Stocks surged in late trading Wednesday, recovering from steep early-session losses that followed a government report showing a contraction in the U.S. economy, as investors awaited earnings releases from several major technology companies.

U.S. stocks advance, boosted by strong earnings from Meta and Microsoft. But Apple and Amazon slip after the bell on quarterly report.

The S&P 500 and Dow Jones Industrial Average added another win to their respective piles Thursday. Tech stocks rallied the most thanks to a round of well-received earnings, which helped the Nasdaq Composite outperform.