Major U.S. indices rallied midday as lower energy costs outweighed sticky inflation data, with Oracle and Arista Networks leading a broad-based tech sector advance.
S&P 500 is up 1.06% to 7,672 as falling oil prices outweigh sticky inflation.
Nasdaq Composite climbed 1.31% to 26,423, boosted by tech and AI gains.
Dow Jones Industrial Average is up 0.95% to 52,560 as stocks gained across sectors.
Oracle jumped after reporting a fiscal first-quarter beat and hiking profit guidance, though it pared some gains.
Arista Networks gained as management stressed demand strength during the Citi Global TMT Conference.
Hewlett Packard surged as investors reassessed tech stocks amid sector strength.
U.S. equity markets surged midday as retreating oil prices bolstered investor sentiment, overshadowing concerns over persistent inflation. The S&P 500 climbed 1.06% to 7,672, while the Nasdaq Composite led gains with a 1.31% rise, driven by strong performance in the technology and AI sectors.
Equities gained as a retreat in oil prices eased concerns over energy costs, allowing investors to focus on strong corporate earnings from tech leaders like Oracle.