Buyers hit Wall Street, Nasdaq jumps 185 points, Dow Jones 48

NEW YORK, New York – Buyers were again in charge on Wall Street Wednesday, pushing all the major indices higher.

“We view this bullish breadth day as a sign that the summer rebound for U.S. equities can continue,” Stephen Suttmeier, technical research strategist for Bank of America, CNBC reported as saying in a note Wednesday.

Other analysts, however, were not so sure.

“History says, but does not guarantee, that yesterday was more likely a bear market bounce than the start of a new bull market,” Sam Stovall, chief investment strategist at CFRA Research told CNBC.

Technology stocks again led the way with the Nasdaq Composite rising 184.50 points or 1.58 percent to 11,897.65.

The Standard and Poor’s 500 climbed 23.21 points or 0.59 percent to 3,959.90.

The Dow Jones industrials added 47.79 points or 0.15 percent to 31,874.84.

The U.S. dollar, meantime, clawed back some of its recent losses. The euro slipped to 1.017 by the New York close Wednesday. The British pound dipped to 1.1973. The Japanese yen weakened to 138.23. The Swiss franc eased to 0.9721.

The Canadian dollar was a fraction lighter at 1.2879. The Australian dollar drifted down to 0.6885. The New Zealand dollar softened to 0.6227.

On overseas equity markets, the FTSE 100 in London fell 0.44 percent. The German Dax was down 0.20 percent. The Paris-based CAC 40 gave up 0.27 percent.

The Nikkei 225 in Japan rose 718.58 points or 2.67 percent to 27,680.26.

China’s Shanghai Composite gained 25.29 points or 0.77 percent to 3,303.72.

The Australian All Ordinaries surged 122.20 points or 1.78 percent to 6,975.20.

In New Zealand, the S&P/NZX 50 added 36.28 points or 0.33 percent to 11,199.01.

The Kospi Composite in South Korea firmed 15.88 points or 0.67 percent to 2,386.85.

In Hong Kong, the Hang Seng rose 229.16 points or 1.11 percent, to close Wednesday at 20,8901.22.