S&P 500 bounces back following two straight days of losses tied to Fed; European markets close slightly lower as bond yields cool; Volvo shares fall over 8% 
Stocks rebounded on Thursday, following back-to-back losing sessions, as investors reassessed the Federal Reserve’s latest plans to tighten monetary policy and combat rising inflation. 
The Dow Jones Industrial Average rose 87.06 points, or 0.25%, to 34,583.57 after dropping as much as 300 points earlier in the session. The S&P 500 advanced 0.43% to 4,500.21, and the Nasdaq Composite inched up 0.06% to 13,897.30 following two straight days of losses. 
Defensive names like consumer staples and health-care companies led Thursday’s market comeback as investors continued their search for stocks with stable earnings and dividends. Costco rallied nearly 4%, while Pfizer popped 4.3%. Walmart, Merck, UnitedHealth Group and Procter & Gamble also notched gains for the day. 
Constellation Brands and Lamb Weston Holdings jumped 4.6% and nearly 8%, respectively, after reporting earnings. 
On the tech front, Tesla gained 1.1%, while Twitter fell 5.4%. Shares of HP Inc surged about 15% after Warren Buffett’s Berkshire Hathaway disclosed a stake in the tech hardware maker. 

The pan-European Stoxx 600 provisionally ended down 0.25% as U.S. Treasury yields slipped from multi-year highs after four days of inclines. Oil and gas stocks shed 1.9% to lead losses, while healthcare stocks rose 1.4%. 
In corporate news, Shell has announced that it will write off between $4 and $5 billion in the value of its assets after pulling out of Russia following the country’s unprecedented invasion of Ukraine. n terms of individual share price movement in Europe, Swedish carmaker Volvo fell 8.5% after JPMorgan cut its target price. 
Source: CNBC, Investing.com