Market Wrap: 

S&P 500 jumped 1.1% to 5,842 as bulls came roaring back Wednesday. Dow gained 485 points (+1.1%) while Nasdaq climbed 1.5%.

The afternoon rally gained steam after Trump announced a one-month auto tariff exemption for USMCA countries. Stocks also found support from the Fed's Beige Book noting slight economic growth and S&P 500 holding above its 200-day MA (5,728).

Mega caps led the charge with Microsoft surging 3.2% and NVIDIA adding 1.1%. The Vanguard Mega Cap Growth ETF (MGK) reversed an early 0.8% decline to finish +1.5%.

Seven S&P sectors gained >1% while only Energy (-1.5%) and Utilities declined. Oil prices slumped 3% to $66.27/bbl on demand concerns.

Economic data was mixed: ISM Services beat (53.5% vs 53.0% expected) but ADP Employment disappointed (77K vs 145K consensus).

$SPY $QQQ $DIA $MSFT $NVDA