New York: US stocks traded on an upbeat note on Thursday, bolstered by solid gains in major tech shares.
The Dow Jones Industrial Average increased 100.93 points, or 0.37 percent, to 27,248.01. The S&P 500 climbed 12.54 points, or 0.42 percent, to 3,019.27. The Nasdaq Composite Index rose 41.93 points, or 0.51 percent, to 8,219.32, Xinhua reported.
The Dow’s triple-digit gains were led by Microsoft stock. Shares of the software behemoth advanced more than 2 percent around midday after the company approved a $40 billion stock repurchase program.
Major tech shares, including Facebook and Google-parent Alphabet, traded higher, contributing to the market.
The S&P 500 technology sector rose 0.7 percent in midday trading.
Wall Street also digested the Federal Reserve’s latest decision on the monetary policy.
The US central bank on Wednesday lowered interest rates by 25 basis points amid growing risks and uncertainties stemming from trade tensions and a global economic slowdown, following a rate cut in July that was its first in more than a decade.