US stocks rebound as Big Tech lifts S&P 500 and Nasdaq
US indices closed higher Wednesday as heavyweight technology gained. The S&P 500 rose 0.5%, the Nasdaq gained 0.2%, and the Dow added 295 points. Hyperscalers were mostly higher: Alphabet up 0.6%, Meta up 2.5%, Oracle up 3.1%.
The US stock indices closed higher on Wednesday, rebounding as heavyweight technology stocks posted gains.
The S&P 500 rose 0.5%, the Nasdaq gained 0.2%, and the Dow added 295 points.
Financials and technology shares recovered after rising Treasury yields in recent sessions had weighed on the outlook for credit-sensitive sectors.
Hyperscalers were mostly higher, with Alphabet up 0.6%, Meta rising 2.5%, and Oracle gaining 3.1%.
Alphabet was also supported after a federal judge ruled that Google would not have to divest its advertising exchange, instead requiring the company to make its ad-tech tools interoperable with rivals.
Meanwhile, Nvidia jumped 3.2% on reports it is nearing a $14 billion acquisition of AI startup Hugging Face.
Dell soared 15.8% after beating earnings expectations and raising its revenue guidance.
In contrast, Palo Alto sank 9.3% despite posting better-than-expected quarterly results, while Broadcom shed 0.7% ahead of its earnings report after the closing bell.