The S&P 500 and Nasdaq Composite Indexes posted slight gains in Tuesday's trading session, supported by encouraging earnings reports from major technology companies.
In terms of major index movements, the Dow Jones rose 1.05% to 49,407.66 points, the S&P 500 gained 0.54% to 6,976.44 points, while the technology-focused Nasdaq Composite rose 0.56% to 23,592.11 points.
The positive developments have boosted US market sentiment this week.
Meanwhile, shares of data analytics firm Palantir Technologies rose about 6% after the company beat expectations for revenue and earnings.
Shares of robotics firm Teradyne jumped 23% after the company issued strong guidance for the current quarter.
Conversely, shares of NXP Semiconductor fell 5% following a less than encouraging first-quarter gross margin forecast.
The market rally was also driven by a surge in technology stocks after Apple jumped 4.1%, followed by Micron (5.5%) and Sandisk (15.4%).
However, artificial intelligence (AI) chip leader Nvidia plunged 2.9% on continued uncertainty over OpenAI's $100 billion investment.
Investors' attention now turns to earnings results from major companies such as AMD, PepsiCo, Pfizer, PayPal and Chipotle on Tuesday.
