Highlights
Positive earnings news and lower oil prices boosted stocks on Wednesday. The Dow Jones industrial average gained 0.7 percent, the S&P rose 0.6 percent, and the Nasdaq rallied 1.1 percent. Bond yields rose while the dollar was mostly flat.
Positive quarterly results from SpaceX lifted the stock along with reports that it may merge with Tesla, which lifted the automaker. The rally in these shares helped revive the AI trade and boost chipmakers including Nvidia and AMD. Upbeat quarters from 3M and Northrup Grumman added to the bullish view.
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