STORY: U.S. stocks rebounded from a three-day selloff Wednesday with a boost in sentiment from technology and chip stocks.
The Dow, S&P 500 and Nasdaq all rose more than one percent with the Nasdaq climbing 1.5%.
After the closing bell, Nvidia, which is the leading artificial intelligence chipmaker and the world's most highly valued company, forecast second-quarter revenue above Wall Street expectations.
:: Nvidia
It also announced an $80 billion share repurchase program.
The stock was marginally down in extended trading after finishing up more than 1% during the regular session.
Ryan Isherwood, founder and chief investment officer of Significance Capital, said investors are paying close attention to the numbers. He spoke before the results came out.
"As Nvidia goes, so goes the market. And we saw the last two earnings reports back in November and earlier this year, the market initially bid the stock up only to sell it off fairly aggressively. Now that was in the midst of a longer term corrective move in the markets. And we think that the market receiving this information well will be positive for the market. We believe the market's in a new uptrend and is embracing the AI theme very strongly.
And Nvidia as the leader of that."
Besides technology stocks, other big gainers Wednesday included consumer discretionary shares.
On the flip side, energy dropped along with oil prices.
Iran's foreign ministry spokesperson said the exchange of messages between Iran and the U.S. has continued.
President Donald Trump said negotiations with Iran were in the final stages and that the U.S. may have to attack Iran "very hard," but would wait and see if they can reach a deal.
Individual stocks on the move included Target, which lost nearly 4% after it warned of a challenging macroeconomic backdrop even as it doubled its annual sales growth forecast.
:: Archive
And homebuilder Toll Brothers jumped about 10% after raising its 2026 guidance and posting sales and profit in the second quarter that topped estimates.
