Seeking Alpha

Stocks snap three-session skid, techs lead Nasdaq higher

Stocks edged higher after their three-day losing streak, led by the Nasdaq as investors moved in to seek recently hammered social media and Internet shares.

Momentum names provided support to the consumer discretionary and tech sectors, drawing strength from the likes of Amazon, Netfilx, Google and LinkedIn; biotechs continued weak, and utilities were the day's top performing sector.

Earnings season begins with Alcoa's report today; few analysts expect outstanding Q1 results, but outlooks for Q2 could surprise to the upside as companies may say their businesses improved along with the weather at the end of Q1.

Treasurys prices rose through a solid three-year note auction; the benchmark 10-year yield fell 3 bps to 2.68%.

Crude oil surged 2.2% to $102.60, while gold and copper also posted gains.

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