Tech Stocks Help US Markets To Rebound

Wall Street stocks finished a volatile session solidly higher on Tuesday, recovering some of the prior day's losses, powered by strong gains by Tesla, Amazon and other tech companies.

After a bruising start to the second quarter on Monday, US stocks benefited from bargain-hunting and hopes the upcoming earnings period would shake the market out of its current anxiety over trade policy and technology industry problems.

The Dow Jones Industrial Average jumped 1.6 percent to finish at 24,033.

The broad-based S&P 500 advanced 1.3 percent to 2,614, while the tech-rich Nasdaq Composite Index rose 1.0 percent to 6,941.

Quincy Krosby, chief market strategist at Prudential Annuities, said that during the next earnings period investors would be looking not only at financial performance but at how executives gauge the odds of a trade war.

"The market does need a catalyst to regain its footing," she said.

Tesla Motors shot up 6.0 percent after reporting that it reached weekly production of about 2,000 Model 3 sedans at the end of the first quarter -- still below its 2,500 target, but "exponentially" better than previously, the company said.

Amazon also pushed higher, winning 1.5 percent as investors greeted headlines that suggested President Donald Trump did not plan to follow up a series of irate tweets with concrete action against the company.

Other large technology companies also enjoyed gains, including Facebook, Google parent Alphabet and Intel. (AFP)