Stocks gained ground on Wall Street following several upbeat economic updates and a steady flow of quarterly reports from U.S. companies.

The S&P 500 rose 0.8%. The Dow Jones Industrial Average rose 289 points, or 0.6%, as of 2:44 p.m. Eastern time. The Nasdaq composite rose 1.2%.

The gains were broad and marked a reversal from the prior day's dip. Nearly every sector within the S&P 500 gained ground and the index recovered a majority of its losses from Tuesday.

Big technology stocks once again led the broader market. Nvidia rose 1.3% and Google's parent, Alphabet, jumped 2.1%. Their huge values give them outsized influence over the market. Retailers and financial firms also helped lift the market.

Company earnings and forecasts were once again a big focus for Wall Street, with results coming from a broad spectrum of industries.

The threat of tariffs also continues to hang over consumers and businesses. President Donald Trump's trade war with China, Canada and many other nations has been unpredictable.

The full impact of higher prices is difficult to forecast because of constant shifts in policy. The U.S. Supreme Court is hearing arguments Wednesday about the legality of the sweeping tariffs.