Wall Street rose on Wednesday, with all major equity indices advancing as investors assessed the latest batch of corporate earnings and drew optimism from positive labor market data.The S&P 500 gained 0.3% to 6,045 points, while the Dow Jones Industrial Average rose 0.6%, now trading less than 1% below its all-time high.Alphabet Inc.(NASDAQ:GOOGL) missed quarterly earnings expectations on its cloud business, triggering a 7% drop, its worst single-day decline in a year.
On the upside, Broadcom Inc.(NASDAQ:AVGO) surged 6% after beating estimates, fueling a rally in chip stocks.Nvidia Corp.(NASDAQ:NVDA) also gained 3.4%.
Private sector employment rose by 183,000 in January according to the ADP report, surpassing expectations of 150,000.
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