Stocks Ended Higher as Banks, Tech Rallied

U.S. stocks ended higher on Wednesday, fueled by a surge in financial and tech shares. The Dow Jones Industrial Average gained 143.95 points, or 0.68%, to 21,454.61. The S&P 500 climbed 21.31 points, or 0.88%, to 2,440.69. The Nasdaq Composite rose 87.79 points, or 1.43%, to 6,234.41.

Oil prices settled higher Wednesday, as U.S. government data revealed a sizable weekly decline in domestic crude production. August West Texas Intermediate crude added 50 cents, or 1.1%, to settle at $44.74 a barrel. Brent oil for August delivery rose 66 cents, or 1.4%, to $47.31 a barrel.

Pier 1 Imports Inc. (PIR) reported its first-quarter loss narrowed $3 million, or 4 cents a share, from $6 million, or 7 cents a share, a year earlier. Revenue fell to $409.5 million from $418.4 million.

Blue Apron Holdings Inc (APRN) sharply lowered the expected price range for its initial public offering on Wednesday, as Amazon.com’s (AMZN) $13.7 billion deal to buy Whole Foods Market Inc (WFM) weighed on prospects for the meal-kit industry.