NEW YORK (AP) — Stocks rose broadly on Wall Street in afternoon trading Tuesday as technology stocks rallied following a weak start.

The S&P 500 rose 1.7% as of 3:29 p.m. Eastern. The Dow Jones Industrial Average rose 517 points, or 1.5%, to 34,929. The tech-heavy Nasdaq shook off an early loss and was up 2.2%.

Technology stocks helped power the broad gains. Pricey valuations for many of the bigger technology companies give them more sway in directing the broader market higher or lower. Microsoft rose 1.7%.

Retailers and health care companies also rose. Amazon rose 3.6%. Johnson & Johnson rose...