Stocks closed higher on Wall Street Wednesday, putting major indexes on track to extend their weekly gains. The S&P 500 rose 0.9% and the Nasdaq added 0.5%.

The Dow Jones Industrial Average climbed 0.6%. Big communications and technology companies helped lift the broader market.

Google's parent Alphabet rose 7.5% after it said its digital ad business propelled a 36% jump in profit last quarter.

Major indexes are on track for solid gains this week, a welcome turnaround from January's losses.

The yield on the 10-year Treasury note, which is used to set interest rates on mortgages, fell to 1.77%.