Stocks Closed Higher, Dow Back above 18,000

U.S. stocks closed higher on Wednesday, with the Dow ended above 18,000 for the first time since April as declines in the dollar lifted some commodity-related shares and boosted the outlook for multinationals. The Dow Jones Industrial Average rose 66.77 points, or 0.37%, to 18,005.05. The S&P 500 advanced 6.99 points, or 0.33%, to 2,119.12. The Nasdaq Composite gained 12.89 points, or 0.26%, to 4,974.64.

The U.S. dollar weakened Wednesday to its lowest level in a month as rising oil prices supported its commodity-linked rivals and deteriorating expectations for a summer interest-rate hike drained some of the greenback’s vitality.

Oil futures ended solidly higher Wednesday, with the U.S. benchmark closing above $51 a barrel for the first time since July 2015. West Texas Intermediate crude for July delivery rose 87 cents, or 1.7%, to finish at $51.23 a barrel.

Morgan Stanley has agreed to pay a $1 million fine to settle U.S. Securities and Exchange Commission civil charges that security lapses at the Wall Street bank enabled a former financial adviser to tap into its computers and take client data home, the regulator said on Wednesday.

Google parent Alphabet Inc. wants to beam high-speed internet wirelessly to homes, using technology that it says is cheaper than laying cables.

Oppenheimer & Co agreed to pay nearly $3 million in fines and restitution to settle U.S. regulatory charges that it improperly sold risky exchange-traded funds to risk-averse elderly customers and other retail investors.