Stocks Ended at Record Highs, Dow Over 23,000

U.S. stocks closed at record highs on Wednesday, with the Dow Jones Industrial Average above the 23,000 level for the first time, driven by a jump in IBM after the computing giant hinted at a return to revenue growth. The Dow Jones Industrial Average climbed 160.16 points, or 0.70%, to 23,157.60. The S&P 500 rose 1.90 points, or 0.07%, to 2,561.26. The Nasdaq Composite edged up 0.56 point, or 0.01%, to 6,624.22.

Oil futures ended with a minor gain Wednesday, barely notching a three-week high, supported by a fourth straight weekly decline in U.S. crude supplies and escalating tensions in the Middle East. November West Texas Intermediate crude added 16 cents, or 0.3%, to settle at $52.04 a barrel. Brent crude for December rose 27 cents, or 0.5%, to $58.15 a barrel.

EBay Inc forecast current-quarter adjusted profit that was largely below analysts’ estimates as the company continues to ramp up spending to tweak its e-commerce platforms. EBay forecast fourth-quarter adjusted profit of between 57 cents to 59 cents per share. Analysts on average were expecting a profit of 59 cents per share, according to Thomson Reuters I/B/E/S.