The Dow Jones Industrial Average gained more than 300 points to set a new all-time closing high Wednesday as it paved the way for other major stock indexes to end up in the black. Among those who reaped rewards was Nvidia, which shook off a steep drop from Tuesday and made substantial gains on the stock market today.
The Dow Jones index climbed 0.8% or 337 points to come in near 43,078. The closing high was 43,065, set on Monday, but the index's intraday mark of 43,278 was set Tuesday before bears sent the Dow tumbling.
The S&P 500 broke into positive territory and stayed there with a 0.5% gain. The benchmark index still has some ground to make up to get near the intraday and closing records set on Monday. Among the S&P sectors, utilities and financials led while communication services and consumer staples declined.
And after sitting with a deficit for much of the morning, the Nasdaq managed to finish the day with a 0.3% rise.
Volume on the New York Stock Exchange and on the Nasdaq was lower compared with the same time on Tuesday. Advancers beat decliners by more than 3-to-1 on the NYSE and nearly as much on the Nasdaq.
Small caps on the Russell 2000 jumped 1.7% on the stock market today while the Innovator IBD 50 exchange traded fund climbed 0.8%.
The yield on the benchmark 10-year Treasury note fell two basis points to 4.01%.
1:43 p.m. ET
Amazon Goes Nuclear
Amazon was the latest tech titan among the "Magnificent Seven" group of stocks to invest in small nuclear reactors to power data centers. The e-commerce giant took a stake in X-Energy. Shares of Amazon were down nearly 1%.
Amazon's move follows a Monday action by Google-parent Alphabet. Google made a deal with Kairos Power for nuclear energy.
According to Barron's, Google's move could affect Centrus Energy, NuScale Energy, BWX Technologies and Oklo. Google shares were off fractionally Wednesday.
12:23 p.m. ET
Stock Market Today: Health Stocks Break Out
In stocks, Paymentus broke out of a cup with handle with a buy point of 23.77. Meanwhile, long-term health care company PACS rose above a buy point of 42.25.
In the medical-hospitals group, Ardent Health Partners also cleared a buy point of 20.30. The medical hospitals category was an outperformer among the 197 industry groups followed by Investors Business Daily.
10:52 a.m. ET
Nvidia Regroups, Morgan Stanley Surges On Earnings
Artificial intelligence chip giant Nvidia added nearly 2% on the stock market today, a day after it took a near-5% blow. Shares fell after chip gear maker ASML disappointed Wall Street with its third-quarter results and outlook Tuesday. That resulted in a rout for chip stocks.
While Nvidia fell sharply Tuesday, it held onto its short 10-day moving average. Nvidia is on three elite lists: the growth IBD 50, along with model portfolios IBD Leaderboard and IBD SwingTrader.
Morgan Stanley cruised through a buy zone from an entry at 109.11 after results pushed shares more than 7% higher. Revenue from deals and underwriting rose while trading activity in equity and fixed income also helped. Earnings rose to $1.88 per share on revenue of $27.4 billion.
Nvidia Rises In Buy Area; Why Nuclear Stocks Are Radioactive Now
Dow Jones Stocks: Apple Retreats
Tech leaders underperformed on the Dow Jones index. Apple broke out briefly above a 237.23 buy point in intraday trades on Tuesday but ended up below that threshold.
Apple shares managed to stay above an alternate buy point at 233.09 through Tuesday's close, but gave up that entry as well Wednesday with a drop of more than 1%.
United Health made up for some of Tuesday's losses but remained below the 50-day moving average after a weak outlook sent the stock gapping down. Shares were in a flat base but they have since undercut it, according to IBD MarketSurge.
Stock Market Today: United Flies, Morgan Stanley Cruises
Earnings sent United Airlines stock surging nearly 9% after the carrier reported third-quarter sales and earnings above views. Earnings of $3.33 per share on sales of $14.8 billion beat estimates of $3.17 a share on sales of $14.77 billion.
Shares rallied past the 25% profit zone from a buy point of 49.67 ahead of earnings and headed 10% higher on Wednesday.
Interactive Brokers sold off in volume that was tracking nearly 800% higher than average after sales and earnings decelerated in its fiscal third quarter. Shares reversed after a 20% gain from a 129.19 buy point.
Among other earnings movers, U.S. Bancorp entered a buy zone from an entry of 47.31. Synchrony Financial moved through a buy zone that goes up to 55.30 from a 52.67 entry. And Citizens Financial hovered around a 43.30 buy point.
Taiwan Semiconductor is due to report third-quarter results Thursday. Shares hovered above a buy zone from a cup-with-handle entry at 175.45 on the stock market today.
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