US stocks extended a rally to a fourth day on Wednesday, as strong earnings reports from Alphabet and chipmaker AMD lifted the technology sector after a bruising start to the year.
Wall Street’s benchmark S&P 500 index advanced 0.9 per cent, with a handful of big-name tech stocks driving the gains.
The index dropped more than 5 per cent in January, its worst start to the year since the financial crisis, amid rising concerns about the effect of higher interest rates, slowing growth and geopolitical tensions. However, Wednesday marked the fourth consecutive day of gains and brought its increase since the start of trading on Friday to 6 per cent.