Wall Street rises on upbeat earnings as Fed looms; Nasdaq up over 1%

Topics Wall Street | US stocks | Lockdown


US stocks rose on Wednesday as a slew of positive earnings updates and hopes for assurances of continued support from the Federal Reserve overshadowed concerns about next steps for the government's coronavirus support plan. Advanced Micro Devices Inc jumped 12.4 per cent after the chipmaker raised its full-year revenue forecast. Its shares were among the top boosts to the S&P 500 and Nasdaq.

The Philadelphia chip index rose 1.5 per cent. Starbucks Corp climbed 3.9 per cent after the coffee chain said business was "steadily.

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