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U.S. stocks rose Wednesday, aided by recovering technology names after back-to-back losing sessions on Wall Street.
The Dow Jones Industrials jumped 151.79 points to kick off Wednesday at 38,736.98.
The S&P 500 gained 23.76 points to 5,102.41.
The NASDAQ hiked 59.62 points to 15,999.21.
CrowdStrike soared more than 17% on a top-and-bottom line beat for the latest quarter and a strong outlook. Palantir popped more than 4% after winning a significant army contract.
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.
While tech names rallied, Nordstrom tumbled more than 13% after warning of potential sales declines in 2024. Foot Locker, another retailer, lost more than 24% on weak guidance for full-year earnings.
Prices for the 10-year Treasury bounced, lowering yields to 4.12% from Tuesday’s 4.14%. Treasury prices and yields move in opposite directions.
Oil prices gathered $1.72 to $79.87 U.S. a barrel.
Gold prices progressed $7.20 to $2,149.10.
