Wall Street recoups some losses with strength in tech, materials
SPY•Wall Street closes higher as tech rebounds
Wall Street's three major indexes closed higher on Wednesday after falling for the last three sessions, with technology providing the biggest boost after Dell reported strong quarterly results and raised its financial outlook.
Nvidia, Meta, Micron and Dell boost the index
Among individual stocks, the benchmark index's biggest boosts came from Nvidia, up 3%, Meta Platforms, up 2.5%, Micron Technology, up 2.4%, and Dell, which finished up 15.8%.
Its biggest drags were from software companies, with Microsoft down just 0.8% but weighing most in terms of index points. Palo Alto Networks was the second biggest drag, falling more than 9% even though it beat quarterly earnings estimates.
With that, the S&P 500 software index ended down 1.7% in its third straight day of declines.
Materials lead S&P 500 sectors; real estate lags
Among the S&P 500's 11 major industry sectors the only loser was real estate, which ended down 0.8%. The biggest gainer was materials, which added 1.5%.
The materials stocks with the biggest advance were steel companies, with Steel Dynamics adding 5.8% and Nucor rising 4.8% after U.S. President Donald Trump said in a social media post that tariffs on all Canadian cars, trucks, automotive parts and steel would be increased to 50% starting January 1.
