Stocks closed broadly higher on Wall Street Wednesday, putting the market further into the green for the week after a solid gain a day earlier. The S&P 500 rose 1.5%.

The Dow Jones Industrial Average rose 0.9% and the Nasdaq rose 2.1%.

Technology and communications stocks led the way higher. Chipmaker Nvidia rose 6.4%. The yield on the 10-year Treasury note held steady at 1.95%, the highest it's been since before the pandemic began.

Chipotle Mexican Grill jumped 10.2%. The company reported strong quarterly results after raising its menu prices 4% in December as it faced higher costs for beef and labor.