Stocks surge as the tech selloff ends

Traders work on the floor of the New York Stock Exchange in New York U.S

The stock later pared its loses to end the day down 4.4 percent.

The S&P 500 increased 35.87 points, or 1.38 percent, to 2,640.87.

The S&P Energy index .SPNY posted the biggest loss of the 11 major S&P sectors, ending 1.99 percent lower as crude prices .LCOc1 fell after data showed a surprise build in USA stocks.

The S&P 500 index slipped 7.62 points, or 0.3% to 2,605, with six of its 11 main sectors ending in negative territory.

But worries that retaliatory tariffs would harm the global economy led investors to cut equity exposure to a four-month low in March and reduce holdings of USA stocks to the lowest in almost two years, according to a Reuters poll.

us stock markets will be closed on Friday due to the Good Friday holiday.

GameStop (GME.N) shares fell 10.8 percent after the company provided disappointing full-year sales forecast.

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For the holiday-shortened week, all three major indices posted solid gains, with the Dow, the S&P 500 and the Nasdaq jumping 2.4 percent, 2.0 percent and 1.0 percent, respectively.

This month, the Dow decreased 3.5 percent, the S&P fell 2.6 percent and the Nasdaq lost 2.9 percent.

Sandven said the market's first-quarter performance has tempered expectations for the rest of the year after the market's strong start in January. "It's entirely possible - likely, even - consumption will recover now that the saving rate has risen a percentage point from its recent low", said Chris Low, chief economist at FTN Financial, in a note.

The tech-heavy Nasdaq's .IXIC slim 0.66 percent rise is keeping it on course for its seventh straight quarter of gains.

Technology stocks, which were big decliners earlier in the week, powered much of the market's climb Thursday.

Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon shares and a continuing slide in technology stocks.

Facebook was among the gainers, its shares adding 4.4 percent. The watchmaker's stock jumped $5.20, or 15.7 percent, to $38.40.

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