Tech Stocks Lead Rally on Wall Street as Bond Yields Ease

The stock market on Wall Street showed signs of recovery after a mixed start to September. The S&P 500 rose 1.1%, while the Dow Jones Industrial Average gained 1.2% and the Nasdaq composite closed 1.4% higher.

The rally was led by big technology companies, including Microsoft, Apple, and Meta, which saw their stocks rise 2.7%, 1%, and 3%, respectively.

Nvidia's stock also rose 1.8% after the company announced it would buy AI platform Hugging Face for $13 billion.

However, not all tech companies performed well, with Broadcom's stock falling 2.7% despite beating Wall Street's estimates and forecasting a doubling of its AI chip revenue by 2028.