U.S. equities stabilized through the afternoon session, supported by renewed strength in bitcoin and a rebound in major technology names. By 14:39 GMT, the Dow added 0.08%, the S&P 500 gained 0.43%, and the Nasdaq advanced 0.86% as traders attempted to recover from the sluggish start to December.
Is Tech’s Bounce Enough to Restore Confidence?
Bitcoin climbed 3.8%, recovering part of Monday’s slide and helping lift associated growth stocks. AI-linked names strengthened, with Oracle reversing previous losses and Nvidia rising nearly 2%.
The tech sector’s firm showing contrasted with Monday’s weakness, when the Nasdaq’s decline capped a five-day win streak across major indexes. Concerns tied to inflation, stretched valuations, and questions over long-term spending on artificial intelligence have pressured sentiment in recent sessions.
How Are Sectors and Key Stocks Reacting?
Sector performance reflected selective risk appetite. Technology led with a 1.37% gain, while energy, consumer staples, and materials lagged. Industrials posted slight strength, and communication services also gained.
Leading individual performers included Applovin, Boeing, Teradyne, Dell, Oracle, Western Digital, Palantir, and Nvidia.
On the downside, Valero, Zoetis, Procter & Gamble, Marathon Petroleum, and Hershey weighed on sector groups.