Stocks rose on Wednesday as investors analyzed the latest batch of corporate earnings following a losing session on Wall Street. AMD fell 6%; Shopify soared 17%.
Those moves follow a losing day on Wall Street, marking the S&P 500′s fifth down day of the last six and the Dow’s sixth negative session of the past seven.
Tech stocks lagged in Tuesday’s session, with the Nasdaq Composite sliding nearly 0.7%. Small caps were able to buck the market downtrend, with the Russell 2000 climbing 0.6%.
“We just need some digestion,” said Keith Lerner, co-chief investment officer at Truist Wealth, on CNBC’s “Closing Bell.” “Markets don’t move in a straight line. … But, overall, I still think the underlying trend is positive.”
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