Wall Street's Mixed Bag: Tech Recovery and Tariff Tensions Shake Markets

Wall Street's main indexes saw modest gains amidst a volatile mix of stronger-than-expected private payrolls data and a legal dispute over U.S. tariffs. The positive jobs report failed to significantly change Federal Reserve policy expectations, while tech stocks rebounded following a sharp previous sell-off.

Wall Street's major indexes showed slight gains on Wednesday, driven by a stronger-than-expected private payrolls report and ongoing court proceedings over U.S. tariffs which boosted investor confidence. In contrast, technology stocks stabilized after experiencing significant selling pressures earlier in the week.

The report from ADP revealed that U.S. private payrolls saw a significant recovery in October. At the same time, growth in the services sector was noted by the Institute for Supply Management. These developments did not substantially influence the anticipated direction of the Federal Reserve's monetary policy.

Additionally, the Supreme Court faced challenging questions regarding the legality of broad tariffs implemented by President Trump's administration. Odds of a court ruling in favor of the tariffs decreased notably. Meanwhile, tech stocks like Nvidia and Broadcom bounced back significantly, boosting the Nasdaq and S&P 500.

(With inputs from agencies.)