Following unexpectedly strong retail sales data for January, stocks soared into Wednesday’s close to conclude the day higher.
The Dow Jones Industrial Average gained 39 points, or 0.11%, rising more than 250 points from its intraday low.
SolarEdge and Generac gained 9.05% and 8%, respectively, to contribute to the 0.25 percent increase in the S&P 500. The Nasdaq Composite jumped 0.92%, lifted by shares of Airbnb, which surged 13.35% after surpassing earnings estimates. Gains in Tesla, Rivian, and Lucid also contributed to the index’s advancement.
All three indexes are currently poised for weekly gains. The Dow is currently up 0.76 percent week-to-date, while the S&P 500 and Nasdaq are up 1.40 percent and 3.01 percent, respectively.