WASHINGTON (dpa-AFX) - Stocks have shown a strong move to the upside during trading on Wednesday, more than offsetting the pullback seen in the previous session. The Nasdaq and S&P 500 have moved sharply higher, although the narrower Dow has bucked the uptrend.
Currently, the Nasdaq is up 423.73 points or 1.7 percent at 25,489.61 and the S&P 500 is up 82.37 points or 1.1 percent at 7,603.30. The Dow, on the other hand, is down 40.89 points or 0.1 percent at 52,191.00.
Technology stocks have helped lead the markets back to upside, as reflected by the surge by the tech-heavy Nasdaq.
The strength in the sector comes amid a positive reaction to quarterly results from neocloud company CoreWeave (CRWV).
Shares of CoreWeave are soaring by nearly 23 percent after the company reported better-than-expected third quarter results and raised its full-year revenue guidance.
After moving sharply lower earlier in the week on news of CEO Jensen Huang's affair with an alleged Chinese spy, shares of Nvidia (NVDA) are also jumping by 3.5 percent.
Computer hardware stocks are turning in some of the tech sector's best performances, with the NYSE Arca Computer Hardware Index spiking by 6.5 percent.
Substantial strength is also visible among semiconductor stocks, resulting in a 6.2 percent surge by the Philadelphia Semiconductor Index.
Outside of the tech sector, oil service stocks are moving sharply higher along with the price of crude oil, driving the Philadelphia Oil Service Index up by 3.1 percent.
Brokerage stocks are also turning in a strong performance on the day, while housing stocks have shown a notable move to the downside amid concerns about higher interest rates.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Wednesday. Japan's Nikkei 225 Index jumped by 1.3 percent, while China's Shanghai Composite Index climbed by 0.5 percent.
The major European markets have also moved to the upside on the day. While the German DAX Index is up by 0.9 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index are both up by 0.4 percent.
Meanwhile, the U.S. bond markets are closed in honor of Veterans Day.
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