05.11.202521:02:26UTC+00US Stocks Rebound

The S&P 500 rose by 0.4%, the Nasdaq increased by 0.8%, and the Dow Jones advanced by 270 points as investors returned after the recent downturn on Tuesday. This movement was partly spurred by the Supreme Court's critical examination of the Trump tariff case, which lessened immediate concerns about tariff adherence. Investors have scaled back their expectations that the tariffs would be sustained due to this scrutiny. Unexpectedly strong private payroll numbers from ADP, indicating a gain of approximately 42,000 jobs, along with an ISM services index that surged to an eight-month peak, bolstered the narrative of solid economic activity and supported a favorable investment sentiment. Within the stock market, the rebound was driven by major technology and communication companies. Notably, Alphabet increased by 2.4%, Meta rose by 1.4%, Broadcom gained 1.8%, and Tesla went up by 2.7%, as the downturn driven by artificial intelligence concerns took a pause. However, the rally was selective; Palantir continued its decline with a 1.5% drop, while Super Micro Computer experienced a significant plunge of 12.2% following a bleak forecast.