Stocks rise on Wall Street, extending their weekly gains

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks closed higher on Wall Street Wednesday, putting major indexes on track to extend their weekly gains. The S&P 500 rose 0.9% and the Nasdaq added 0.5%. The Dow Jones Industrial Average climbed 0.6%. Big communications and technology companies helped lift the broader market. Google’s parent Alphabet rose 7.5% after it said its digital ad business propelled a 36% jump in profit last quarter. Major indexes are on track for solid gains this week, a welcome turnaround from January’s losses. The yield on the 10-year Treasury note, which is used to set interest rates on mortgages, fell to 1.77%.