Reality of Nvidia earnings beat wipes out Monday’s spooked stock swoon

U.S. stocks rose Wednesday and erased their losses for the week so far, as Nvidia and other technology companies led the way.

The S&P 500 added 0.8% for a second straight gain following Monday’s swoon, when stocks dropped as investors tried to separate potential losers from winners in the artificial-intelligence boom.

The Dow Jones Industrial Average rose 307 points, or 0.6%, and the Nasdaq composite climbed 1.3%.

Nvidia was one of the strongest forces lifting...