There are rare days in the market when almost everything goes up and Wednesday was one of them. The strong follow-through in the premarket from Tuesday’s session had investors in the “buying” mode and the only thing that stopped it was the closing bell.
Off the open of the regular session, the index hardly gave an indication that it was not going to surrender much of the premarket gains. The index easily cleared the premarket high and kept on going.
Interestingly, the index returned to the exact same area that it was last Wednesday before it was submarined by Meta Platforms’ (NASDAQ: FB) disappointing Q4 report. The S&P 500 index’s close, which was the highest close for the recent rebound, added 65.25 handles to end the session at 4575.75
Nvidia Corp (NASDAQ: NVDA), after a long hiatus, returned to be the biggest gainer of the top components of the index. The issue extended its winning streak to four sessions by adding $15.97 or 6.4% to close at $267.05.
That was over triple the cash index’s gain of 1.45%.
The biggest and only loser of the top components was Johnson & Johnson (NYSE: JNJ). It was only down a fraction, declining two pennies to $171.49.