U.S. stocks rose on Wednesday, rebounding after the S&P 500’s largest decline in a month, with social-media shares helping lift the technology sector and as investors pondered when the Federal Reserve would start hiking interest rates.
“Technology is one of our favorite spots; (along with) any sector that does well in an economic upturn. There’s an anticipation of a pretty good upgrade cycle for both consumers and business,” said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management.
Apple rose, halting a two-session drop, its shares up 3.1 percent a day after the provider of consumer technology unveiled a smartwatch and payment gadgets.
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