Advertisment
Stocks climbed Wednesday, clawing back more of the sharp losses suffered earlier in the week.
The Dow Jones Industrial index leaped 290.87 points to 39,288.53.
The S&P 500 index gained 55.4 points, or 1.1%, to 5,298.43.
The NASDAQ surged 196.51 points, or 1.2%, to 16,563.37.
Nvidia and Meta Platforms added around 1%, while Advanced Micro Devices jumped nearly 3%. Apple and Microsoft were also higher on the day by more than 2%. Meanwhile, shares of Super Micro Computer pulled back 17% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Airbnb slipped 11% after issuing disappointing second-quarter results.
Wall Street is coming off a strong session. The S&P 500 and the NASDAQ each advanced 1%, while the 30-stock Dow added nearly 300 points. On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the yen carry trade.
Prices for the 10-year Treasury skidded, yields hiking to 3.94% from Tuesday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices grew $2.34 at $75.54 U.S. a barrel.
Gold prices slid 80 cents past breakeven to $2,432.40.
