Stocks moved notably higher at the start of trading on Wednesday, regaining some ground after ending the previous session firmly in the red. The major averages jumped into positive territory but have not seen much follow-through on initial upward move.
The major averages have pulled back off their highs for the young session but are currently holding on to moderate gains. The Dow is up 66.80 points or 0.4 percent at 15,188.82, the Nasdaq is up 10.54 points or 0.3 percent at 3,447.49 and the S&P 500 is up 7.05 points or 0.4 percent at 1,633.18.
The initial strength on Wall Street came as some traders looked to pick up stocks at somewhat reduced levels following the weakness that was seen on Tuesday.
Trading activity has remained relatively subdued, however, with some traders staying on the sidelines amid another quiet day on the U.S. economic front.
The economic calendar will finally pick up in the last two days of the week, with traders likely to keep a close eye on reports on retail sales, weekly jobless claims, and industrial production.
Healthcare provider stocks have shown a strong upward move in early trading, driving the Morgan Stanley Healthcare Provider Index up by 1.6 percent. The gain extends a recent rally by the index, which has risen to a record high.
Pharmaceutical, semiconductor, and software stocks are also seeing early strength, while most of the major sectors are showing more modest moves to the upside.
Among individual stocks, shares of Rambus (RMBS) are seeing significant strength after the chipmaker settled a long-standing patent dispute with South Korean chipmaker Hynix. The settlement calls for Hynix to pay Rambus $240 million over the next five years.
St. Jude (STJ) is also turning in a strong performance after the medical device maker said the FDA has approved its next-generation Ellipse and SJM Assura portfolio of implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators.
On the other hand, shares of First Solar (FSLR) have come under pressure after the solar power company said it commenced an underwritten public offering of 8.5 million shares of its common stock. The company said it intends to use the net proceeds from the offering for general corporate purposes.
In overseas trading, stock markets across the Asia-Pacific region saw some further downside after coming under pressure in the previous session. Japan's Nikkei 225 Index edged down by 0.2 percent, while Australia's All Ordinaries Index fell by 0.7 percent.
Meanwhile, the major European markets have turned mixed on the day. While the German DAX Index is down by 0.1 percent, the U.K.'s FTSE 100 Index is up by 0.1 percent and the French CAC 40 Index is up by 0.4 percent.
In the bond market, treasuries have moved back to the downside after turning higher over the course of Tuesday's trading. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.6 basis points at 2.221 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.