U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
U.S. markets closed higher led by a technology rebound, as Nvidia forecast stronger revenue, Axon Enterprise surged on earnings, and GoDaddy fell on weaker annual guidance.
U.S. stocks ended higher on Wednesday, with the Dow gaining about six-tenths of a percent, the S&P 500 adding eight-tenths of a percent, and the tech-heavy Nasdaq climbing roughly one-and-a-quarter percent.
The technology-led rally came as markets approached the end of a tumultuous month marked by concerns over massive artificial intelligence spending and disruption among software and other companies.
Brian Mulberry, chief market strategist at ZAC's Investment Management, said there was a modest recovery in software stocks, helping lift the Nasdaq.
He said the market appears to have realized that software is not obsolete, pointing to a deal announced the previous day in which Anthropic is working directly with Microsoft, providing ten new plugins for Microsoft’s programming.
Microsoft can use these within its agentic platform on the Azure cloud business.
Stocks on the move Wednesday included artificial intelligence powerhouse Nvidia, whose quarterly results have been a focal point for investors.
Shares of the chipmaker closed nearly one-and-a-half percent higher and rose further in extended trading after the company forecast first-quarter revenue above market estimates.
Other notable movers included Taser maker Axon Enterprise, which jumped more than 17 percent after exceeding fourth-quarter profit estimates.
On the downside, shares of GoDaddy fell more than 14 percent after the internet services provider projected annual revenue below Wall Street expectations.
The technology-led rally came as markets approached the end of a tumultuous month marked by concerns over massive artificial intelligence spending and disruption among software and other companies.
Brian Mulberry, chief market strategist at ZAC's Investment Management, said there was a modest recovery in software stocks, helping lift the Nasdaq.
He said the market appears to have realized that software is not obsolete, pointing to a deal announced the previous day in which Anthropic is working directly with Microsoft, providing ten new plugins for Microsoft’s programming.
Microsoft can use these within its agentic platform on the Azure cloud business.
Stocks on the move Wednesday included artificial intelligence powerhouse Nvidia, whose quarterly results have been a focal point for investors.
Shares of the chipmaker closed nearly one-and-a-half percent higher and rose further in extended trading after the company forecast first-quarter revenue above market estimates.
Other notable movers included Taser maker Axon Enterprise, which jumped more than 17 percent after exceeding fourth-quarter profit estimates.
On the downside, shares of GoDaddy fell more than 14 percent after the internet services provider projected annual revenue below Wall Street expectations.
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