy's health.

At the opening bell, the Dow Jones Industrial Average showed a gain of 266.2 points, or 0.51%, reaching 52,924.86. In contrast, the S&P 500 fell by 13.6 points, or 0.18%, to 7,558.8. The Nasdaq Composite also experienced a decline, dropping 113.8 points, or 0.43%, to trade at 26,155.405.