Stocks rebounded in early trading and Treasury yields inched lower on the expectations that the Federal Reserve may pause. 

The U.S. dollar continued its advance against all major currencies and the euro dropped to a new record 2-decade low and the British pound fell to a new 4-decade low. 

Energy and tech stocks led the gainers after crude oil rebounded from 9-month low and bond yields edged lower. 

The S&P 500 index increased 2.1% to 3,721.24 and the Nasdaq Composite index rose 2.1% to 11,054.15. 

Amazon, Tesla, Microsoft and Alibaba.com jumped between 1% and 1.2%. 

Apple Inc declined 2.5% to $147.86 after Bloomberg News reported that the company canceled plans to increase production of iPhone after demand fell short of expectations. 

BlackBerry Ltd fell 2.2% to $4.99 after the company reported revenue in the fiscal second quarter 2023 ending in August declined to $168 million from $175 million a year ago. 

Net loss in the quarter declined to $54 million from $1181 million a year ago and diluted loss per share was 9 cents from 25 cents a year ago. 

Cal-Maine Foods, Inc declined 0.3% to $60.52 after the company reported revenue in the first quarter fiscal year 2023 ending in August surged 103% to $658.3 million. 

The company swung to net income of $125.1 million from a loss of $18.02 million and diluted earnings per share were $2.57 compared to a loss of 37 cents a year ago. 

 Conventional egg net average selling price per dozen increased to $2.368 from  $0.99 a year ago, and both conventional and specialty egg revenue reached record levels for the first quarter of fiscal 2023.

The company sold 275.3 million compared to 254.6 million dozen eggs a year ago. 

DocuSign Inc increased 3.9% to $54.63 after the company announced a restructuring plan and said it plans to cut as many as 9% of its staff. 

The restructuring plan is estimated to cost between $30 million and $40 million, consisting primarily of employee transition cash expenses and are expected to be accounted for the fiscal year 2023 third and fourth quarters. 

Paychex, Inc increased 3.1% to $116.79 after the payroll service provider reported revenue in the fiscal first quarter 2023 ending in August rose 11% to $1.2 billion from $1.08 billion a year ago. 

Net income in the quarter rose 14% to $379.2 million from $333.6 million and diluted earnings per share rose to $1.05 from 92 cents a year ago. 

The company reiterated its total revenue growth guidance between 7% and 8% and revised higher its adjusted diluted earnings per share growth in the range between 11% and 12% from the previous estimate between 9% and 10%.  

Thor Industries, Inc rose 3.9% to $74.60 after the recreational vehicle maker reported revenue in the fiscal fourth quarter rose 6.4% to $3.8 billion from $3.59 billion a year ago. 

 The increase in sales was mostly driven by higher prices offsetting a decrease in unit sales. 

Net income in the quarter increased to $280.9 million from $230.0 million and diluted earnings per share rose to $5.15 from $4.12 a year ago. 

Consolidated sales in the year increased 32.4% to $16.3 billion and net income rose to $1.14 billion from $660.8 million and diluted earnings per share increased to $20.59 from $11.85.