Tech and Consumer Stocks Drive Market Rebound Amid Mixed Earnings

U.S. equities regained momentum Wednesday as technology stocks clawed back Tuesday's losses. The S&P 500 found particular strength in data storage providers, with Seagate Technology (STX) surging after announcing a $500 million debt exchange agreement. Western Digital (WDC) joined the rally, underscoring renewed appetite for hardware plays.

McDonald's (MCD) served up a bullish surprise as U.S. same-store sales outperformed expectations, propelling shares upward. The fast-food giant's resilience contrasts with Zimmer Biomet's (ZBH) struggles—the medical device Maker tumbled after trimming forecasts due to softening international demand.

Home improvement sector headwinds weighed on Trex (TREX), with the decking materials specialist slashing guidance amid declining renovation spending. Meanwhile, Pinterest (PINS) stumbled after disappointing profit figures, highlighting ongoing challenges for social media platforms in monetizing visual search.

Targa Resources (TRGP) emerged as an unexpected standout, riding record Permian Basin volumes to a dividend boost. The energy sector's strength adds another dimension to a market searching for leadership beyond megacap tech.