S&P 500, Nasdaq close higher Wednesday, regaining some ground from recent sell-off: Live updates
Traders work on the floor of the New York Stock Exchange during morning trading on Feb. 29, 2024.

Stocks rose Wednesday, with the market turning a corner following back-to-back losing sessions on Wall Street.

The S&P 500 added 0.51% to 5,104.76, while the Nasdaq Composite gained 0.58% to 16,031.54. The Dow Jones Industrial Average traded higher by 75.86 points, or 0.2%, to close at 38,661.05. The blue-chip average was weighed down by a drop of more than 2% in Disney .

Wednesday's advances mark a reprieve after the three major averages notched two straight days of declines, pulling the market off record highs. But gains were kept in check as Apple fell into the red once again and concerns swirled around a troubled regional bank.

While the Nasdaq saw gains Wednesday, some major tech names sat out of the rally. Apple fell for its sixth straight trading day, even as mega-cap darling Nvidia climbed more than 3%. Alphabet and Tesla also both traded lower in the session.

Despite Wednesday's action, the three major indexes were still down on the week.

Regional bank stocks swung between gains and losses in the session after New York Community Bancorp announced a $1 billion capital raise. The SPDR S&P Regional Banking ETF (KRE) ended the session slightly lower after trading down by more than 2% during the day.

Shares of NYCB rose about 7.5% after tumbling more than 40% earlier in the session. Trading in the stock was halted several times throughout the day.