The Nasdaq turned negative on Wednesday as investors rotated bets out of technology companies and into financials. The KBW Bank index <.BKX> jumped 7 percent.
The Dow and S&P 500 rose after private sector payroll data showed job losses slowed in April and hit their lowest level since November, a fresh sign the U.S. economy's worst days may be past. The other boost was strong earnings results from Walt Disney
The Dow Jones industrial average <.DJI> gained 45.40 points, or 0.54 percent, to 8,456.05. The Standard & Poor's 500 Index <.SPX> added 6.56 points, or 0.73 percent, to 910.36. The Nasdaq Composite Index <.IXIC> dropped 3.55 points, or 0.20 percent, to 1,750.57.
(Reporting by Chuck Mikolajczak; Editing by Padraic Cassidy)