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Stocks rose on Wall Street as more US companies turn in their latest quarterly reports and several economic updates shed some light on the US economy. The S&P 500 rose 0.5 per cent. The Dow Jones rose 62 points, or 0.1 per cent, as of 11:35 a.m. Eastern time. The Nasdaq composite rose 0.8 per cent. The Australian sharemarket is set to climb, with futures at 4.54am AEDT pointing to a rise of 76 points, or 0.9 per cent, at the open. The ASX dipped by 0.1 per cent on Wednesday. The Australian dollar was trading at $US65.05¢ at 5.05am AEDT. The gains mark a reversal from the prior day’s dip as big technology stocks once again lead the broader market. Nvidia rose 1.6 per cent and Google’s parent, Alphabet, jumped 2.4 per cent. Their huge values give them outsized influence over the market. Several big industrial companies also helped lift the market. Companies from a broad spectrum of industries reported their latest financial results and gave updated forecasts.
