MARKET SNAPSHOT: Stocks Rebound After 3 Days Of Losses

By Carla Mozee, Victor Reklaitis and Anora Mahmudova, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks rose on Wednesday, rebounding after a losing streak that's been blamed in part on worries about global growth and Mideast fighting.

Investors were waiting for speeches by Federal Reserve officials later in the day. A stronger-than-expected report on new-home sales may have contributed to late-morning gains.

The S&P 500(SPX) gained 10 points, or 0.5%, to 1,992.83. Energy performed worst among the S&P's 10 sectors, while health care fared best. The benchmark has closed lower for three days in a row, pulling back from last Thursday's record close.

The Dow Jones Industrial Average(DJI) added 90 points, or 0.5%, to 17,143.85. The blue-chip gauge has finished lower for two straight days, retreating from its record close Friday.

Meanwhile, the tech-heavy Nasdaq Composite (RIXF) added 31 points, or 0.7%, to 4,539.35, while the small-cap Russell 2000 (RUT) -- which has lagged behind the other indexes this month and this year -- gained 5 points, or 0.5%, to 1,124.12.

(Read more in Need To Know: Investors, media fixated on imploding small-cap stocks http://www.marketwatch.com/story/gold-10000-and-why-golden-is-worse-than-death-when-it-comes-to-crosses-2014-09-24.)

Trading rebound: The main indexes advanced to their session highs out of the gate Wednesday. Wednesday's early advance may have been more of a trading rebound than anything else, said Colin Cieszynski, chief market strategist at CMC Markets.

"Economic news flow has been light," he said in a note, adding that "monetary policy direction (more dovish in Europe, more hawkish in the US) hasn't really changed."

Today's key economic news: The Commerce Department said sales of new single-family homes surged 18% in August to a seasonally adjusted annual rate of 504,000, the fastest pace in more than six years. Economists polled by MarketWatch had expected a sales rate of 426,000.

Investors were awaiting hints on Wednesday afternoon about the Federal Reserve's timetable for raising interest rates.

Cleveland Fed President Loretta Mester, a voting member of the central bank's policy committee this year, is due to speak at 12:15 p.m. Eastern. Her speech may deliver "the most potentially significant news of the day," Cieszynski said.

Chicago Fed President Charles Evans, who will be a voting member on the rate-setting panel in 2015, is expected to speak at 1 p.m. Eastern.

Movers and shakers: Bed Bath & Beyond (BBBY) shares climbed more than 7.5% to lead the S&P 500 after the home-furnishings retailer late Tuesday posted better-than-expected quarterly earnings.

Accenture (ACN) shares fell 1% after the consulting firm issued a cautious outlook for its next fiscal year.

(Read more in the Movers & Shakers column http://www.marketwatch.com/story/bed-bath-beyond-kb-home-jabil-likely-in-focus-2014-09-24.)

Other markets: Japan's Nikkei Average shed 0.2%. Meanwhile, the dollar fell against the yen (USDJPY) after Japan's prime minister said he's cautious about the yen's recent weakness.

European stocks mostly gained after initially wavering following a sluggish reading on German business confidence. Gold futures (GCZ4) dipped, and oil futures(CLX4) also declined.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires