NEW YORK - Wall Street’s main indexes closed higher on Aug 25, as technology stocks recovered from a selloff ahead of AI heavyweight Nvidia’s results, while investors found some relief in drops in oil prices and bond yields.The gains could ease investor concerns sparked by a recent bond market rout that lifted yields and pressured equities. They could also help set the tone for September, a historically weaker month for stocks.Longer-dated Treasury yields fell on Aug 25 as oil prices dropped to a one-week low and traders continued to weigh the implications of Treasury Secretary Scott Bessent’s decision to expand Treasury buybacks.“There’s a lot of push and pull – in the bond market, geopolitics, oil,” said Joe Quinlan, head of market strategy for Merrill and Bank of America Private Bank.“But we’re pretty constructive on the outlook (for the) next 12, 18 months on the US economy; therefore, we are constructive on the markets as well.”Nvidia’s results on Aug 26 will be the next test for the earnings-driven rally.Any signs of slowing growth could reignite concerns about stretched valuations and how long the AI boom can sustain them.“This is the classic problem of being the epicentre of the buildout – when you are the trade, execution stops being a catalyst and becomes a prerequisite,” said Mark Malek, chief investment officer at Siebert Financial.Markets have grown wary of cyclical spending and the methods hyperscalers are using to fund their AI buildouts.According to preliminary data, the S&P 500 gained 23.76 points, or 0.31 per cent, to end at 7,676.62 points, while the Nasdaq Composite gained 165.28 points, or 0.64 per cent, to 26,145.47.The Dow Jones Industrial Average rose 155.75 points, or 0.29 per cent, to 53,572.91.Tech stocks recoverMost megacaps closed higher, including Nvidia, Meta and chipmaker Micron. The broader chips index recovered after a 2.7 per cent fall on Aug 24.Advanced Micro Devices rose after Raymond James upgraded the stock.Shares of biotechnology firm Moderna surged after Barclays hiked its target price.The target price increase on Aug 24 came days after Moderna and Merck reported late-stage trial results for their jointly developed skin cancer vaccine.Dick’s Sporting Goods cratered after the retailer cut its annual forecasts.Sportswear company Nike dipped.Target shares fell after the retailer apologised for and pulled a Halloween costume criticised for evoking “blackface”, renewing concerns about brand missteps just as its financial turnaround effort had begun to gain traction.The Personal Consumption Expenditures report on Aug 26 could provide greater clarity on price pressures after an in-line consumer inflation reading this month tempered bets on an imminent interest-rate hike by the US Federal Reserve.On Aug 25, a survey showed US consumer confidence fell in August to its lowest in seven months.Still, money market participants are pricing in one 25-basis-point rate increase by the end of the year, according to LSEG data.Against this backdrop, investors will watch Fed chairman Kevin Warsh’s Jackson Hole, Wyoming, speech on Aug 28 for clues on the central bank’s approach to monetary policy. REUTERS