S&P, Dow open flat after Ross's trade comment; chips lift Nasdaq

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 22, 2019. REUTERS/Brendan McDermid

(Reuters) – The S&P 500 and the Dow Jones Industrial Average opened flat on Thursday after U.S. Commerce Secretary Wilbur Ross said the United States and China were “miles and miles” from resolving their trade dispute, while a rally in chipmakers boosted the Nasdaq.

The Dow Jones Industrial Average rose 4.34 points, or 0.02 percent, at the open to 24,579.96. The S&P 500 opened higher by 0.14 points, or 0.01 percent, at 2,638.84. The Nasdaq Composite gained 16.49 points, or 0.23 percent, to 7,042.25 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur

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