NEW YORK: Wall Street’s main indexes and the Dow hit a record high on Wednesday, as growth stocks bounced from a steep selloff in the previous session and a survey showed private jobs rose in April.
Technology-related companies including Apple Inc, Microsoft Corp, Amazon.com Inc, Facebook Inc and Alphabet Inc rose between 0.1% and 1.7%.
The S&P 500 technology sector gained 0.9%, while the Philadelphia SE Semiconductor index added 1.8%.
Six of the 11 major S&P 500 sectors rose in early afternoon trading, with commodity-sensitive sectors including energy and materials rising 3.5% and 1.3%, respectively.
Defensive utilities fell 2.2% and real estate dropped 1.3%, leading sectoral declines.
At 12:10 p.m. ET, the Dow Jones Industrial Average was up 155.88 points, or 0.46%, at 34,288.91, the S&P 500 was up 22.33 points, or 0.54%, at 4,186.99 and the Nasdaq Composite was up 85.27 points, or 0.63%, at 13,718.77.