(CNBC) — U.S. stocks rose to all-time highs Wednesday as a gain in chip stocks propelled the tech sector higher.
The S&P 500 advanced 0.6 percent to close at 2,713.06 with tech rising 1.1 percent. It was also the first time the index closed above 2,700 for the first time. Energy stocks also surged 1.5 percent after U.S. crude posted its best settle since December 2014.
The Nasdaq composite jumped 0.8 percent to 7,065.53, with Advanced Micro Devices surging more than 5 percent.
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The Dow Jones industrial average finished 98.97 points higher at 24,922.68, as it closed in on the 25,000 mark.