Wall Street Advances as Markets Rebound Following Tech-Driven Sell-Off; Robust ADP Jobs Data Boosts Sentiment

US equities climbed on Wednesday, recovering from the tech-led decline in the previous session, as several American companies continued to report their quarterly earnings. Encouraging ADP employment data helped ease concerns over a potential slowdown in the labour market. According to ADP’s monthly employment report, private-sector hiring in the US increased by 42,000 jobs in October. At 10:02 a.m. ET, the Dow Jones Industrial Average was up 109.06 points (0.23%) at 47,188.36, while the S&P 500 advanced 18.62 points (0.27%) to 6,790.17, and the Nasdaq Composite climbed 105.87 points (0.45%) to 23,454.51. Earlier, at 9:48 a.m. ET, the S&P 500 edged up 0.1%, the Dow added 0.1%, and the Nasdaq gained 0.3%. In the bond market, the yield on the 10-year US Treasury note rose to 4.12%, up from 4.09% late Tuesday.