So US stocks bounced back pretty hard on Wednesday after getting hammered the day before. The major indices all moved into positive territory, with the Nasdaq leading the charge up about 1.1 percent. S&P 500 gained 0.6 percent and the Dow climbed 0.5 percent. Traders were basically hunting for bargains after Tuesday's selloff had pushed everything down to three-month lows.

The interesting part was watching oil prices pull back after hitting their highest levels since June. That actually helped sentiment a lot because it eased some of the energy supply concerns from the Middle East situation. Trump announced the U.S. would provide insurance for maritime trade security and have the Navy escort tankers through the Strait of Hormuz if needed, which seemed to calm things down on the geopolitical front.

On the economic side, we got some solid data. ADP reported private sector employment in the U.S. jumped by 63,000 jobs in February, beating expectations of 48,000. Then the services PMI came in stronger than expected too, hitting 56.1, which was the highest reading since mid-2022. That kind of economic strength is exactly what traders want to see.

Sectorwise, semiconductors were on fire, and retail stocks also posted solid gains. Meanwhile, you had Asia getting hit pretty hard overnight - Japan's Nikkei down 3.6 percent, Korea down over 12 percent - but European markets managed to recover with gains across the board. The bond market kept selling off, pushing the ten-year yield up to 4.077 percent. Overall it was a solid day for US stocks despite the mixed international picture.