Modest gains on Wall Street lifted the stock market to an all-time high Wednesday ahead of a highly anticipated earnings update from computer chip giant Nvidia.

The S&P 500 rose 0.2 percent, good enough to nudge the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3 percent and the Nasdaq composite closed 0.2 percent higher.

Technology companies led the way higher, outweighing declines in communication services and other sectors.

After the market closed, Nvidia reported quarterly earnings and revenue that topped Wall Street analysts' forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated. The stock fell 3.2 percent in after-hours trading after having slipped

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