S&P 500 Retakes 4000; Chip Stocks Lead, Warren Buffett Stock Rises On Record Sales

The Dow Jones Industrial Average climbed 0.8% at 1:30 pm to reach session highs. ET on Wednesday, as stocks remained steady. Intel (INTC), the leader in blue-chip stocks, was Intel.

The S&P 500 increased by 1.2%, and it now exceeds the crucial 4000 level. All S&P sectors were up. The index is trying hard to regain its 50-day average. Paychex, a payments company (PAYX), led the S&P 500 with 6% gains.

Lululemon's (LULU) help helped the Nasdaq gain 1.5%. Stocks surged following strong earnings. The tech index is still above its 50-day line, but it has not yet regained its recent high (12269.56).

Volumes on the NYSE and Nasdaq rose compared to Tuesday's same time.

Small-cap Russell gained 0.5%.

Crude oil traded at $73.44 per barrel, a slight gain.

The yield on the benchmark Treasury 10-year note was virtually unchanged at 3.56%.

Dow Jones Stocks

Microsoft (MSFT), meanwhile, is now back in the buy zone over a entry of 276.86. Shares of Intel have also risen above their 200-day level. Apple (AAPL), which is building a base, is currently testing resistance at 160. McDonald's (MCD), with its 281,77 entry, is also building a long-base.

Stocks moving today: Chip stocks gain

The top chip stocks on Wednesday were Rambus (RMBS). Rambus (RMBS), which is a semiconductor company, rose in volume above its purchase point of 33.85. The relative strength line reached new heights.

Aehr Test System (AEHR) is attempting a breakout at 37.67 after a consolidation. Lam Research (LRCX), a research company, has risen above its 50-day level. The shares are flat with a purchase point of $548.95.

After a solid fourth quarter, shares of Tesla's rival Byd (BYDDF), rose. Warren Buffett's stock rose following signs that Byd, a Chinese electric vehicle maker, is easing off of the price war Tesla started earlier this year.

BYD reportedly accounted for 41% of the "new energy" vehicle sales in the largest auto market in the world in January and Febraury, while Tesla only accounted for 8%.

BYD shares test potential resistance near their 50-day line, as they build up a base at a purchase point of 34.04.

Workday (WDAY), broke out from a flat basis with a purchase point of 193.74.

After today's rally of 3.5%, solar stock NexTracker is also in a "buy" zone. It is trading at 33.05 from its IPO entry.

Skyline Champion is establishing a base at a price of 73.50. The relative strength line for modular home builders is also nearing a new 52-week high. SKY appears on the IBD Leaderboard.

According to the National Association of Realtors, pending home sales increased 0.8% in February despite increasing interest rates.

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