Stocks Lifted by Gains in Energy Companies

U.S. stocks ended higher on Wednesday, with the S&P 500 and Dow Jones Industrial Average closing to record levels, partly driven by a gains in energy and materials as oil prices staged a modest rally. The Dow Jones Industrial Average added 33.07 points, or 0.18%, to 17,912.62. The S&P 500 gained 7.78 points, or 0.38%, to 2,074.33. The Nasdaq Composite was up 18.66 points, or 0.39%, to 4,774.47.

Consumer spending advanced across most of the U.S. and employment gains were widespread in October and November, according to the Federal Reserve’s latest survey of regional economic conditions.

U.S. private companies added workers at a fairly brisk clip in November and the services sector grew strongly, suggesting a slowing global economy is having a limited impact on domestic activity. The ADP National Employment Report showed private payrolls increased by 208,000 last month after rising by 233,000 in October.