US close: Stocks rise as financials, tech issues gain

US stocks ended in the black on Wednesday, underpinned by a strong performance in the financial and technology sectors.

The Dow Jones Industrial Average ended up 0.7% at 21,454.61, the S&P 500 rose 0.9% to 2,440.69 and the tech-heavy Nasdaq added 1.4% to close at 6,234.41.

Equity markets on Wall Street had ended the previous session weaker amid concerns about President Donald Trump's economic agenda following a delay to a vote on healthcare legislation. On the Nasdaq, technology stocks weighed as the sector came under pressure again.

Financial shares were on the front foot ahead of the final ‘stress results’ for the nation’s banks, alongside sharp gains in commodities as the US dollar slipped again. Technology stocks also put in a solid showing a day after suffering their worst losses in two weeks.

Meanwhile, crude oil prices advanced after the Energy Information Administration reported a 100,000 barrel drop in domestic US oil output for the latest week.

In economic news, pending home sales in the States fell unexpectedly in May, with the National Association of Realtors' index sinking by 0.8% on the month versus consensus for 0.8% growth.

America's trade shortfall with the rest of the world improved slightly in May, shrinking from -$67.55bn in April to -$65.9bn against consensus of -$66.2bn.

Yields on the benchmark 10-year US Treasury note were at 2.22%, up by two basis points.

In corporate news, General Mills shares advanced after the Cheerios cereal maker posted a better-than-expected quarterly profit.

Elsewhere Staples racked up strong gains following a report that it is set to announce its sale to private equity firm Sycamore Partners.

Monsanto was also higher after beating analysts' forecasts for fiscal third-quarter earnings and sales.