Towven.com – US stock markets closed higher on Wednesday, with major indexes back near record highs. The Dow Jones Industrial Average and S&P 500 rose 0.7% and 0.4%, respectively, while the tech-heavy Nasdaq Composite added 0.2%.
Investors reacted to a flurry of earnings reports while keeping an eye on geopolitical developments.
Shares of industrial manufacturer Johnson Controls International surged 11.3% after the company posted better-than-expected sales and profits for its fiscal first quarter.
Nvidia CEO Jensen Huang and Super Micro Computer Charles Liang during the Computex conference in Taipei, Taiwan, on June 5, 2024.
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The equities market has shaken off the volatility that followed news over the weekend that President Donald Trump planned to impose tariffs on the main U.S. trading partners.
The Dow and S&P 500 are now less than 1% away from their record closing highs.
Other notable stock movers:
- Super Micro Computer shares soared for the second straight session, jumping 8.0% after the company announced “full production availability” of its newest artificial intelligence (AI) data center server solution.
- Electronic Arts shares gained 7.6% following the video game maker’s quarterly earnings release.
- Agricultural sciences company FMC Corp. shares tumbled 33.5% after the company said in its earnings call that customers in various countries opted to lower inventory levels compared with historical trends.
Looking ahead:
Investors will be watching for further developments on the trade front, as well as any signs of further economic recovery.
