U.S. equity markets ended the session higher on Wednesday, driven by advances across several cyclical and financial sectors. At the New York Stock Exchange close, the Dow Jones Industrial Average had risen 0.29%, the S&P 500 was up 0.38% and the Nasdaq Composite added 0.62%.
Top movers among blue chips
On the Dow, Apple Inc (NASDAQ:AAPL) was the top gainer, advancing 4.01% - a rise of 12.64 points - to finish at 327.50. Amazon.com Inc (NASDAQ:AMZN) climbed 3.00%, or 7.43 points, to close at 254.92, while Microsoft Corporation (NASDAQ:MSFT) added 2.78% - up 10.70 points - to end the day at 395.63.
Not all Dow components participated in the rally. Cisco Systems Inc (NASDAQ:CSCO) fell 4.54%, or 5.32 points, to 111.77; International Business Machines (NYSE:IBM) declined 2.71%, down 5.89 points to 211.18; and Johnson & Johnson (NYSE:JNJ) slipped 2.69%, or 6.83 points, to finish at 247.02.
S&P 500 leaders and laggards
Among S&P 500 constituents, PayPal Holdings Inc (NASDAQ:PYPL) posted the largest percentage gain, jumping 17.20% to 55.52. BlackRock Inc (NYSE:BLK) rose 6.63% to settle at 1,093.40, and CBRE Group Inc Class A (NYSE:CBRE) gained 6.22% to close at 141.41.
On the downside, Pentair PLC (NYSE:PNR) tumbled 15.00% to 64.33 in late trade, Erie Indemnity Company (NASDAQ:ERIE) lost 11.91% to end at 210.07, and Dell Technologies Inc (NYSE:DELL) was down 9.92% to 412.17.
Nasdaq extremes
The Nasdaq Composite saw very large moves among small-cap and micro-cap listings. Jet.AI Inc (NASDAQ:JTAI) surged 580.10% to 3.14. Sobr Safe Inc (NASDAQ:SOBR) jumped 76.92% to settle at 2.07, and Electrovaya Inc (NASDAQ:ELVA) climbed 49.05% to close at 11.76.
Conversely, Triller Group Inc (NASDAQ:ILLR) plunged 44.59% to 1.28, Senti Biosciences Holdings Inc (NASDAQ:SNTI) dropped 39.71% to 0.58, and SANUWAVE Health Inc (NASDAQ:SNWV) fell 39.21% to 7.27 at the close.
Market breadth and notable price milestones
On the NYSE, advancing issues outnumbered decliners by 1,527 to 1,213, with 81 stocks unchanged. The Nasdaq saw 1,920 advancers against 1,472 decliners and 171 unchanged issues.
Several stocks reached important price milestones during the session. Pentair PLC traded at 52-week lows after falling 15.00% or 11.35 to 64.33. Apple rose to an all-time high, gaining 4.01% or 12.64 to 327.50. IBM moved to a 52-week low after its decline of 2.71% or 5.89 to 211.18.
On the small-cap side, Jet.AI Inc recorded what the market data identified as an all-time low while simultaneously rising sharply, increasing 580.10% or 2.68 to 3.14. Senti Biosciences fell to all-time lows after losing 39.71% or 0.38 to 0.58. SANUWAVE Health traded at 52-week lows following its 39.21% decline or a drop of 4.69 to 7.27.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures implied volatility for S&P 500 options, fell 5.03% to 15.67.
In commodities, Gold Futures for August delivery were down 0.05% or 1.90 to $4,067.80 a troy ounce. Crude oil for August delivery rose 1.22% or 0.97 to $80.31 a barrel, and the September Brent contract increased 1.29% or 1.09 to trade at $85.82 a barrel.
In currency markets, EUR/USD was reported unchanged at 1.15 with a quoted 0.37% figure, while USD/JPY edged up 0.03% to 162.22. The US Dollar Index Futures fell 0.40% to 100.31.
Takeaway
Wednesday's session closed with broad gains, led by consumer services, telecoms and financials, while technology and select large-cap names also contributed to the advance. Activity was mixed among small-cap names, with extreme moves both higher and lower recorded on the Nasdaq.