U.S. stocks extended gains heading toward the close of trade on Wednesday, sending the S&P 500 up more than 1 percent, as investors snapped up shares in the financial and technology sectors.

The Dow Jones industrial average <.DJI> was up 97.94 points, or 0.89 percent, at 11,117.36. The Standard & Poor's 500 Index <.SPX> was up 11.98 points, or 1.00 percent, at 1,209.28. The Nasdaq Composite Index <.IXIC> was up 37.50 points, or 1.52 percent, at 2,503.49.

(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)