US equity markets closed higher on Wednesday, with technology shares spearheading the advance despite escalating geopolitical tensions in the Middle East.
The S&P 500 rose 0.81%, while the Nasdaq Composite jumped 1.30%, driven by robust performance from major tech names including AMD (AMD.O) and Johnson & Johnson (JNJ.N).
The rally signals that investor appetite for risk remains intact, with corporate earnings and macroeconomic data outweighing geopolitical headwinds.
The market's resilience was bolstered by better-than-expected producer price index (PPI) data, which eased concerns about persistent inflationary pressures.
This positive macroeconomic backdrop provided a tailwind for equities, allowing the tech-led rally to gain momentum.
AMD and J&J were among the standout performers, reflecting strong investor confidence in their respective sectors.