U.S. stocks closed higher.

The U.S. stock market on Wall Street closed sharply higher today, amid a rise in shares of semiconductor companies, as investors bought shares of companies linked to artificial intelligence that are expected to lead a strong earnings season in the second quarter.

The S&P 500 rose by 55.10 points, or 0.74%, to reach 7,538.34 points, and the Nasdaq Composite Index rose by 1.12%, equivalent to 288.49 points, to close at 26,121.16 points.

The Dow Jones Industrial Average gained 159.68 points, or 0.29%, ending trading at 53,053.59 points.