U.S. stocks rallied on Wednesday, rebounding towards record highs after a mixed performance in the previous session. The Dow Jones Industrial Average gained 345 points, or 0.8%, closing at a new high of 43,077.70. The S&P 500 rose 0.5%, and the Nasdaq Composite increased by 0.3%. Nvidia led a rebound in chip stocks with a 3.1% jump, following Tuesday’s dip after ASML cut its 2025 sales forecast. Morgan Stanley’s quarterly earnings report exceeded expectations, boosting its shares by nearly 7%, while United Airlines rose 15% on strong quarterly results and an optimistic outlook for the end of 2024.

Despite some market volatility earlier in the week, overall investor sentiment remained positive. Around 50 S&P 500 companies have reported third-quarter earnings so far, with 79% beating analyst expectations, according to FactSet. Treasury yields also slightly decreased, with the 10-year yield falling to 4.01%.