(Reuters)

The Nasdaq and the S&P 500 opened sharply higher on Wednesday after a bullish forecast from AMD boosted struggling chip stocks, while Microsoft faltered among megacaps ahead of an interest-rate decision from the Federal Reserve.

The Dow Jones Industrial Average rose 25.5 points, or 0.06%, at the open to 40,768.88. The S&P 500 rose 69.2 points, or 1.27%, at the open to 5,505.59​, while the Nasdaq Composite rose 351.8 points, or 2.05%, to 17,499.231 at the opening bell.