Nasdaq up 0.62% (Il Sole 24 Ore Radiocor) - New York, 18 Jul - US shares opened mostly higher amid more earnings and data as tech stocks rebounded from yesterday's rout.

Investors have been selling AI-related stock as expectations rise the Federal Reserve will start cutting interest rates soon, benefitting the whole broader market and not just the big tech names that have driven gains this year.

The CME Group's FedWatch Tool is currently pricing in a chance of 98% the Fed will cut rates at its September meeting following recent encouraging inflation and jobs data.

Today's jobless claims reading came in stronger than expected providing more evidence the labour market is softening.

The earnings season meanwhile marches on with Blackstone and Netflix among companies reporting results.

Shares in Nvidia, Advanced Micro Devices and Super Micro Computer were all higher in premarket trade after TSMC reported earnings and forecasts above expectations.

Beyond Meat was down 9% after a report the meat substitute company was meeting bondholders over possible restructuring of its balance sheet.

Just after the opening bell the Dow Jones was down 141.01 points, or 0.34%, at 41,057.07, the S&P 500 was up 17.38 points, or 0.31%, at 5,605.65 while the Nasdaq was up 123.88 points, or 0.69%, at 18,120.80.

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(RADIOCOR) 18-07-24 15:39:18 (0506) 5 NNNN