S&P 500 just shy of a record | Tesla jumps 13% | Stimulus talks 'miles apart'

Stocks rose as shares of the major tech companies recovered some of their steep losses from the previous session.

VIEW IN BROWSER | SUBSCRIBE WED, AUG 12, 2020 EVENING BRIEF AS OF WED, AUG 12, 2020 • 04:28 ET DJIA 27976.84 +1.05% +289.93 S&P 500 3380.35 +1.40% +46.66 NASDAQ 11012.24 +2.13% +229.42   Most Active DOW NAME LAST CHG %CHG AAPL 452.04 +14.54 +3.32% BA 175.44 -4.69 -2.60% INTC 49.19 +1.00 +2.08% S&P 500 NAME LAST CHG %CHG AMD 82.61 +5.73 +7.45% AAL 13.54 -0.19 -1.38% GE 6.72 -0.01 -0.15% NASDAQ NAME LAST CHG %CHG AMD 82.61 +5.73 +7.45% AAL 13.54 -0.19 -1.38% AAPL 452.04 +14.54 +3.32%   EDITOR'S NOTE Tech shares bounced back Wednesday, helping the S&P 500 resume its march toward record levels. Facebook, Amazon, Netflix and Google-parent Alphabet all rose sharply. Apple and Microsoft outperformed as well and were among the biggest contributors to gains by the Dow Jones Industrial Average. Wednesday's strong performance by Big Tech put the S&P 500 back within 1% of its intraday record of 3,393.52. It also briefly lifted the index above its closing record of 3,386.15 before some late selling caused the index to fall just short.  Those gains for tech seemingly came at the expense of shares that would benefit from the economy reopening. "There's a big debate happening in the market right now," said Yousef Abbasi, global market strategist at StoneX. "Does the tech outperformance continue? Or does hope around a vaccine, a better-than-expected Q2 earnings season and the hope the strong economic data continues to hold up start to justify the idea that some froth should probably come out of tech?" Wall Street is also facing massive uncertainty from Washington. On Wednesday, House Speaker Nancy Pelosi said both sides were still "miles apart" on coronavirus relief negotiations.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  S&P 500 rallies, closes just shy of its record closing high Tesla shares surge day after stock split announced Sumner Redstone, billionaire media tycoon, dead at age 97 No sign of stimulus deal in sight as Pelosi says Dems, White House are 'miles apart' Here's why Tesla shares are rising on a basically meaningless stock split Uber CEO says its service will probably shut down temporarily in California if it's forced to classify drivers as employees The surprise jump in prices may be a good sign for the economy, and it's not 'stoking the fires of inflation' GM facility to continue building ventilators after completing $489.4 million government contract Accuracy of U.S. coronavirus data thrown into question as decline in testing skews drop in new cases Ed Yardeni raises his S&P 500 forecast for 2020 and next year   TOP VIDEO WarnerMedia CEO: 'Not at all' worried about the success of HBO Max   CNBC PRO Goldman says buy quality stocks with strong balance sheets because the rest of 2020 is so uncertain   SPECIAL REPORTS As S&P 500 nears record, these six stocks are already at highs This payment stock could rally another 7% by next month, trader says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS