US stocks have rebounded as jitters over inflated tech stock valuations abated and upbeat earnings and better-than-expected economic data fuelled investors' risk appetite.

A broad rally sent all three major US equity indexes higher on the day, with a bounce-back in tech and tech-related momentum stocks leading the charge.

But the rally lost some momentum after JPMorgan Chase chief executive Jamie Dimon told Reuters asset prices are quite high and there is always a risk of markets going down.

Technology and artificial intelligence-related shares have muscled the stock market to record-breaking highs in recent months, leading to worries of inflated valuations and prompting Wall Street executives to issue pullback warnings.

Those worries came to a head on Tuesday, when the S&P 500 and the

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