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U.S. stocks rebound on tech bargain hunting; Dow gains 0.06%

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Investing.com -

Investing.com - U.S. stocks bounced back on Tuesday after three days of heavy losses, as bargain hunters snapped up nicely priced tech stocks that took a beating on concerns U.S. equities are due for a correction.

At the close of U.S. trading, the Dow 30 ended the session up 0.06%, the S&P 500 rose 0.38%, while the Nasdaq rose 0.81%.

Investors sold off technology stocks for three consecutive sessions and jumped to the sidelines to await first-quarter earnings, though by Tuesday, bottom fishers saw attractively-priced shares and sent indices back into positive territory.

Social media icon Facebook Inc (NASDAQ:FB) closed up 2.18%, while search engine giant Google Inc (NASDAQ:GOOGL) rose 3.12%.

Gains were somewhat limited over uncertainty surrounding first-quarter earnings.

After the closing bell, metals giant Alcoa Inc (NYSE:AA) reported first-quarter earnings of $0.09 per share and $5.45 billion in revenue.

Analysts were expecting earnings of $0.05 a share on $5.55 billion in revenue.

Leading Dow Jones Industrial Average performers included Nike Inc (NYSE:NKE), up 2.93%, Intel Corporation (NASDAQ:INTC), up 1.68%, and Caterpillar Inc (NYSE:CAT), up 1.26%.

The Dow Jones Industrial Average's worst performers included Goldman Sachs Group Inc (NYSE:GS), down 1.25%, Boeing Company (NYSE:BA), down 1.15%, and Pfizer Inc (NYSE:PFE), down 0.98%.

European indices, meanwhile, finished lower.

After the close of European trade, the DJ Euro Stoxx 50 fell 0.35%, France's CAC 40 fell 0.25%, while Germany's DAX 30 fell 0.21%. Meanwhile, in the U.K. the FTSE 100 fell 0.49%.

On Wednesday, the Federal Reserve will release the minutes of its March policy meeting, and markets will move if the document contains a clearly visible weather vane pointing to the direction of U.S. monetary policy.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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