Investing.com – Wall Street was mixed on Wednesday as markets struggle for direction after a global sell-off.
The S&P 500 was up six points or 0.23% to 2,701.40 as of 9:54 AM ET (14:5¢ GMT) while the Dow composite increased 91 points or 0.37% to 25,004.24, and tech heavy NASDAQ Composite was down eight points or 0.12% to 7,107.63.
U.S. indexes were swinging sharply yesterday after two days of sell-offs. The Dow started off lower, but rallied to close up 567.02 points at 24,912.77.
The market sell off started on Friday, after better than expected wage increases sparked concerns over increased interest rates. Some analysts have argued that the market swings are merely a market correction rather than a crash.
Snap Inc (NYSE:SNAP) was among the biggest gainers after the morning bell, rising 31.12% after it beat fourth quarter estimates. Meanwhile Tesla (NASDAQ:TSLA) gained 2.35% after one of Elon Musk successfully launched one of the Roadsters into space through his aerospace firm SpaceX. Twitter Inc (NYSE:TWTR)was up 3.18% while General Electric (NYSE:GE) rose 1.17% and Ford Motor (NYSE:F) jumped 1.44%.
Elsewhere Apple (NASDAQ:AAPL) dipped 1.08% while Facebook (NASDAQ:FB) was down 1.34% and Google’s Alphabet (NASDAQ:GOOGL) decreased 1.46%.
In Europe stocks rallied. In Germany the DAX rose 139 points or 1.12 % while France’s CAC 40 increased 59 points or 1.16% and in London the FTSE 100 gained 107 points or 1.50%. Meanwhile Spain’s IBEX 35 was up 83 point or 0.85% and the pan-European Euro Stoxx 50 inched up 40 points or 1.20%.
In commodities, gold futures fell 0.15% to $1,327.50 a troy ounce while crude oil futures rose 0.52% to $63.72 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, gained 0.20% to 89.70.