NEW YORK: Wall Street’s main indexes advanced on Wednesday as signs of a working Covid-19 vaccine raised hopes of a faster-than-expected economic rebound, with technology stocks bouncing back from steep losses this week.

The tech-skewed Nasdaq advanced 1.3%, while mega-caps Netflix Inc, Amazon.com Inc and Apple Inc, the so-called stay-at-home winners, also gained between 1.7% and 2.5%.

The tech index climbed 1.8%, the most among major S&P sectors, followed by the consumer discretionary index.

At 11:07 a.m. ET the Dow Jones Industrial Average rose 32.54 points, or 0.11%, to 29,453.46, the S&P 500 gained 20.02 points, or 0.56%, to 3,565.55 and the Nasdaq Composite gained 149.45 points, or 1.27%, to 11,700.87.

Lyft Inc jumped 5% after the ride-hailing app said it was working on a new service to take a slice of the burgeoning food-delivery market, as it works to make up for a drop in quarterly revenue.—Reuters