Technology stocks soared on Wall Street today, lifting blue chips more modestly and giving the Nasdaq composite index its first three-day winning streak since Labour Day.

An earnings warning from Hewlett-Packard after the market closed raised questions about the sustainability of those gains. But analysts were pleased with the session's upward trend, particularly in the battered tech sector.

"It's not a full-blown green light to recovery, but this is a good sign," said Mr Brian Belski, fundamental market strategist for US Bancorp Piper Jaffray.

After a weak start, the Nasdaq closed up 4.6 per cent, rising 116.39 to 2,640.57, extending a rally that began on Tuesday.