U.S. stocks rallied into the close on Wednesday, with leadership coming from Industrials, Technology and Basic Materials. The Dow Jones Industrial Average advanced 1.24% to reach a one-month high. The S&P 500 climbed 1.46% and the Nasdaq Composite added 2.03% as investors pushed a range of large-cap and specialty technology names higher.
Major index performance at the close
- Dow Jones Industrial Average - up 1.24% (new 1-month high)
- S&P 500 - up 1.46%
- Nasdaq Composite - up 2.03%
Notable movers on the Dow
On the Dow, The Walt Disney Company (NYSE:DIS) was the session leader, jumping 7.47% or 7.51 points to close at 107.99. NVIDIA Corporation (NASDAQ:NVDA) rose 5.77% or 11.33 points to finish at 207.83. Honeywell International Inc (NASDAQ:HON) gained 3.73% or 7.80 points to end the day at 216.86.
Conversely, Chevron Corp (NYSE:CVX) was the biggest decliner on the index, falling 3.88% or 7.48 points to 185.16. Salesforce Inc (NYSE:CRM) slipped 3.10% or 5.80 points to close at 181.19, while Cisco Systems Inc (NASDAQ:CSCO) retreated 2.82% or 2.66 points to 91.64.
Standouts on the S&P 500
Among S&P 500 components, Super Micro Computer Inc (NASDAQ:SMCI) led the winners with a 24.56% jump to 34.67. DaVita HealthCare Partners Inc (NYSE:DVA) climbed 23.46% to settle at 193.88, and Advanced Micro Devices Inc (NASDAQ:AMD) surged 18.62% to close at 421.43.
At the other end, CDW Corp (NASDAQ:CDW) tumbled 20.38% to 108.92. Cencora Inc (NYSE:COR) lost 17.38% to finish at 252.74, and Bio-Techne Corp (NASDAQ:TECH) declined 16.36% to 47.41.
Nasdaq leadership and laggards
On the Nasdaq Composite, the biggest percentage gains belonged to smaller-cap and specialty issuers. Powell Max Ltd (NASDAQ:PMAX) soared 95.28% to 4.14, Star Fashion Culture Holdings Ltd (NASDAQ:STFS) jumped 92.68% to 7.77, and One Stop Systems Inc (NASDAQ:OSS) rose 56.91% to 15.33.
Conversely, EZGO Technologies Ltd (NASDAQ:EZGO) plunged 91.58% to 0.16, GD Culture Group Ltd (NASDAQ:GDC) fell 79.30% to 1.24, and OneConstruction Group Ltd (NASDAQ:ONEG) declined 40.15% to 6.56.
Market breadth and notable record levels
- On the New York Stock Exchange, 1,801 stocks rose, 944 fell, and 84 finished unchanged.
- On the Nasdaq Stock Exchange, 2,006 advanced, 1,368 declined, and 174 were unchanged.
Several individual stocks moved to milestone price levels during the session. Shares of CDW Corp fell to a five-year low, down 20.38% to 108.92. DaVita shares rose to an all-time high, up 23.46% to 193.88. Cencora shares dropped to 52-week lows, falling 17.38% to 252.74. AMD shares reached an all-time high after gaining 18.62% to 421.43. EZGO shares hit all-time lows, declining 91.58% to 0.16. GD Culture Group fell to 52-week lows, down 79.30% to 1.24. One Stop Systems rose to an all-time high, up 56.91% to 15.33.
Commodities, volatility and currencies
The CBOE Volatility Index, which measures implied volatility of S&P 500 options, was up 0.06% to 17.39 at the close.
In commodities trading, Gold Futures for June delivery rose 2.94% or 134.36 to $4,702.86 a troy ounce. Crude oil prices moved lower: crude oil for June delivery fell 6.65% or 6.80 to $95.47 a barrel, while the July Brent oil contract declined 7.61% or 8.36 to $101.51 a barrel.
In foreign exchange markets, the euro gained against the dollar with EUR/USD up 0.47% to 1.17, while USD/JPY fell 0.91% to 156.37. The US Dollar Index Futures was down 0.43% at 97.89.
What the close means for markets
Wednesday’s session showed broad participation across the major U.S. exchanges with Technology and Industrials among the stronger sectors. Notable volatility persisted in individual equities and smaller-cap names, producing outsized percentage moves on both the upside and downside. At the same time, commodity markets diverged with bullion higher and crude oil notably lower at the close.