U.S. technology stocks rebounded on Wednesday, with the report attributing the advance to renewed enthusiasm for artificial-intelligence-related trades and buying after the recent decline. The Nasdaq 100 rose 2.3% to 28374.25, moving above its 200-day moving average and closing at its highest level since November 4. The S&P 500 gained 1.3% to 7619.38, the Dow Jones Industrial Average added 0.5% to 52486.49, and the Nasdaq Composite advanced 1.6% to 25466.19. CoreWeave shares climbed 25%, their largest one-day increase in more than a year, after the company reported revenue above expectations and issued an outlook stronger than Wall Street had anticipated. The report also said indications of interest for Anthropic’s initial public offering were several times the number of shares available, while OpenAI delivered strong quarterly results; those developments were cited as helping revive investor attention toward the AI trade.
Summary
U.S. technology stocks rebounded on Wednesday, with the report attributing the advance to renewed enthusiasm for artificial-intelligence-related trades and buying after the recent decline. The Nasdaq 100 rose 2.3% to 28374.25, moving above its 200-day moving average and closing at its highest level since November 4. The S&P 500 gained 1.3% to 7619.38, the Dow Jones Industrial Average added 0.5% to 52486.49, and the Nasdaq Composite advanced 1.6% to 25466.19. CoreWeave shares climbed 25%, their largest one-day increase in more than a year, after the company reported revenue above expectations and issued an outlook stronger than Wall Street had anticipated. The report also said indications of interest for Anthropic’s initial public offering were several times the number of shares available, while OpenAI delivered strong quarterly results; those developments were cited as helping revive investor attention toward the AI trade.