|I:COMP||NASDAQ COMPOSITE INDEX||12131.131075||+390.48||+3.33%|
The S&P 500 and Nasdaq Composite curbed losses and rose by 0.8% and 1.3%, respectively, while the Dow Jones Industrial Average rose over 370 points or 1.06% led by Amgen after the biotech giant announced a $6 billion share buyback.
|I:DJI||DOW JONES AVERAGES||33212.96||+575.77||+1.76%|
10-YEAR TREASURY HITS 1.95% - NEW 52-WEEK HIGH
Financials rose as the 10-year Treasury rose to 1.95%, a new 52-week high.
|WFC||WELLS FARGO & CO.||45.89||+0.29||+0.64%|
|BAC||BANK OF AMERICA CORP.||37.02||+0.32||+0.87%|
|JPM||JPMORGAN CHASE & CO.||131.27||+1.83||+1.41%|
In shake-up news, Peloton sidelined CEO John Foley amid the company's turmoil. The stock curbed losses ending with a gain of over 26%.
He will move to the role of executive chair, replaced by Barry McCarthy. The company also slashed its revenue outlook to $3.8 billion from as much as $4.8 billion. Additionally, the cycling giant will cut 2,800 jobs.
|PTON||PELOTON INTERACTIVE INC.||14.51||+0.61||+4.39%|
In recent days, speculation swirled that the company is a takeover target, with as many as five possible suitors, including Amazon, Nike, Apple, Disney and Sony, according to multiple reports.
|DIS||THE WALT DISNEY CO.||109.32||+3.71||+3.51%|
|SONY||SONY GROUP CORP.||92.26||+1.72||+1.90%|
In other deal news, Nvidia and SoftBank's ARM called off their record $80 billion merger, citing "significant regulatory challenges," according to Nvidia.
Facebook was also on the radar after board member Peter Thiel announced he plans to step down.
|FB||META PLATFORMS INC.||195.13||+3.50||+1.83%|
In earnings news, Pfizer shares slipped after it forecast sales from its COVID-19 vaccine will be around $32 billion, slightly below estimates.
And food chain Chipotle Mexican Grill will release earnings after the closing bell.
|CMG||CHIPOTLE MEXICAN GRILL INC.||1,402.42||+61.51||+4.59%|
On the economic front, Thursday's report on consumer prices will be closely watched as those are expected to tick up to 7.3% vs. 7% from December.
In commodities, oil closed down over 2% to $89.36 per barrel.
In cryptocurrencies, Bitcoin hovered above the $40,000 level.