Today's Market: Nasdaq Climbs With Nvidia, Broadcom, Amazon Driving Early Rally

Oct 23 - U.S. stock markets edged higher Thursday as investors attempted to recover from Wednesday's broad declines.

The S&P 500 rose about 0.3%, while the Dow Jones Industrial Average gained roughly 28 points, or 0.1%. The Nasdaq Composite outperformed, climbing 0.6% on strength from tech names including Nvidia NVDA, Broadcom AVGO and Amazon (AMZN).

Markets had fallen Wednesday after Treasury Secretary Scott Bessent said the White House is considering new export limits on U.S. software to China. Investors also weighed mixed earnings reports from major companies. Tesla TSLA fell nearly 2% after reporting strong automotive sales but slightly lower earnings than expected, while IBM IBM slipped 5% despite beating revenue estimates.

More than 80% of S&P 500 firms reporting so far exceeded expectations, according to FactSet. Earnings overall are likely strong enough to keep stocks supported in the near term, said Emily Bowersock Hill of Bowersock Capital Partners.

Energy markets also influenced trading as oil prices jumped over 5% after the Trump administration imposed additional sanctions on Russian oil giants Rosneft and Lukoil. Trade optimism emerged after President Donald Trump confirmed his scheduled meeting with Chinese President Xi Jinping.

Meanwhile, existing U.S. home sales in September rose to a seven-month high, and gold prices rebounded roughly 1.3%, reflecting shifting investor sentiment.