Tech Stocks Drive Wall Street Gains as Nasdaq Rises 1.3%

US technology stocks led a market rally as the Nasdaq jumped 1.3%, driven by investors returning to mega-cap technology shares.

The benchmark S&P 500 index rose 0.6% to reach roughly 7,758, approaching its 52-week high during the trading session.

Market volatility decreased as the VIX, known as Wall Street's fear gauge, eased to approximately 14.9, signaling calm across trading desks.

Key terms explained:

Nasdaq Composite: An index of companies listed on the Nasdaq exchange, dominated by technology stocks.

S&P 500: An index tracking 500 large US companies and the broadest gauge of the US market.

VIX index: A measure of expected market volatility known as the fear gauge; a decline signals calmer expectations.

52-week high: The highest price an index or stock has reached over a full year, used as a benchmark of trend strength.

Big Tech: The largest technology companies by market value, sometimes called market leaders.