Tech Stocks Lead Wall Street Rally Amid Steady Oil Prices

US stocks rose on Wednesday after a three-day losing streak as big tech companies and relatively steady oil prices helped lift the market. The S&P 500 index increased by 0.5%, while the Dow Jones Industrial Average and Nasdaq composite gained 0.6% and 0.5% respectively.

The recent volatility in the bond market had investors on edge, but Wednesday's data showed no significant move in yields that would cause concern. Michael Antonelli, a market strategist at Baird, noted that 'You've seen a nice spike in (bond) yields over the past week or so, and that's made the market a little bit nervous about how much is too much.'

The tech sector was a key driver of Wednesday's gains, with Dell Technologies jumping 15.8% after reporting strong second-quarter profits and raising its fiscal year revenue outlook. Palo Alto Networks also reported quarterly results that topped expectations, citing a strong market for AI cybersecurity.

Oil prices held relatively steady despite the intensification in the US war with Iran, with Brent crude rising by 1% to $95.63 per barrel and US oil climbing 0.9% to $91.01 per barrel.