WASHINGTON (dpa-AFX) - Following the pullback seen during Tuesday's session, stocks saw a significant rebound during trading on Wednesday. The Nasdaq and S&P 500 moved sharply higher, while the narrower Dow posted a more moderate gain.
The major averages gave back some ground in the latter part of the trading day but remained firmly positive. The Nasdaq surged 400.31 points or 1.6 percent to 25,466.19, the S&P 500 jumped 98.45 points or 1.3 percent to 7,619.38 and the Dow climbed 254.60 points or 0.5 percent to 52,486.49.
Technology stocks have helped lead the markets back to upside, as reflected by the sharp increase by the tech-heavy Nasdaq.
The strength in the sector came amid a positive reaction to quarterly results from neocloud company CoreWeave (CRWV).
Shares of CoreWeave are soaring by 26 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) also jumped by 3.1 percent.
Semiconductor stocks showed a particularly strong move to the upside on the day, driving the Philadelphia Semiconductor Index up by 5.7 percent.
Substantial strength was also visible among semiconductor stocks, resulting in a 5.2 percent spike by the NYSE Arca Computer Hardware Index.
Outside of the tech sector, energy stocks are moving sharply higher along with the price of crude oil, with the NYSE Arca Oil Index and the Philadelphia Oil Service Index both jumping by 2.3 percent.
Brokerage stocks also turned in a strong performance on the day, while gold stocks showed a notable move to the downside amid a decrease in the price of the precious metal.
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 rose by 0.5 percent.
The major European markets also moved to the upside on the day. While the German DAX Index shot up by 1.2 percent, the U.K.'s FTSE 100 Index advanced by 0.8 and the French CAC 40 Index climbed by 0.7 percent.
Meanwhile, the U.S. bond markets are closed in honor of Veterans Day.
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