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Nasdaq Surges Over 3%; Powell Industries Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 400 points on Wednesday. The Dow traded up 1.07% to 41,177.51 while the NASDAQ rose 3.10% to 17,678.79. The S&P 500 also rose, gaining, 2.08% to 5,549.42. Leading and Lagging SectorsInformation technology shares jumped by 4.3% on Wednesday. In trading on Wednesday, health care shares rose by just 0.1%. Top HeadlineMicrosoft Corporation (NASDAQ:MSFT) reported better-than-expected earnings and sales results for its fourth quarter on Tuesday. Intelligent Cloud segment revenue was $28.5 billion, up 19% year-over-year, while Azure and other cloud services revenue posted year-over-year growth of 29% last quarter. Equities Trading UP                        Powell Industries, Inc. (NASDAQ:POWL) shares shot up 40% to $186.83 after the company reported better-than-expected Q3 GAAP EPS and sales. Shares of Modine Manufacturing Company (NYSE:MOD) ...