03.12.202517:36:56UTC+00US Stocks Rebound

On Wednesday, U.S. stock indices showed resilience as market participants anticipated an improved corporate environment in light of an expected interest rate cut by the Federal Reserve the following week. While the S&P 500 experienced modest gains, the Dow Jones Industrial Average jumped by over 300 points. The technology-focused Nasdaq 100, however, remained relatively unchanged. Speculation that the Fed will reduce rates by 25 basis points at its upcoming meeting grew stronger, particularly after ADP's data surprisingly indicated a dip in private-sector employment for November.

Defensive and traditional sectors within the stock market mainly saw upward movement. Notably, Wells Fargo and Citigroup each increased by approximately 2%, setting a positive tone for the banking sector. United Healthcare saw a 4% rise, leading gains among health insurance firms. Additionally, Marvell Technology rose by over 4% following a favorable datacenter growth forecast.

Conversely, Microsoft, which initially faced a sharp decline, scaled back some of those losses but still ended the day down by 2%. This dip was fueled by rumors that the company might reduce its sales personnel's quotas.