S&P 500 rises as Wall Street tries to rebound from sell-off: Live updates

Futures-options traders work on the floor at the New York Stock Exchange’s NYSE American in New York City, U.S., October 22, 2025.
Brendan Mcdermid | Reuters
The S&P 500 rose on Thursday, boosted by those in the tech space, as investors attempted to regain their footing following Wednesday’s slide.
The broad market index climbed 0.3%, while the Dow Jones Industrial Average traded up 28 points, or 0.1%. The Nasdaq Composite outperformed, rising 0.5% with the support of gains in names such as Nvidia, Broadcom and Amazon.
The S&P 500’s move higher marks a change from the meaningful losses seen in the previous session, with the index falling roughly 0.5%. The Dow lost about 334 points, or 0.7%, while the Nasdaq declined 0.9% as investors rotated out of riskier assets.
Stocks had finished lower Wednesday after Treasury Secretary Scott Bessent confirmed the White House is mulling plans to curb exports to China made with U.S. software. Those plans would build on Trump’s statement almost two weeks ago that the U.S. will implement export restrictions by Nov. 1 on “any and all critical software.”
Investors are now continuing to watch earnings releases from the biggest U.S. companies, which many believe could be make-or-break for the current bull market rally. Tesla – which kicked off reports from the “Magnificent Seven” megacap tech group – saw shares dip 4% on the back of mixed third-quarter results. IBM shed 5% after the tech company beat Wall Street estimates but reported in-line software revenue.
More than 80% of the S&P 500 companies that have reported so far have exceeded earnings expectations, per FactSet.
Those on Wall Street are also monitoring a rise in oil prices after Trump administration imposed additional sanctions on Russia’s two biggest crude companies, Rosneft and Lukoil, due to the country’s “lack of serious commitment to a peace process to end the war in Ukraine.”
“Now is the time to stop the killing and for an immediate ceasefire,” Bessent said when announcing the new sanctions.
Trade remains in focus as well. President Donald Trump said Wednesday evening that his upcoming meeting with Chinese President Xi Jinping is “scheduled,” easing some fears about U.S.-China relations that had put markets under pressure on Wednesday.
Chris Grisanti, MAI Capital Management chief market strategist, advised traders to reallocate away from winners to pocket some gains after the broader market’s run-up this year, and instead favor less expensive pockets of the markets such as health care.
“I do think this is a particularly stressful point in the market … valuations are the second-highest they’ve been in a hundred years,” he told CNBC on Wednesday. “The market seems strong, you’ve got momentum, … but we still have these valuations.”
Grisanti added that he sees several similarities between the current landscape and the dot-com boom of the late 1990s.
“They say history doesn’t repeat itself, but it rhymes. I mean, this is rhyming pretty closely. … You’re getting meme stocks. You’re also starting to get companies that are getting priced on 2030 or 2035 projections,” he said. “These are things that we saw in ’98 and ’99, and it’s just spooky.”