Dow, Nasdaq Move Higher As Stocks Rebound From Recent Losses
(RTTNews) - U.S. stocks climbed higher on Wednesday, recovering from previous session's decline, and the major averages all were up firmly in positive territory a little past noon.
Despite some uncertainty surrounding the US-Iran peace deal amid disagreements between the two nations over a few key terms of the pact, the mood on Wall Street remained fairly positive.
Shares of tech firms, which suffered losses in recent sessions amid concerns over increase expenditure on AI infrastructure, moved higher today. Investors awaited earnings update from Micron.
The Dow climbed 485.29 points or 0.95 percent to 52,152.13. The S&P 500 moved up 47.85 points or 0.65 percent to 7,413.32, while the Nasdaq advanced 186.23 points or 0.7% to 25,774.27.
Apple, Alphabet, Amazon, Broadcom, Intel Corporation, Visa, Caterpillar, Mastercard, GE Aerospace, Dell, Linde, American Express and Analog Devices gained 1 to 3 percent.
Pfizer shed about 2.3%. AT&T, Charles Schwab Corporation, Verizon Communications, Qualcomm, Seagate Technology Holdings, IBM, Chevron Corporation, Morgan Stanley and Oracle shed 1 to 4 percent.
In economic news, data from the Commerce Department showed sales of new single-family homes in the US tumbled 7.3 percent month-over-month in May to the lowest annualized rate of 580,000, following an upwardly revised 626,000 in April.
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