Snapback day. Major indices close higher after trading sharply lower earlier in the day.

Major US stock indices had a snapback day, and what a snapback day it was.

• The Dow industrial average was lower by 743.89 points, but is closing up 124.75 points or 0.31% at 40861.71. At one point today all the Dow stocks were trading lower.
• The S&P was down -88.56 points but is closing higher by 58.60 points or 1.07% at 5554.12
• The NASDAQ index was down -238.04 points, and is closing up 369.65 points or 2.17% at 17395.53.

The Russell 2000 is closing up 6.41 points or 0.31% at 2103.84, but was down over -38.75 points at session lows.

Nvidia moved sharply higher after CEO Jensen Huang spoke positively at a Communicopia conference today. It’s shares are closing up $8.68 or 8.03% at 116.78.

SMCI is taking off it’s recent problems and rose $32.44 or 7.86% to $445.16

IBM hit a record high for the first time in a decade up 2.13% on the day at $209.

• Broadcom rose $10 or 6.75% to $158.21
• Micron rose $3.80 or 4.38% to $90.65.
• AMD rose 7 dollars or 4.90% to $149.84
• Intel is up $0.68 or 3.56% at $19.66
• Arm Holding is closing up $13.10 or 10.30% at $140.32.

A solid snapback day for the major stocks

This article was written by Greg Michalowski at www.forexlive.com.