The S&P 500 and the Dow Jones indexes rose on Wednesday, with sectors such as energy and financials recovering some of their losses in recent sessions, although a slowing economic recovery and uncertainty over higher taxes kept sentiment subdued.
The S&P 500 (.SPX) rose from a more than three-week low, while the Dow (.DJI)came off a near two-month trough. Economically sensitive sectors such as energy were the best performers in early trade, rising 3.4% as oil prices gained on data showing a more significant than expected drawdown in U.S. crude inventories.
Financial stocks, particularly big banks, also rose 0.6% after widely underperforming their peers on Tuesday. The Nasdaq lagged its peers on losses in major technology stocks. But the index has fared relatively better than its peers this month, with investors switching to reliable tech heavyweights amid seasonally weak trends for stocks.
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