U.S. equities moved higher at Wednesday's close, with strength concentrated in Consumer Goods, Consumer Services and Healthcare names. The Dow Jones Industrial Average finished up 0.36% and recorded a new intraday and closing high, the S&P 500 advanced 0.02% and the Nasdaq Composite gained 0.07% when trading ended on the New York exchanges.
On the Dow, the largest single-session percentage gainer was Procter & Gamble Company (NYSE:PG), which climbed 3.17% - an increase of 4.53 points - to finish at 147.49. Boeing Co (NYSE:BA) added 2.51%, rising 5.51 points to end the day at 224.41, and Amazon.com Inc (NASDAQ:AMZN) closed up 2.49% or 6.60 points at 271.89.
At the other end of the Dow, JPMorgan Chase & Co (NYSE:JPM) was the weakest performer, falling 2.43% or 7.46 points to close at 299.28. Travelers Companies (NYSE:TRV) declined 1.61%, losing 4.90 points to finish at 299.94, and Chevron Corp (NYSE:CVX) slipped 1.25%, down 2.31 points to 182.40.
Within the S&P 500, MGM Resorts International (NYSE:MGM) led gainers, jumping 9.08% to settle at 41.94. United Airlines Holdings Inc (NASDAQ:UAL) rose 6.33% to 112.62 and Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) advanced 6.14% to close at 18.15.
Conversely, Boston Scientific Corp (NYSE:BSX) recorded the largest decline on the S&P 500, falling 12.53% to 50.42. Qualcomm Incorporated (NASDAQ:QCOM) lost 6.20% to end at 233.40, and Skyworks Solutions Inc (NASDAQ:SWKS) dropped 5.67% to close at 78.69.
The Nasdaq Composite saw extreme single-stock moves among smaller-cap and micro-cap names. Cuprina Holdings Inc (NASDAQ:CUPR) surged 788.00% to 2.22, Astrotech Corp (NASDAQ:ASTC) climbed 457.67% to 13.77, and NetClass Technology Inc (NASDAQ:NTCL) jumped 107.61% to close at 0.55.
At the same time, several Nasdaq-listed names posted steep losses. Verra Mobility Corp (NASDAQ:VRRM) plunged 70.60% to 3.85, High Trend International Group (NASDAQ:HTCO) fell 45.42% to 3.10, and Generation Income Properties Inc (NASDAQ:GIPR) declined 37.63% to 0.28 at the close.
Market breadth on the exchanges was mixed. On the New York Stock Exchange, advancers outnumbered decliners by 1,373 to 1,343, with 117 issues unchanged. On the Nasdaq, 1,743 stocks fell while 1,677 advanced and 192 were unchanged.
Several individual stocks moved to notable price milestones during the session. MGM Resorts reached a 52-week high after climbing 9.08% or 3.49 to 41.94. Boston Scientific fell to a 52-week low, losing 12.53% or 7.22 to 50.42. Verra Mobility traded to an all-time low after a 70.60% drop or 9.23 to 3.85. Astrotech rose to a 52-week high, increasing 457.67% or 11.30 to 13.77, and High Trend International Group traded to an all-time low after a 45.42% decline or 2.58 to 3.10.
Volatility, as measured by the CBOE Volatility Index, eased. The VIX fell 4.23% to 16.29, marking a three-month low in implied volatility for S&P 500 options.
Commodities prices were lower across several contracts. Gold futures for August delivery dropped 1.06%, losing 48.18 to trade at 4,486.82 a troy ounce. In energy markets, crude oil for July delivery fell 4.70% or 4.41 to 89.48 a barrel, and the August Brent contract declined 3.87% or 3.74 to trade at 92.93 a barrel.
In foreign exchange, EUR/USD was essentially unchanged, moving 0.03% to 1.16, while USD/JPY rose 0.14% to 159.53. The US Dollar Index Futures gained 0.04% to trade at 99.14.
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Wednesday's session closed with the major U.S. indexes higher, the Dow reaching a fresh record, mixed sector leadership and notable single-stock volatility on the Nasdaq.