The Dow Jones Industrial index ended Tuesday down 92.63 points at 40,736.96.
The broader index recovered 24.47 points to 5,495.52.
The NASDAQ recovered in a big way, sprinting 141.28 points to 17,025.88.
Nvidia traded up by 0.8%, cooling slightly after rising more than 2% at its high of the day. Alphabet, AMD and Microsoft were also higher.
Tech stocks have been struggling of late, as concern over the state of the economy grows, leading investors to dump high-flying tech names.
Bank stocks also put pressure on the broader market. Shares of JPMorgan fell more than 5% after the company offered cautious commentary on net interest income in 2025 at an industry conference. JPMorgan was also the biggest decliner in the 30-stock Dow.
On the earnings front, cloud platform company Oracle surged nearly 12.5% after posting fiscal first-quarter results that topped expectations and announcing a partnership with Amazon Web Services to provide database services.
Investors are also betting that a widely anticipated interest rate cut at the Federal Reserve’s Sept. 17-18 meeting could help assuage concerns over a weakening economy.
Traders have their eyes on two key economic reports that will likely be the next catalysts for stocks. The consumer price index report for August is due out Wednesday, followed by the producer price index on Thursday.
Prices for the 10-year Treasury jumped, lowering yields to 3.65% from Monday’s 3.71%. Treasury prices and yields move in opposite directions.
Oil prices retreated $2.55 to $66.16 U.S. a barrel.
Gold prices brightened $12.50 to $2,545.20.
Investors Try to Shake Sept. Doldrums