U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining over 100 points on Wednesday.

The Dow traded up 1.69% to 43,237.93 while the NASDAQ rose 2.35% to 19,491.49. The S&P 500 also rose, gaining, 1.80% to 5,947.81.

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Leading and Lagging Sectors

Communication services shares surged by 2.4% on Tuesday.

In trading on Tuesday, consumer staples shares fell by 0.1%.

Top Headline

JPMorgan Chase & Co. (NYSE:JPM) reported upbeat fourth-quarter FY24 results.

Reported revenue rose 11% year-on-year to $42.8 billion. Net revenue (managed) was $43.7 billion (+10% Y/Y), beating the consensus of $41.707 billion. EPS of $4.81 exceeded the consensus of $4.11.

Equities Trading UP
                       

Equities Trading DOWN

Commodities

In commodity news, oil traded up 2.8% to $79.69 while gold traded up 1.3% at $2,716.20.

Silver traded up 3.8% to $31.505 on Wednesday, while copper rose 1% to $4.3855.

Euro zone

European shares closed higher today. The eurozone's STOXX 600 surged 1.33%, Germany's DAX 40 gained 1.50% and France's CAC 40 gained 0.69%. Spain's IBEX 35 Index gained 1.25%, while London's FTSE 100 gained 1.21%.

Asia Pacific Markets

Asian markets closed mixed on Wednesday, with Japan's Nikkei 225 falling 0.08%, China's Shanghai Composite Index declining 0.43%, Hong Kong's Hang Seng Index gaining 0.34% and India's BSE Sensex rising 0.29%.

Economics

• The headline Consumer Price Index rose 2.9% year-over-year in December, according to Wednesday's data from the Bureau of Labor Statistics.
• The EIA said crude inventories declined by 1.961 million barrels last week, compared to market estimates of a 1.6 million-barrel draw.

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