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S&P 500, Nasdaq open higher as chip stocks gain ahead of Nvidia results

BY Reuters | TREASURY | 09:35 AM EDT

May 20 (Reuters) - The S&P 500 and the Nasdaq opened higher on Wednesday, lifted by a rebound in chip stocks ahead of Nvidia's (NVDA) quarterly earnings, which investors view as a crucial test of AI demand as they weighed concerns over elevated Treasury yields.

The Dow Jones Industrial Average fell 15.0 points, or 0.03%, at the open to 49348.83. The S&P 500 rose 15.6 points, or 0.21%, to 7369.19?, while the Nasdaq Composite rose 120.8 points, or 0.47%, to 25991.509.

(Reporting by Ragini Mathur in Bengaluru; Editing by Maju Samuel)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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