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Dow climbs over 600 points ahead of the close, Nasdaq leaders surge

Yahoo Finance's Ines Ferre looks at how markets settled on Wednesday afternoon.

Video transcript

SEANA SMITH: Just about two minutes here from the closing bell. Ines Ferre has a closer look at the rally that we're seeing. Hey, Ines.

INES FERRE: Hey, Seana. Yeah, and after Fed Chair Jerome Powell spoke today, well, the markets rallied. Take a look right now at the Dow. It is up 650 points. It was in negative territory earlier today. The NASDAQ composite, which had been hugging the flat line, up more than 4%, and the S&P 500 up 2.9% for the day.

Well, the sectors tell it all. The high growth stocks, those are the ones that have been seeing the gains. And the NASDAQ 100, you can look at Apple up 4 and 1/2%. Amazon also higher, as well as Alphabet Microsoft. Tesla up 7%. Over on the Dow, quite a bit of green, what we're seeing on the Dow. Just two lone ones in the red being Walmart and Triple M, 3M.

Also the sectors, as I mentioned, all 11 sectors of the S&P 500 are in the green. You've got technology that's leading, followed by communications services and consumer discretionary. Energy is in the green as well. Also, looking at the meme stocks, you're taking a look at also these rallying as well. Coinbase up 6%. You also have Palantir, Robinhood up as well. And the electric vehicles, I had mentioned Tesla earlier, up 7% for Tesla. But the rest of the electric vehicles also seeing green. And double digits for the Chinese EV stocks, like NIO.