U.S. stocks advance as tech rallies

Xinhua
30 Mar 2023, 07:49 GMT+10

NEW YORK, March 29 (Xinhua) -- Wall Street's major averages climbed on Wednesday, boosted by strong gains in tech names.

The Dow Jones Industrial Average rose 323.35 points, or 1 percent, to 32,717.6. The S&P 500 increased 56.54 points, or 1.42 percent, to 4,027.81. The Nasdaq Composite Index added 210.16 points, or 1.79 percent, to 11,926.24.

All the 11 primary S&P 500 sectors ended in green, with real estate and technology up 2.31 percent and 2.09 percent, respectively, leading the advance.

Shares of key tech giants such as Meta Platforms, Apple, Amazon, Netflix and Microsoft all closed higher.

Newly released data showing signs of improvement in the U.S. housing market also supported equities.

The National Association of Realtors reported Wednesday the U.S. pending home sales index grew in February for the third consecutive month, up 0.8 percent from January.

Investors looked ahead to a key inflation report as the latest U.S. personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation, is slated for release on Friday.

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