Stocks Ended Higher, Led by Financials and Tech

U.S. stocks closed higher on Wednesday with the financial and technology sectors driving the gains. The Dow Jones Industrial Average rose 56.39 points, or 0.25%, to 22,340.71. The S&P 500 gained 10.20 points, or 0.41%, to 2,507.04. The Nasdaq Composite added 73.10 points, or 1.15%, to 6,453.26.

Oil prices ended higher on Wednesday after U.S. government data revealed an unexpected decline in crude inventories. November West Texas Intermediate crude rose 26 cents, or 0.5%, to settle at $52.14 a barrel. November Brent crude lost 54 cents, or 0.9%, to $57.90 a barrel.

Republican leaders on Wednesday proposed slashing tax rates for the wealthy, the middle class and businesses while preserving popular tax deductions that encourage buying homes and giving to charity, according to a nine-page framework they hope will eventually unify the party behind a proposal to revamp the U.S. tax code.