U.S. stocks ended higher after the close on Wednesday, with strength concentrated in the Technology, Financials and Utilities sectors driving broad gains across the major benchmarks.
At the New York Stock Exchange close, the Dow Jones Industrial Average was up 0.63%. The S&P 500 finished higher by 0.81%, and the NASDAQ Composite advanced 1.26%.
Notable movers on the Dow
Among the Dow Jones components, UnitedHealth Group (NYSE:UNH) was the session's top gainer, rising 3.74% or 10.25 points to close at 284.20. International Business Machines (NYSE:IBM) added 3.58% or 8.22 points to end at 237.54. Salesforce Inc (NYSE:CRM) also posted a notable gain, finishing up 3.41% or 6.33 points to 191.75.
At the other end of the index, Home Depot Inc (NYSE:HD) was the weakest Dow component, falling 2.32% or 8.91 points to close at 375.57. Sherwin-Williams Co (NYSE:SHW) declined 2.05% or 7.48 points to 357.25, and Boeing Co (NYSE:BA) slipped 1.30% or 3.03 points to 230.36.
S&P 500 standouts
On the S&P 500, the largest percentage advances included Axon Enterprise Inc (NASDAQ:AXON), which climbed 17.55% to 520.18. Super Micro Computer Inc (NASDAQ:SMCI) rose 7.87% to finish at 33.58, and FMC Corporation (NYSE:FMC) gained 7.85% to close at 14.97.
Conversely, a number of S&P 500 names posted steep declines. GoDaddy Inc (NYSE:GDDY) fell 14.28% to 79.12 in late trade. First Solar Inc (NASDAQ:FSLR) lost 13.61% to settle at 210.12, and CoStar Group Inc (NASDAQ:CSGP) declined 8.89% to 44.78.
Wider moves on the NASDAQ Composite
The NASDAQ saw extreme moves among smaller and microcap listings. Xwell Inc (NASDAQ:XWEL) surged 221.43% to 1.21. Braiin Ltd (NASDAQ:BRAI) jumped 79.35% to 24.75, and Larimar Therapeutics Inc (NASDAQ:LRMR) gained 60.98% to close at 5.94.
Several NASDAQ names posted dramatic losses. CASI Pharmaceuticals Inc (NASDAQ:CASI) tumbled 74.06% to 0.21 in late trade. Zenvia Inc (NASDAQ:ZENV) lost 66.13% to settle at 0.28, and Oddity Tech Ltd (NASDAQ:ODD) fell 49.26% to end at 14.73.
Market breadth and notable lows and highs
Rising issues outnumbered decliners on both exchanges. On the NYSE, 1,566 stocks advanced and 1,153 declined, while 93 were unchanged. On the NASDAQ, 2,217 rose, 1,120 fell and 201 were unchanged.
Several individual shares reached multiday or all-time extremes during the session. GoDaddy Inc (NYSE:GDDY) fell to a 52-week low, dropping 14.28% or 13.18 to 79.12. CoStar Group Inc (NASDAQ:CSGP) reached a five-year low, falling 8.89% or 4.37 to 44.78. CASI Pharmaceuticals Inc (NASDAQ:CASI) and Zenvia Inc (NASDAQ:ZENV) each fell to all-time lows, with CASI off 74.06% or 0.59 to 0.21 and ZENV down 66.13% or 0.55 to 0.28. Oddity Tech Ltd (NASDAQ:ODD) also fell to an all-time low, losing 49.26% or 14.30 to 14.73. By contrast, Larimar Therapeutics Inc (NASDAQ:LRMR) rose to a 52-week high, gaining 60.98% or 2.25 to 5.94.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures implied volatility of S&P 500 options, fell 8.29% to 17.93.
In commodities, Gold Futures for April delivery rose 0.19% or 10.09 to 5,186.39 a troy ounce. Crude oil for April delivery fell 0.23% or 0.15 to 65.48 a barrel, while the May Brent oil contract gained 0.28% or 0.20 to trade at 70.78 a barrel.
In currency markets, EUR/USD was unchanged 0.29% to 1.18, and USD/JPY rose 0.37% to 156.41. The US Dollar Index Futures declined 0.12% to 97.66.
What's next for traders
Market participants closed the session with broad gains across major indexes, mixed performance among individual large-cap names and significant volatility among smaller-cap listings. The retreat in the VIX accompanied by modest moves in commodities and currencies rounds out the picture of the market at Wednesday's close.