Strength in technology stocks lifted the Nasdaq Composite nearly 1.3% as of 11:45 a.m. on Wednesday, helping the tech-heavy index bounce back following a losing session.
Semiconductor and big technology stocks contributed largely to those gains, with Amazon up nearly 3%. Apple, Nvidia, Microsoft, Meta Platforms, Salesforce and Netflix gained more than 1% each.
A rise in Micron shares despite a disappointing quarter boosted the broader semiconductor sector. Micron added about 6%, while Marvell Technology, Intel and Lam Research gained at least 4% each. ON Semiconductor, Qualcomm and Analog Devices rose more than 2%, while Advanced Micro Devices inched 1.4% higher.
The S&P 500′s information technology sector rose 1.6%, while communication services added about 1%.
This article was originally published by CNBC.
