Dip buyers return to boost Wall Street gains – US Market Wrap
Daily Dose, US

Dip buyers return to boost Wall Street gains – US Market Wrap

– Stocks and bonds rose on a renewed wave of dip buying, following a slump caused by an unexpected increase in US inflation.
– As traders awaited the next few economic data points that will be key in shaping the Federal Reserve’s rate path, treasuries climbed, led by shorter maturities. Equities also rebounded, with big tech leading the way. Nvidia topped Alphabet market value, as the chip giant’s rally shows no signs of slowing.
– The S&P 500 recaptured its 5,000 level, while the tech-heavy Nasdaq 100 gained more than 1%. Liber Technologies Inc. jumped on promises to buy back shares, while two-year US rates fell eight basis points to 4.58%. Bitcoin surpassed $51,000.
– The reversal in bond yields Wednesday also favored a rebound in big tech, the group that has powered the stock-market resurgence.
– A day after the Nasdaq 100 popped above 18,000 for the first time, investors are once again grappling with what the prospect of higher- for-longer interest rates means for tech valuations that are back at levels exceeded only during the pandemic-era rebound and the .­com bubble.