USA stocks rallied on Thursday, the last trading day of the month and the quarter, as the technology sector curbed steep declines seen in recent sessions.
The Dow is down 2.5 percent for the year, while the S&P 500 is off 1.2 percent.
The S&P Energy index .SPNY posted the biggest loss of the 11 major S&P sectors, ending 1.99 percent lower as crude prices .LCOc1 fell after data showed a surprise build in us stocks.
USA stocks rebounded strongly on Thursday as investors digested a batch of generally positive economic reports.
US equity markets closed lower on Wednesday, as continued weakness in the technology sector weighed on the main indexes.
Wall Street surged on Thursday, bringing an upbeat end to a tumultuous, holiday-shortened week as technology stocks rebounded, but the S&P 500 and the Dow Jones Industrial Average posted their biggest quarterly declines in more than two years. GDP expanded at a 2.9 percent annual rate in the last three months of 2017, ahead of the previously reported 2.5 percent.More news: Kamal Haasan meets Christopher Nolan
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Sandven said the market's first-quarter performance has tempered expectations for the rest of the year after the market's strong start in January.
The heaviest losses occurred on the Nasdaq, as the tech-heavy index lost 0.9%, battered by more negative headlines. "It's entirely possible - likely, even - consumption will recover now that the saving rate has risen a percentage point from its recent low", said Chris Low, chief economist at FTN Financial, in a note.
The major indexes were headed higher from the start of trading Thursday as investors sized up several company earnings reports and new government data showing that spending by USA consumers rose 0.2 percent in February, while their incomes increased 4.4 percent. (NFLX) dropped more than 4%, as investors continued to dump high-flying technology stocks.
Facebook was among the gainers, its shares adding 4.4 percent.
US stocks rose on Thursday as technology shares recovered some lost ground in a roller coaster week for Wall Street.
Solid results and a better-than-expected outlook also gave Movado Group shares a lift.