REUTERS: Technology shares lifted major U.S. stock indexes on Wednesday as investors awaited details on President Joe Biden's massive infrastructure plan, while Wall Street eyed its fourth straight quarterly gain.
The Nasdaq jumped more than 1per cent on Wednesday, but the index is about 7per cent off its all-time peak as high-flying tech names have been hit by a surge in U.S. 10-year bond yields. Apple Inc rose 1.6per cent after brokerage UBS upgraded the stock to"buy" on stable long-term demand for iPhones with better authorized service providers.
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