U.S. stocks snapped a three-day losing streak Wednesday as gains by big technology companies and relatively steady oil prices and bond yields helped lift the market after a downbeat start to the week.
The S&P 500 index rose 0.5%. The Dow Jones Industrial Average rose 0.6%, and the Nasdaq composite gained 0.5%.
The market has been under pressure this week from rising oil prices and a bond-market sell-off. The rocky start to September follows a mostly positive August during which every major index notched a gain for the month.
While Wall Street remains gripped by anxiety over rising prices, government debt and the impact of global conflicts, investors got a breather from the recent volatility in the bond market Wednesday.
Investors also got some encouraging signals about demand for artificial intelligence from two big tech companies, Dell and Palo Alto Networks.
Dell Technologies jumped 15.8% for the biggest gain among S&P 500 stocks after delivering strong second-quarter profits amid accelerating demand for AI computing. The company also raised its fiscal year revenue outlook.
Palo Alto Networks also reported quarterly results that topped Wall Street’s expectations, citing a strong market for AI cybersecurity, though its shares fell 9.3%.
Oil prices held relatively steady despite the intensification in the U.S. war with Iran. The price of Brent crude, the international standard, rose 1% to settle at $95.63 per barrel. U.S. oil climbed 0.9% to settle at $91.01 per barrel.
Energy stocks were mixed. Chevron edged 0.3% higher after confirming it will expand operations in Venezuela.
The yield on the 10-year Treasury, which tends to impact mortgage rates, slipped to 4.78% from 4.79% late Tuesday.
The yield on the 2-year Treasury dipped to 4.37% from 4.39%.
— Associated Press


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