FX.co ★ Dow, S&P 500 Poised To Snap Three-Day Losing Streaks

On Wednesday afternoon, stocks experienced a shift from an early rise to a mild reversal, but stayed largely positive. Predictions show that the Dow Jones Industrial Average and the S&P 500 may break their three-day streak of losses due to these gains. Currently, the Dow is 262.23 points higher (an increase of 0.7 percent) at 39,544.56, while the S&P 500 is 17.51 points higher (an increase of 0.3 percent) at 5,221.09.

At the same time, the tech-oriented Nasdaq index fluctuated between negative and positive throughout the day, but is currently 15.43 points higher, or an increase of 0.1 percent, at 16,331.13.

The market's resilience is attributed to traders seeking to buy stocks at slightly lower levels after the early buying interest subsided over the course of Tuesday. Despite spending most of Tuesday in the positive, pressure in the final trading hour resulted in the third consecutive decline for both the Dow and the S&P 500. Trading activity remained relatively low due to a lack of significant U.S. economic data, which has caused some traders to adopt a wait-and-see stance.

Traders may be exercising caution ahead of Thursday's reports on jobless claims, business activity in Chicago, and forecasted home sales. Simultaneously, the Federal Reserve will report on personal income and spending, including inflation indicators while markets are closed on Good Friday. The Federal Reserve's Chairman, Jerome Powell, is also scheduled to take part in a discussion at the Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference.

In sector news, gold stocks had a robust performance resulting in a 3.1 percent surge in NYSE Arca Gold Bugs Index, marking its best closing level in nearly three months. This rally is driven by an increase in gold prices, with gold for June delivery escalating $13.50 to $2,212.70 per ounce. Airline stocks also showed significant strength with a 2.1 percent rise in the NYSE Arca Airline Index.

Other sectors showing strength include utilities, commercial real estate, steel, tobacco, and banking. Computer hardware stocks continue to face downward pressure.

Meanwhile, in global markets, Wednesday's performance was mixed across the Asia-Pacific region. Japan's Nikkei 225 index rose by 0.9 percent, while China's Shanghai Composite Index and Hong Kong's Hang Seng Index fell by 1.3 percent and 1.4 percent respectively.

European stock markets mainly reported gains. The German DAX Index saw a rise of 0.5 percent, France's CAC 40 Index rose by 0.3 percent, and the UK's FTSE 100 Index finished just above the neutral mark. In the bond market, treasury bonds were in positive territory, resulting in a 4.0 basis points decline in the yield on the key ten-year note to 4.194 percent.