From Nasdaq:

Wall Street’s main indexes are set to open higher on Friday, with chip and megacap stocks rising. Semiconductor stocks AMD.O, MRVL.O, NVDA.O, and MCHP.O gained over 1% each after Super Micro Computer raised its profit forecast, driving a 10.1% surge in its shares.

The information technology index .SPLRCT hit a record high, boosted by Tamil Semiconductor Manufacturing’s bullish forecast focusing on artificial intelligence (AI). The Nasdaq .IXIC looks on course for weekly gains and the S&P 500 .SPX is nearing a record high.

S&P 500 e-minis EScv1 were up 26 points, or 0.54%, and Dow e-minis 1YMcv1 were up 207 points, or 0.55%, and Nasdaq 100 e-minis NQcv1 were up 127.75 points, or 0.75%. For individual movers, Spirit Airlines gained 31.8%, while iRobot slumped 34.6%.

Travelers Cos jumped 5.6% after the insurer’s fourth-quarter profit more than doubled. Comerica declined 1.5% after forecasting a drop in annual net interest income, while State Street advanced 5.2% after topping quarterly revenue expectations.Overall, money market participants have toned down expectations for a 25-basis-point rate cut in March to 52%.



Read more: US STOCKS-Wall St set for higher open with chips, megacaps in spotlight