Tech rises for second day in a row as chip stocks gain: AlphaCheck

Good morning. Stocks opened higher for a second day in a row on Tuesday, with semiconductor stocks rising ahead of a key Fed meeting and Big Tech earnings this week.

The Tech (XLK ) sector advanced, extending gains after Anthropic's IPO filing lifted it in the previous session. Shares of chip giants Nvidia ( NVDA ), AMD ( AMD ), and Broadcom ( AVGO ) all rose.

Nvidia announced it will invest $3 billion in Meta ( META ) and collaborate with the social media giant on its Muse business, a day after the company unveiled plans to raise up to $95 billion to fund its AI infrastructure expansion.

Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data .

Investors will get another pulse on the AI trade this Wednesday when Alphabet ( GOOG ) and Microsoft ( MSFT ) report their third quarter results.

Brent crude oil futures ( BZ=F ) eased to trade below $110 per barrel while WTI ( CL=F ) also declined to around $100 as Fed policymakers initiated a two-day policy rate meeting.

Most market participants expect policymakers to hold rates steady this month.

Here are some other notable stocks that Yahoo Finance readers are viewing this morning: SoFi Technologies ( SOFI ), UPS ( UPS ), and Corning Incorporated ( GLW ).