Technology and other growth stocks climbed Wednesday as more corporate earnings reports rolled in that were better than investors feared.
The Nasdaq Composite advanced 184.50 points, or 1.6%, to finish the day at 11897.65. The S&P 500 rose 23.21 points, or 0.6%, to 3959.90. The Dow Jones Industrial Average added 47.79 points, or 0.2%, to 31874.84. All three indexes rose for the second consecutive session and are trading at their highest levels since early June. Technology, communications and consumer discretionary stocks rallied as investors sought out riskier areas of the market. For much of the year, rising interest rates have weighed on the value of stocks that are more focused on growth rather than near-term cash flows. Some of that pressure has eased over the past month.
