Stocks advanced Wednesday, buoyed by gains in technology companies as investors digested the latest economic data and awaited the release of minutes from the Federal Reserve’s most recent policy meeting. The Dow Jones Industrial Average rose 272 points, or 0.6%, while the S&P 500 climbed 0.9% and the Nasdaq Composite added 1.4%.
Nvidia shares were a key driver of the market’s upward momentum, increasing more than 2% following Meta’s announcement on Tuesday that it plans to incorporate millions of Nvidia’s chips into its data center infrastructure. The partnership signals a significant investment in artificial intelligence capabilities for Meta and further solidifies Nvidia’s position in the AI market, according to analysts.
Amazon also experienced gains, rising 2% after filings revealed Bill Ackman’s Pershing Square increased its stake in the e-commerce giant by 65% during the fourth quarter, making Amazon the fund’s third-largest holding. This move comes after Amazon ended a nine-day losing streak.
Micron Technology also saw its stock price increase, climbing more than 5% after David Tepper’s Appaloosa Management boosted its holdings in the chipmaker. These gains across several key technology companies contributed to the broader market rally.
Stephen Lee of Logan Capital Management noted that gains weren’t limited to well-known tech firms, with “lesser-known” names in the industrial tech sector, such as Trimble, also performing well, rising 2% during the session. Lee suggested the market is becoming “a little bit more discerning” in its investment choices.
Oil prices also rose on Wednesday amid ongoing concerns about geopolitical tensions between the U.S. And Iran. Vice President JD Vance stated on Tuesday that Iran had not adequately addressed U.S. Concerns during recent nuclear talks, and that military action remains a possibility.
As of 12:39 PM EST, Nvidia stock was trading at $189.09, up $4.12, or 2.23%, according to Yahoo Finance. The company’s market capitalization currently stands at $4.604 trillion. Nvidia is scheduled to report its earnings on February 25, 2026, with analysts anticipating strong performance.
