Mumbai, June 17 -- The Nasdaq jumped 294.39 points or 1.5% to 19,701.21, the S&P 500 advanced 56.14 points or 0.9% to 6,033.11 and the Dow climbed 317.30 points or 0.8% at 42,515.09.

Wall Street rebounded as traders anticipated the upcoming G7 summit in the Canadian Rockies, hoping for progress on global trade deals. Attention also turned to the nearing end of President Trump's 90-day pause on "reciprocal tariffs." Additionally, the Federal Reserve's policy announcement is expected to offer insights into future interest rate decisions.

Airline stocks substantial moved upside after moving sharply lower over the past few sessions, with the NYSE Arca Airline Index soaring by 3.3%. Semiconductor stocks are significantly strong, as reflected...