US shares rebound from declines to end Wednesday with gains

(MENAFN) On Wednesday, US stocks rebounded from earlier declines and closed the trading session with significant gains. The S&P 500 saw a notable increase, climbing 58 points, or 1.07 percent, to end the day at 5,554. Similarly, the Nasdaq Composite experienced a substantial rise, soaring 369 points, or 2.17 percent, reaching a closing value of 17,395. This rebound highlighted a strong recovery in the stock market after a period of losses.

The Dow Jones Industrial Average also posted a gain, rising by 124 points, or 0.31 percent, to close at 40,861. This increase was part of a broader uptrend observed across major US indices. Meanwhile, the VIX volatility index, often referred to as the "fear index," fell by 7.3 percent to 17.69, indicating a decrease in market uncertainty and investor anxiety.

In the bond market, the yield on the 10-year US Treasury rose by 0.36 percent, reaching 3.657 percent. This uptick in yields reflects a shift in investor expectations regarding future interest rates and economic conditions. The US dollar index also saw a slight increase of 0.1 percent, settling at 101.72, while the euro experienced a minor decline of 0.03 percent against the dollar, trading at USD1.1016.

In the commodities markets, precious metals exhibited mixed performance. Gold prices edged down by 0.1 percent, reaching USD2,513 per ounce, whereas silver prices saw an increase of 1.1 percent, closing at USD28.71. Oil prices, on the other hand, rose by more than 2.1 percent, with global benchmark Brent crude reaching USD70.64 per barrel and US benchmark West Texas Intermediate trading at USD67.31 per barrel. This rise in oil prices reflects ongoing dynamics in global energy markets.

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