S&P 500 opens up 23.86 points, or 0.31%, at 7,736.43

The tech-heavy Nasdaq outpacing the broader S&P 500 and the Dow on the open points to growth and risk appetite leading the move rather than a broad, uniform bid. That gap is the detail worth noting: when the Nasdaq leads, it often reflects positioning around technology and innovation exposure, which is where crypto and RWA-linked equities tend to sit. Whether that leadership holds through the session, or fades into a more even advance, is the open question.