U.S. Stocks End Wednesday in Positive Territory

(MENAFN) Wall Street closed firmly in positive territory Wednesday, as better-than-anticipated economic readings on employment and the services sector injected fresh confidence into financial markets rattled by geopolitical uncertainty earlier in the week.

The Dow Jones Industrial Average advanced 0.49 percent to close at 48,739.41, while the S&P 500 gained 0.78 percent to settle at 6,869.5. The Nasdaq Composite Index outpaced both, climbing 1.29 percent to finish at 22,807.48.

Eight of the 11 primary S&P 500 sectors ended the session in positive territory. Consumer discretionary and technology paced the gainers, rising 2.24 percent and 1.27 percent respectively, while energy and consumer staples lagged, slipping 0.73 percent and 0.53 percent.

Markets had endured a turbulent stretch, with war-driven anxiety sending volatility sharply higher and equities stumbling earlier in the week. Aggressive dip-buying, however, helped arrest the slide and underpin Wednesday’s recovery.

Two closely watched economic releases provided the clearest catalyst for the session’s gains. Payroll processing firm ADP reported that U.S. private employers added more jobs than forecast in February, signaling continued labor market resilience. Separately, the domestic nonmanufacturing sector expanded ahead of expectations last month, with data also pointing to a gradual easing of inflationary pressures — a development likely to be welcomed by policymakers and investors alike.

The technology sector served as the market’s primary engine, with semiconductor stocks leading the charge. Micron Technology and Advanced Micro Devices each surged more than 5.5 percent, Nvidia added 1.66 percent, and Broadcom edged up 1.18 percent as investors positioned ahead of the chipmaker’s closely watched quarterly earnings report, due after the closing bell.

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