Stocks rallied on Wednesday, pushing the Dow Jones Industrial Average and S&P 500 higher for the second day in a row, as investors looked past the trade turmoil that weighed on the market earlier in the week.
The gains came even as notable technology stocks Alphabet and AMD
posted steep losses following earnings.
The blue-chip Dow climbed 317 points, or 0.7%, led by gains in Nvidia
.The broad market index rose about 0.4%, putting its week-to-date gains into positive territory at 0.3%. Meanwhile, the Nasdaq Composite ticked higher by 0.2%.
Nvidia jumped 4% after the server maker Super Micro Computer
announced full production availability of its AI data center with Nvidia's Blackwell platform. Super Micro shares also rose 7% following the announcement.
Amgen also helped the Dow's rise in the session, as the stock advanced 6% on the heels of its better-than-expected adjusted earnings and revenue for the fourth quarter.
The Dow, along with the two other major averages, tumbled on Monday after the U.S. unveiled a 10% levy on Chinese imports over the weekend. But the benchmarks started to turn around later in that trading day and have continued that trend into Tuesday, which also saw China retaliate with tariffs of up to 15% on U.S. goods.
"Overall, Third Point expects the environment for investing in equities to continue to be favorable, with the caveat that there will likely be periodic dislocations caused by the unconventional approach of this Administration in conveying and enacting policy that affects markets and the economy," Dan Loeb said in a new investor letter on Tuesday.
Alphabet shares tumbled 8% after the Google-parent posted a cloud revenue miss as it ramps up spending on artificial intelligence, spooking investors who worried the megacap technology company will take longer to capitalize on its AI ambitions. Overall revenue for the period also came up short.
AMD shares were also lower by 7% after the company's fourth-quarter data center revenue came up short of expectations.
Elsewhere in tech, Apple dropped nearly 1% after Bloomberg News reported that regulators in China were considering launching a formal investigation into the company's App Store fees and policies.(Cay) Newsmaker23
Soource: CNBC
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats....
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. ...
Federal Reserve Chairman Jerome Powell, in a letter on Thursday, rebutted criticism leveled at the central bank by a top White House official regarding the $2.5 billion renovation project. "We take seriously our responsibility to be good stewards...
The US dollar (USD) weakened on Friday (July 18th), retreating from a three-week high as momentum waned. However, the greenback remained supported by strong US economic data released this week, which has reduced the likelihood of an immediate...
Oil prices edged higher on Friday (July 18th), heading for a slight weekly loss, as investors weighed new EU sanctions against Russia. Brent crude futures rose 50 cents, or 0.72%, to $70.02 a barrel at 09:12 GMT, while U.S. West Texas Intermediate...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...