Stocks popped Wednesday as investors looked to claw back losses from recent sessions. The Dow Jones Industrial Average was trading 275 points higher, or 0.7%. The S&P 500 jumped 1.4%, and the Nasdaq Composite advanced 1.9%. 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.
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. But the staying power of Tuesday’s rebound, which lifted all 11 sectors of the S&P 500, remains to be seen. Tumultuous times are likely still ahead, according to LPL Financial chief global strategist Quincy Krosby.
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