 U.S. stock indexes opened solidly higher Wednesday morning as equity markets attempted to rebound from the previous day's losses, as investors drew optimism from chip-maker results. Investors also were hopeful of a cease-fire between the U.S. and China on trade. The Dow Jones Industrial Average rose around 100 points, or 0.4%, at 26,650, the S&P 500 index advanced 0.5% at 2,930, while the technology-heavy Nasdaq Composite Index rose 1% at 7,960, as chip-maker stocks rose on the back of earnings from Micron Technologies late Tuesday that were not as bad as feared. Shares of Micron were up 13% in early Wednesday action, while the broader chip-maker sector was also gaining, as reflected in the PHLX Semiconductor Index and the exchange-traded iShares PHLX Semiconductor ETF up 2.8%. President Trump and Chinese President Xi Jinping are expected to meet at the G-20 in Japan later this week, in a what is seen by analysts as an important moment in the trade dispute between the two nations. Markets got a bounce early as CNBC reported that Treasury Secretary Steven Mnuchin said that a Sino-American trade deal was 90% of complete, but said that a deal isn't certain. On Tuesday, the Dow fell almost 0.7%, or 179 points, while the S&P 500 lost 28 points, or 1%, to 2,917. The Nasdaq gave up 121 points, or 1.5%, to 7,885, extending its losing streak into a third day and booking one its worst days in nearly a month.
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