Advertisment
U.S. stocks rose Wednesday, aided by recovering technology names after back-to-back losing sessions on Wall Street.
The Dow Jones Industrials jumped 210.95 points Wednesday afternoon to 38,796.14.
The S&P 500 gained 45.84 points to 5,124.49.
The NASDAQ hiked 170.72 points to 16,110.31.
CrowdStrike jumped more than 11% on a top-and-bottom line beat for the latest quarter and a strong outlook. Palantir popped more than 10% after winning a significant army contract.
While tech names rallied, Nordstrom tumbled more than 13% after warning of potential sales declines in 2024. Foot Locker, another retailer, lost more than 28% on weak guidance for full-year earnings.
In prepared remarks for appearances on Capitol Hill, Federal Reserve Chair Jerome Powell said the central bank could lower interest rates this year. But the Fed chief said the bank is not immediately ready to cut the cost of borrowing money.
Prices for the 10-year Treasury bounced, lowering yields to 4.10% from Tuesday’s 4.14%. Treasury prices and yields move in opposite directions.
Oil prices gathered $1.80 to $79.95 U.S. a barrel.
Gold prices progressed $15.10 to $2,157.
