The stock market rebounded on Wednesday, with the Dow Jones Industrial Average making solid gains. Lyft surged over 35% due to a “clerical error” in its press release, while Uber Technologies rallied over 11% following a $7 billion stock buyback program announcement.
After the opening bell, the Dow Jones Industrial Average rose by 0.3%, the S&P 500 was up 0.7%, and the Nasdaq composite advanced 0.9%. Various stocks and exchange-traded funds moved in different directions throughout the day.
Lyft reported strong earnings results but later corrected a margin expansion figure, causing some volatility in its stock price. Other companies like Airbnb, Global Payments, Instacart, and Robinhood also saw movement in response to earnings reports.
The previous day had seen declines in major indices, but some stocks, like Procter & Gamble and Walmart, remained in buy range. Companies like Lennar, MongoDB, Samsara, and UiPath experienced fluctuations in their stock prices.
Nvidia and Tesla were among the top performers on Wednesday. Apple and Microsoft were also notable, with Apple forming a double-bottom base and Microsoft remaining out of buy range.
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