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Stock In Rebound Mode Again Wednesday -- U.S. Commentary

Stocks continued to rally Wednesday morning, further trimming brutal losses at the start of the week.

The DJIA has jumped 281 points, or 1.13%, to 25,198, fighting back from weakness at the opening bell thanks to bargain hunting and technical support. The Dow has jumped back above its 50-day moving average.

The S&P 500 is up 25 points, or 0.95%, to 2,720, while the Nasdaq is seeing a more modest advance, gaining 41 points, or 0.6 percent, to 7,158.

Markets threw a tantrum Monday amid concerns that rising inflation and upbeat economic growth will compel central bankers to end the era of so-called "easy money" by hiking interest rates ahead of schedule.

Still, with corporate earnings and economic fundamentals rather strong, investors are quickly moving back into equities.

In corporate news, Snap (SNAP) shares surged up 40 percent on better-than-expected earnings. Walt Disney Co.'s (DIS) strong quarter helped its stock up 1 percent.

Wynn (WYNN) added 10 percent after Steve Wynn resigned amid sex misconduct allegations.

On the other hand, Chipotle (CMG) was hammered despite meeting profit estimates.

by RTTNews Staff Writer

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