Stocks were rallying again on Wednesday, but some investors seemed to take money off the table and gains slipped at midday. Nine of 11 S&P 500 sectors were higher on the day, led by Communication Services and Technology stocks. These sectors have powered much of the market’s overall gains in 2025.
Google parent Alphabet was among the top Communications stocks. Advanced Micro Devices was among the top Technology stocks, up more than 7.7% to $235, a day after saying it would deploy more than 50,000 GPU chips to Oracle in 2026 to power its artificial intelligence offerings.
Bank earnings continued to impress investors. Investment bank Morgan Stanley’s results were especially strong, and the shares were up 5.7% to $164. Bank of America was up 5.6% at $52.30.
Wednesday Reading:.
Worries about trade disputes with China were still an issue, and the Trump administration was trying to put a positive spin on the issue. President Trump is still expecting to meet Chinese President Xi Jinping later this month in South Korea.
The 10-year bond yield, a key determinant of mortgage rates, was at 4.04% after briefly dropping under 4%. Mortgage rates are around 6.3%, a level that’s produced buying in housing-related stocks.
Crude oil was down 43 cents to $58.28 a barrel in New York. The U.S. national price of gasoline is $3.067 a gallon, per AAA, down from $3.115 a week ago.
TurboTax Via TheStreet
-- Charley Blaine
