US Stocks-Wall Street rallies as strong inflation data cements rate-hike bets
SPY•Dell and hardware stocks rise after Oracle results
Dell DELL.N soared 11% to a record high. Hewlett Packard Enterprise HPE.N jumped 10% and HP HPQ.N gained 6.5% after Oracle's ORCL.N quarterly results topped estimates. Oracle dipped 0.5%.
The PHLX chip index .SOX jumped 2.39%, helped by a 2.6% increase in Advanced Micro Devices .AMD.O.
Shares of ACV Auctions ACVA.N soared 44% after online vehicle auctioneer Copart CPRT.O agreed to buy it in a nearly $1.9 billion deal.
Indexes advance as volatility falls and sector gains broaden
The S&P 500 was up 0.99% at 7,666.77 points. The Nasdaq gained 1.08% to 26,363.39 points, while the Dow Jones Industrial Average was up 1.08% at 52,625.63 points.
Ten of the 11 S&P 500 sector indexes rose, led by communication services .SPLRCL, up 1.69%, followed by a 1.35% gain in information technology .SPLRCT.
