Stocks climbed higher Wednesday after Wall Street snapped a three-day losing streak. Investors also looked to claw back more of the losses suffered earlier in the week.
The Dow Jones Industrial index rallied 340.02 points to 39,337.68.
The S&P 500 index gained 63.61 points, or 1.2%, to 5,303.64.
The NASDAQ surged 242.43 points, or 1.2%, to 16,609.28.
Nvidia, Meta Platforms and Advanced Micro Devices all gained more than 2%. Tesla, Apple and Microsoft were also higher on the day.
Meanwhile, shares of Super Micro Computer pulled back 14% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Airbnb slipped 14% 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 gained sharply, yields regressing to 3.4% from Tuesday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices grew $1.27 at $74.47 U.S. a barrel.
Gold prices recouped $10.30 to $2,441.90.
