US Stocks Rebound
The S&P 500 gained 0.4%, the Nasdaq climbed 0.8% and the Dow Jones rose 270 points as buyers stepped in following Tuesday’s pullback and the Supreme Court’s skeptical questioning of the Trump tariff case trimmed near-term tariff risk.
Markets reduced their bets that the court would uphold the tariffs in light of that skepticism. Stronger-than-expected private payrolls in ADP, which showed a modest gain of roughly 42,000, and an ISM services reading that moved to an eight-month high reinforced the case for resilient activity and underpinned risk appetite.
At the stock level the rebound was led by big tech and communication names with Alphabet up 2.4%, Meta up 1.4%, Broadcom up 1.8% and Tesla up 2.7% as the AI-led selloff paused. The rally was selective however, with Palantir extending losses by 1.5% and Super Micro Computer plunging 12.2% after a weak outlook.
Source: Tradingeconomics.com