U.S. stock markets experienced an upswing following encouraging earnings reports from major companies, including Morgan Stanley and United Airlines.
The S&P 500 index increased by 0.5% on Wednesday, rebounding from a recent dip after reaching an all-time high due to a decline in energy and technology shares.
The Dow Jones Industrial Average saw an uplift of 0.8%, achieving another record peak, while the Nasdaq Composite crept up by 0.3%.
Energy stocks, including Exxon Mobil, rebounded after a troubling previous day linked to falling crude oil prices.
Additionally, shares in the semiconductor sector fared slightly better following a market-altering alert from ASML, a supplier based in the Netherlands.
Bonds indicated some relief as Treasury yields eased within the market.
On Wednesday’s performance, the S&P 500 went up by 27.21 points, translating to a rise of 0.5%, reaching a total of 5,842.47.
Meanwhile, the Dow Jones Industrial Average climbed by 337.28 points, or 0.8%, bringing it to 43,077.70.
The Nasdaq Composite gained 51.49 points, equivalent to 0.3%, finishing at 18,367.08.
Small-cap companies, as represented by the Russell 2000 index, rose by 36.86 points, or 1.6%, settling at 2,286.68.
Looking at the week’s broader performance, the S&P 500 has risen 27.44 points, marking a 0.5% increase.
The Dow has moved up by 213.84 points, also representing a 0.5% rise.
The Nasdaq has seen a modest increase of 24.14 points, or 0.1%, while the Russell 2000 has gained 52.27 points, reflecting a 2.3% uptick.
From a year-to-date perspective, the S&P 500 has seen a substantial increase of 1,072.64 points, or 22.5%.
The Dow has climbed by 5,388.16 points, marking an impressive 14.3% increase.
The Nasdaq has grown by 3,355.73 points, which amounts to 22.4%, and finally, the Russell 2000 has risen by 259.60 points, translating into a 12.8% increase.