Stocks are closing broadly higher on Wall Street Wednesday, driving the S&P 500 and Nasdaq indexes to more record highs.

Technology stocks powered much of the rally as investors focused on the latest batch of mostly solid company earnings reports.

The latest gains come as worries subside about the economic impact of the virus outbreak that originated in China.

The S&P 500 index rose 21 points, or 0.7%, to 3,379. The Dow Jones Industrial Average gained 275 points, or 0.9%, to 29,551. The Nasdaq climbed 87 points, or 0.9%, to 9,725.

The 10-year Treasury yield is up to 1.63%.