US Stocks to Open Higher as Chipmakers Lead, Earnings Season Set to Begin

The S&P 500 and Nasdaq are set for a stronger open as chipmakers lead the gains, with Micron, Western Digital, and SanDisk up between 3.6% and 5%. The iShares Semiconductor ETF has gained 1.8% on Friday, building on its 12% rally so far this year. US stocks are limping toward modest weekly losses, despite the S&P 500 and Dow setting new record closes on Monday. Worries over credit card interest rate caps have weighed on lenders' shares and broader markets. Markets will remain shut on Monday for Martin Luther King Jr. Day, but the earnings season will gather steam next week with results from Netflix, Johnson & Johnson, and Intel.