The Nasdaq Composite turned higher Thursday afternoon, with the U.S. stock market broadly rebounding as technology stocks traded well above their intraday lows.
The tech-heavy Nasdaq was up a modest 0.2% in late-afternoon trading, joining the Dow Jones Industrial Average and S&P 500 in positive territory. Eight of the S&P 500’s 11 sectors were moving higher, including sharp gains in healthcare, material, financial and consumer discretionary.
The Dow, S&P 500 and Nasdaq were bouncing back after all three indexes fell Wednesday amid fears that cracks were forming in the artificial-intelligence trade. The S&P 500’s tech sector remained down Thursday afternoon, with a 0.5% decline, but it was trading well off its session lows, FactSet data showed, at last check.