U.S. stocks were slightly higher Wednesday as the rapid increase in the 10-year Treasury yield cooled, leading investors to buy some beaten-up tech stocks on the dip.
The Dow Jones Industrials restocked 137.44 points to 34,437.43
The S&P 500 recounted 23.31 points to 4,375.94.
The NASDAQ Composite felt around for the bruises from Tuesday, but then gained 107.98 points to 14,654.66, after the worst day for the
index since March.
The Dow and S&P are now down 3% for September. The NASDAQ is down more than 4.5%.
Tech stocks were rebounding in Wednesday's early trading. Facebook, Amazon, Apple and Alphabet all rose. Zoom Video added more than 1%.
Shares of the semiconductor company Micron slipped 0.5% after it reported earnings and revenue outlook for the first quarter of 2022 that missed consensus estimates. Shares of discount retailer Dollar Tree jumped 13% after the company announced that it was increasing its stock buybacks and experimenting with higher prices in some locations.
Prices for 10-Year Treasurys gained ground, lowering yields to 1.51% from Tuesday's 1.54%. Treasury prices and yields move in opposite directions.
Oil prices shed 58 cents to $74.71 U.S. a barrel.
Gold prices solidified $1.70 to $1,739.20 U.S. an ounce.