US open: Stocks higher, Nasdaq hits another fresh record

Wall Street stocks traded higher early on Friday, extending solid gains recorded in the previous session.

As of 1530 GMT, the Dow Jones Industrial Average was 0.48% higher at 39,258.36, while the S&P 500 advanced 0.32% to 5,103.26 and the Nasdaq came out the gate 0.04% stronger at 16,047.30.

The Dow opened 189.25 points higher on Friday, while the Nasdaq Composite hit a fresh record high in early trading after registering its best day in over 12 months on the back of solid earnings from chipmaker Nvidia.

In focus early on Friday, comments from Federal Reserve governor Christopher Waller from after the close Thursday underlined the central bank's stance that policymakers will approach their next moves on monetary policy with caution. Waller stated that hot January inflation prints increased the likelihood that cuts may very well be postponed, stating that he would need to see "at least another couple months" of inflation data before deciding how best to move forward.

Traders have now seemingly pared expectations for an aggressive interest rate-cutting programme in 2024, now pricing in moves that fall in line with prior indications from Federal Reserve officials.

In the corporate space, fintech business Block shares were higher in early trading after revealing quarterly revenues had come in ahead of expectations, while used car retailer Carvana surged on the back of an announcement that retail units were set to grow in 2024.

No major data points were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Amgen Inc. (AMGN) $289.30 1.44%
Goldman Sachs Group Inc. (GS) $395.74 1.35%
Nike Inc. (NKE) $106.38 1.24%
Dow Chemical Co. (DOW) $56.53 0.95%
Walgreens Boots Alliance, Inc. (WBA) $21.77 0.93%
American Express Co. (AXP) $215.90 0.89%
JP Morgan Chase & Co. (JPM) $184.64 0.86%
Walmart Inc. (WMT) $176.87 0.83%
International Business Machines Corporation (CDI) (IBM) $185.60 0.75%
Johnson & Johnson (JNJ) $161.60 0.72%

Dow Jones - Fallers

Boeing Co. (BA) $199.08 -1.20%
Chevron Corp. (CVX) $153.94 -0.96%
Walt Disney Co. (DIS) $106.64 -0.93%
Intel Corp. (INTC) $42.68 -0.70%
Apple Inc. (AAPL) $183.69 -0.37%
Dowdupont Inc. (DWDP) $0.00 0.00%
3M Co. (MMM) $92.38 0.16%
Salesforce.Com Inc. (CRM) $294.40 0.26%
Microsoft Corp. (MSFT) $412.86 0.29%
Caterpillar Inc. (CAT) $323.20 0.34%

S&P 500 - Risers

Foot Locker Inc. (FL) $35.49 4.08%
Henry Schein Inc. (HSIC) $80.15 3.98%
Dominion Energy Inc. (D) $47.27 3.66%
Edison International (EIX) $69.22 2.67%
Iron Mountain Inc (New) (IRM) $74.00 2.64%
Hanesbrands Inc. (HBI) $4.75 2.37%
Nvidia Corp. (NVDA) $802.30 2.15%
Ameren Corp. (AEE) $72.32 2.13%
Adobe Systems Inc. (ADBE) $548.78 2.08%
PulteGroup Inc. (PHM) $106.67 1.90%

S&P 500 - Fallers

Booking Holdings Inc. (BKNG) $3,550.01 -9.02%
Apartment Investment & Management Co. (AIV) $7.28 -4.77%
Eog Resources Inc. (EOG) $111.42 -4.28%
Helmerich & Payne Inc. (HP) $37.65 -2.89%
Expedia Group Inc. (EXPE) $135.38 -2.67%
Advanced Micro Devices Inc. (AMD) $177.59 -2.35%
National Oilwell Varco Inc. (NOV) $17.03 -2.18%
Mosaic Company (MOS) $31.55 -2.09%
Macerich Co (MAC) $16.86 -1.72%
Fluor Corp. (FLR) $35.11 -1.71%

Nasdaq 100 - Risers

Trip.com Group Limited (TCOM) $46.94 5.08%
Henry Schein Inc. (HSIC) $80.15 3.98%
Biomarin Pharmaceutical Inc. (BMRN) $92.36 2.66%
Nvidia Corp. (NVDA) $802.30 2.15%
Adobe Systems Inc. (ADBE) $548.78 2.08%
Check Point Software Technologies Ltd. (CHKP) $159.37 1.90%
Verisk Analytics Inc. (VRSK) $244.52 1.88%
Gilead Sciences Inc. (GILD) $74.14 1.86%
Regeneron Pharmaceuticals Inc. (REGN) $981.59 1.73%
Ross Stores Inc. (ROST) $149.30 1.63%

Nasdaq 100 - Fallers

Mercadolibre Inc. (MELI) $1,586.92 -12.71%
Booking Holdings Inc. (BKNG) $3,550.01 -9.02%
Expedia Group Inc. (EXPE) $135.38 -2.67%
Liberty Global plc Series C (LBTYK) $19.17 -1.84%
Vodafone Group Plc ADS (VOD) $8.25 -1.78%
Microchip Technology Inc. (MCHP) $82.50 -1.67%
Tesla Inc (TSLA) $194.22 -1.62%
Liberty Global plc Series A (LBTYA) $18.27 -1.40%
KLA-Tencor Corp. (KLAC) $674.38 -1.37%
Skyworks Solutions Inc. (SWKS) $103.70 -1.17%