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Wall Street set for rebound after three-day losing streak
The rebound lifted the Russell 2000 ahead of larger-cap peers, while sector leadership came from airlines, gold and silver miners, and regional banks.
Wall Street added to gains on Wednesday as all three major U.S. stock indexes rebounded from a three-day losing streak, with investors hunting for stocks and sectors seen as oversold after recent risk-off moves, according to Reuters.
The Russell 2000 was slightly ahead of its larger-cap peers. Sector leadership came from airlines, gold and silver miners, and regional banks, while software and services lagged amid concerns that AI disruption could hit that segment hardest.
The Philadelphia SE Semiconductor Index, which has driven much of the year-to-date market advance but has fallen nearly one-fourth since late June, rose. Broadcom was also expected to report second-quarter results after the bell, while Nvidia gained 3.4% and other chipmakers such as Micron and Qualcomm were higher.
Major indexes climbed modestly, with the Dow Jones Industrial Average up 270.05 points, or 0.5%, to 53,036.93, the S&P 500 up 37.10 points, or 0.5%, to 7,668.57, and the Nasdaq Composite up 100.11 points, or 0.4%, to 26,199.89. Reuters also noted that a global bond selloff tied to inflation and rising government debt, alongside escalating Middle East tensions and higher energy-price pressure, continued to weigh on sentiment.
Latest closeGold $4,431.70 ▲1.9%|Silver $65.91 ▲2.0%|S&P 500 7,666.60 ▲0.5%