Following the sell-off seen during Tuesday's session, stocks showed a substantial move back to the upside during trading on Wednesday. The major averages more than offset Tuesday's losses, with the Dow and the S&P 500 reaching their best closing levels in well over a month.
The major averages pulled back off their intraday highs going into the close but held on strong gains. While the Nasdaq spiked 469.85 points or 4.1 percent to 12,032.42, the S&P 500 surged 102.56 points or 2.6 percent to 4,023.61 and the Dow jumped 436.05 points or 1.4 percent at 32,197.59.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.