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Barchart
Rich Asplund

Stocks Rebound and Close Higher on Chip Stock Strength

Nasdaq SP United States Dow Jones Industrials Barkin Advanced Micro Devices Alphabet Qualcomm US Federal Reserve YUM

The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.39%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.42%.  March E-mini S&P futures (ESH25) rose by +0.42%, and March E-mini Nasdaq futures (NQH25) rose by +0.48%. 

Stock indexes recovered from early losses on Wednesday and settled moderately higher.  The sharp decline in bond yields on Wednesday induced short-covering in stocks after the 10-year T-note yield tumbled to a 7-week low.  The fall in bond yields also sparked a rally in chip stocks that supported gains in the broader market.

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