Stocks rebounded on Wednesday, recovering some of the losses from the previous session. The S&P 500 rose by 0.96% to close at 5,000.62, while the Nasdaq Composite saw a 1.3% increase to settle at 15,859.15. The Dow Jones Industrial Average also climbed by 151.52 points or 0.4%, ending the day at 38,424.27.
Lyft shares surged by 35% following better-than-expected earnings for the fourth quarter. On the other hand, Airbnb experienced a slight dip of 1.7%, despite exceeding revenue expectations in its most recent quarter.
Nvidia’s stock rose by nearly 2.5%, pushing the chipmaker’s market capitalization briefly above that of Alphabet. This came after Nvidia had seen a slight decline of 0.2% on Tuesday, amidst a broader decline in technology stocks due to rising Treasury yields.
Source (CNBC)
