US stocks bounced back on Wednesday after retreating a day prior, while earnings season was off to a relatively positive start.

The Dow Jones gained 0.8 percent to 43,077, while the S&P 500 Index added 0.5 percent to 5,842.

The Nasdaq advanced 0.3 percent, closing at 18,367.

Stocks picked up towards the end of the day as investors sought to "buy the dip," said Jack Ablin of Cresset Capital.

"Also, the nuclear stocks are going crazy on the Amazon announcement," he added.

Tech giant Amazon announced significant investments in nuclear energy on Wednesday, joining other major companies in aiming to meet the high electric power demands of artificial intelligence using atomic energy.

Its shares closed 0.4 percent lower.

Among companies that reported financial results this week, Morgan Stanley beat estimates with its third quarter report on Wednesday – after quarterly results from Goldman Sachs showed a jump in profits a day earlier.

Morgan Stanley chief executive Ted Pick said the bank saw a "strong third quarter in a constructive environment," and its shares closed 6.5 percent up.

There is "not a lot of conviction after yesterday's chipmaker-led declines," noted Briefing.com on Wednesday.

Dutch tech giant ASML saw its shares plunge after it unveiled a cut to its 2025 guidance and slump in sales bookings, sending share prices of other firms falling on Tuesday.

While Nvidia recovered some ground on Wednesday, with its shares up 3.1 percent, ASML and AMD both logged declines still. (AFP)