U.S. markets closed higher on Wednesday, with the S&P 500 and the Nasdaq surging over 1 per cent each, amid a positive reaction to quarterly results from neocloud company CoreWeave (CRWV). Shares of CoreWeave soared after the company reported better-than-expected third quarter results and raised its full-year revenue guidance. Nvidia also recovered some ground following a sharp two-session sell-off. On the sectoral front, substantial strength was visible among semiconductor stocks, resulting in a 5.2 percent spike by the NYSE Arca Computer Hardware Index. Outside of the tech sector, energy stocks are moving sharply higher along with the price of crude oil, with the NYSE Arca Oil Index and the Philadelphia Oil Service Index both jumping by 2.3 percent. Brokerage stocks also turned in a strong performance on the day, while gold stocks showed a notable move to the downside amid a decrease in the price of the precious metal.
Dow Jones Industrial Average increased by 254.6 points or 0.49 percent to 52,486.49, Nasdaq was up by 400.31 points or 1.60 percent to 25,466.189 and S&P 500 rose by 98.45 points or 1.31 percent to 7,619.38.
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