Tech-Led Rally Boosts Wall Street as Oil Prices Continue to Rise

The US stock market experienced a rebound on Thursday, with major indexes rising as technology stocks and easing bond yields lifted Wall Street. The S&P 500 gained 1.1%, while the Dow Jones Industrial Average added 634 points, or 1.2%, and the Nasdaq composite rose 1.4%.

The rise was driven by big technology and communication services stocks, which tend to have a significant influence on the broader market's direction. Microsoft, Apple, and Meta led the gains, rising 3.1%, 1.5%, and 3.5%, respectively. Nvidia also rose 1.5% after announcing its plans to acquire Hugging Face for $13 billion.

Oil prices continued to rise due to the escalating US war with Iran, with Brent crude increasing by 0.1% to $95.75 per barrel and benchmark US crude rising 0.5% to $91.51 a barrel.