S&P 500 opens up 0.48% and Nasdaq gains 0.57% as chip stocks rebound; Micron rises about 4%

U.S. stocks opened higher early Wednesday as chipmakers rebounded sharply, with Micron Technology up about 4%, SanDisk nearly 3%, and the Roundhill Memory ETF (DRAM) up 3% after falling 13%–14% in the prior session. The bounce came ahead of Micron’s earnings announcement and lifted both the Nasdaq and the S&P 500. Oil prices slid, with Brent down 3% to $74 a barrel and WTI down 3% to $71, though the move in crude was not cited as the driver of the chip rebound.