US stocks rose on Wednesday as investors scooped up bargains in the beaten-down tech sector and higher oil prices buoyed energy companies, tempering concerns about the worsening global economic outlook. The Nasdaq rose more than 2 percent, outpacing gains in the other major indexes, as bargain hunters bought shares of big-cap technology companies and helped them rebound from Tuesday's sell-off.
Chevron was among the biggest advancers in the Dow, rising more than 1 percent as the price of oil popped above $53 a barrel even after data showed an increase in crude oil inventories. The Dow Jones industrial average rose 37.19 points, or 0.44 percent, to 8,516.66. The Standard & Poor's 500 Index was up 5.34 points, or 0.62 percent, at 862.73. The Nasdaq Composite Index jumped 32.38 points, or 2.21 percent, to 1,497.11.