Wall Street boosted by improving tech sector

US stock indices rose during Wednesday trading as the technology sector continued to recover from the sharp losses recorded earlier this week.

US President Donald Trump delivered an upbeat message on the strength of the economy during his State of the Union address before Congress, helping support investor sentiment.

Later today, after the market close, Nvidia is scheduled to report its quarterly earnings for the past three months.

Nvidia’s results come at a time when investors are reassessing elevated valuations in technology stocks amid growing concerns over heavy capital spending by major cloud-computing companies on artificial intelligence.

Meanwhile, investors are also monitoring tensions between the United States and Iran this week, alongside evaluating Trump’s proposal to raise global tariffs to 15%, following the implementation of a 10% tariff on global imports on Tuesday.

In trading, the Dow Jones Industrial Average rose 0.2% (about 100 points) to 49,275 as of 15:52 GMT. The broader S&P 500 gained 0.5% (around 32 points) to 6,922, while the Nasdaq Composite climbed 0.9% (about 217 points) to 23,080.