Tech Stocks Lift US Market Amid Oil Price Stability

The US stock market experienced a turnaround on Wednesday as technology and communication services stocks led the way.

The S&P 500 index rose by 0.4%, breaking a three-day losing streak, while the Dow Jones Industrial Average increased by 209 points or 0.4%.

The Nasdaq composite was up by 0.3%. The market had been under pressure due to rising oil prices and a bond-market sell-off.

Tech giants Nvidia and Micron Technology were among the biggest gainers, with Nvidia increasing by 3.3% and Micron by 1.5%.

Dell Technologies saw a significant boost of 13% after reporting strong second-quarter profits, while Palo Alto Networks fell 10.9% despite beating Wall Street's expectations.