US Stock Market Today: S&P 500, Nasdaq Rise As AMD Stock Zooms Nearly 9% In Early Trade

The benchmark US stock market indices rebounded on Wednesday on the back of a surge in major tech stocks like Advanced Micro Devices Inc. and Nvidia Corp.

The S&P 500 rose 0.29% to 6,866.30, while the tech-heavy Nasdaq Composite climbed 0.12% to 23,496.26. The Dow Jones Industrial Average extended its gains to open 0.74% higher at 48,281.58.

As of 9:10 p.m., the S&P traded little changed at 6,848 along with Nasdaq, which declined 0.44% at 23,370.74. Dow Jones traded 0.73% higher at 48,276.80.

In the early minutes of trade, AMD's stock rose nearly 9% to $257.65, while Nvidia's scrip was trading 0.16% higher at $193.39. Although Nvidia faced some volatility and erased its gains to trade 0.63% lower.

Palantir Technologies Inc. slipped 3% to trade at $195, along with Apple Inc.'s stock, which fell 0.75% to $273.11.

As the US markets opened, six out of the 11 sectoral indices traded in the red, with decline led by the communications sector, while the remaining five traded in the green with gains led by financials sector.

Spot gold prices climbed 0.90% to trade higher at 4,164.48; whereas crude oil prices fell with the West Texas Intermediate trading 3.08% lower at $59.13 a barrel and brent crude trading 2.82% lower at $63.33.

The Bloomberg Dollar Spot Index rose 0.2%, while the euro was little changed at $1.1573. The British pound 0.4% to $1.3098 and the Japanese yen fell 0.5% to 154.92 per dollar.

Bitcoin, the largest traded crypto currency, rose 1.2% to $103,872.98.