The S&P 500 rose 46.66 points to 3,380.35. The Dow Jones Industrial Average gained 289.93 points, or 1%, to 27,976.84.
“Economic data is coming in much better than expected; the earnings season is much better than expected,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. Technology stocks were among the biggest forces prodding the market higher. It’s a return to form for them, following a mini-stumble in recent days.
The yield on the 10-year Treasury rose to 0.67% from 0.66% late Tuesday. It’s jumped sharply since sitting at 0.57% late Monday. Other risks also continue to loom over the market, including worsening tensions between the United States and China, which are the world’s largest economies. Technology companies have been in focus in particular, and worries about potential retaliation by China were a big reason for U.S. tech stocks’ struggles earlier in the week.
Trump Presidency.