Stocks rose Wednesday with tech stocks leading the way as investors prepared for quarterly earnings from Nvidia (NVDA), the company at the heart of this year's AI rally.
The Nasdaq rose 1.6%, or 215 points, while the S&P 500 rose 1.1%. The Dow Jones Industrial Average climbed 0.5%.
Chinese stocks resumed their month-long slide Wednesday, with the Shanghai Composite falling 1.3%. European stocks fared slightly better, rising on the day but paring early gains after data showed growth in the EU's services sector slowing for the first time since last year. That led traders to bet the European Central Bank (ECB) will pause raising rates at its meeting next month, driving up European bond prices.
Yesterday, stocks ended the day mixed, with the Nasdaq inching up slightly, boosted by Big Tech. Meanwhile, the S&P 500 and the Dow were dragged down by financials after credit rating agency S&P downgraded several U.S. banks.
