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Stocks rose on Wednesday as Wall Street attempts to move past the downward momentum felt at the start of the second quarter.
The Dow Jones Industrials regained 106.52 points to 39,276.76.
The S&P 500 hiked 20.12 points to 5,225.93.
The NASDAQ recovered 74.93 points to 16,315.38.
Artificial intelligence darling Nvidia swung into the green in Wednesday morning trading, helping broader market sentiment. Fellow mega-cap technology stocks Netflix and Meta climbed more than 1% each.
But higher rates still weighed on the market as they have since the second quarter began this week. ADP data released Wednesday showing private payrolls grew more than expected in March, offering another sign of resiliency in the economy as investors grow increasingly concerned about the path of interest rate cuts from the Federal Reserve.
Prices for the 10-year Treasury faded, hiking yields to 4.39% from Tuesday’s 4.38%. Treasury prices and yields move in opposite directions.
Oil prices soared 59 cents at $85.74 U.S. a barrel.
Gold prices spiked $21.90 to $2,303.70 U.S. an ounce.
