Economy

Technology stocks lead Wall Street higher

NEW YORK (AP) — The stock market is closing higher, with technology companies leading the way.

The Dow Jones industrial average rose 24 points, or 0.2 percent, to close at 16,097.33 Wednesday. The Standard & Poor's 500 index rose four points, or 0.3 percent, to 1,807.23. The tech-heavy Nasdaq gained the most — rising 27 points, or 0.7 percent, to 4,044.75.

Gains in the broader market were led by technology companies. Hewlett-Packard, which surged $2.27, or 9 percent, to $27.36, rose the most in the S&P 500 index. The world's second-largest maker of PCs earned $1.4 billion in its fiscal fourth quarter and issued a strong profit forecast for its current quarter.

The Nasdaq composite continued its upward march after closing above the 4,000 mark for the first time in 13 years on Tuesday.

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