Stock Market Update

[BRIEFING.COM] Stocks are putting together a much-needed rebound session, with the S&P 500 (+1.4%), Nasdaq Composite (+1.5%), and DJIA (+1.8%) all firmly higher as tech names lead broad strength. After testing the $60,000 mark overnight, Bitcoin has rebounded around 11% today, back above $69,000.

Nine S&P 500 sectors trade higher, with the information technology sector (+3.2%) garnering some strong buy-the-dip interest after sizable losses in previous sessions that still leave it 2.0% lower for the week. 

NVIDIA (NVDA 183.69, +11.81, +6.87%) is a mega-cap standout, and the PHLX Semiconductor Index is 4.9% higher.

The Invesco S&P 500 High Beta ETF (+3.5%) is also outperforming, underscoring a rotation back into higher-growth, higher-risk areas of the market after three straight sessions of defensive positioning.

Even with Amazon (AMZN 204.86, -17.83, -8.01%) tumbling on an EPS miss and concerns over massive capital expenditure plans—and Alphabet (GOOG 323.10, -8.23, -2.48%) extending losses following a similarly large capex outlook—the Vanguard Mega Cap Growth ETF is still higher by 1.4%.

Meanwhile, the Russell 2000 (+2.7%) and S&P Mid Cap 400 (+2.5%) are posting even stronger gains, reflecting a broader resurgence in growth stocks.