U.S. stocks posted solid gains Wednesday as technology shares led a broad-based rally, with the Nasdaq Composite advancing 1.24% to close at 21,736. The S&P 500 rose 0.75% to 6,579, while the Dow Jones Industrial Average gained 0.49% to reach 46,576. Small-cap stocks also participated in the upside, with the Russell 2000 climbing 0.63% to 2,506.
Micron Technology emerged as the standout performer, surging 8.88% to $367.85 as investors grew increasingly optimistic about the memory chip sector's prospects amid robust AI infrastructure demand. The semiconductor rally helped propel the tech-heavy Nasdaq to outpace broader market indices.
Energy stocks bucked the positive trend, with Exxon Mobil falling 5.23% to $160.78 as oil markets faced headwinds from supply concerns and refining margin pressures. WTI crude traded around $83.50 per barrel, while gold continued its strong performance at $4,680 per ounce.
The VIX closed at 26.2, reflecting moderate market anxiety despite the day's gains, suggesting investors remain cautious about potential volatility ahead.