US stocks rise as tech shares rebound

US stocks ended higher as major tech shares recouped some of their losses from the prior session.

On Wednesday, the Dow Jones Industrial Average increased 289.93 points, or 1.05 per cent, to 27,976.84. The S&P 500 rose 46.66 points, or 1.40 per cent, to 3,380.35. The Nasdaq Composite Index jumped 229.42 points, or 2.13 per cent, to 11,012.24, Xinhua news agency reported.

Shares of Apple and Microsoft rallied 3.32 per cent and 2.86 per cent, respectively, leading the gainers in the Dow.

Shares of other US tech giants such as Facebook, Amazon, Netflix and Google-parent Alphabet also finished higher.

All the 11 primary S&P 500 sectors advanced, with technology up 1.78 percent, the best-performing group.

Meanwhile, US-listed Chinese companies traded roughly higher, with all the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.

On the data front, US consumer price index increased 0.6 per cent in July, matching the rise in June, with gasoline accounting for a quarter of the gain, the Labor Department reported Wednesday.

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