Wall Street Rises as Tech Stocks Climb Amid Steady Oil Prices and Bond Yields
U.S. stocks ended their three-day losing streak on Wednesday, driven by gains in major technology companies and stable oil prices and bond yields. The S&P 500 rose 0.5%, the Dow Jones Industrial Average gained 0.6%, and the Nasdaq composite climbed 0.5%. Investors found relief from recent volatility after a rocky start to September following an overall positive August for all major indices. The AI sector continued to drive market optimism, with Dell Technologies reporting strong Q2 profits due to increased demand for artificial intelligence computing and raising its revenue outlook. Despite outperforming expectations in earnings, Palo Alto Networks saw shares fall 9.3%. Chipmaker Nvidia rose 3.2%, while Micron Technology gained 2.4%. Meanwhile, oil prices remained relatively steady despite the escalation of hostilities between the U.S. and Iran following weekend attacks on Iranian sites by the U.S., which led to retaliation from Iran.
Tickers: $DELL $DOW $MU $NVDA $PANW
Topics: bond yields oil prices stocks technology sector