Stocks Ended Higher, Dow above 26,000 for First Time

U.S. stocks closed higher on Wednesday, with major indexes ending at records and the Dow closing above 26,000 for the first time. The Dow Jones Industrial Average rose 322.79 points, or 1.25%, to 26,115.65. The S&P 500 advanced 26.14 points, or 0.94%, to 2,802.56. The Nasdaq Composite gained 74.59 points, or 1.03%, to 7,298.28.

Oil futures settled higher Wednesday, buoyed by expectations for a ninth straight weekly drop in U.S. crude supplies and risks to production in Nigeria. February West Texas Intermediate oil added 24 cents, or 0.4%, to settle at $63.97 a barrel. Brent crude for March rose 23 cents, or 0.3% to $69.38 a barrel.

U.S. factory production rose for a fourth straight month in December, capping the strongest quarter since 2010 and underscoring a resurgence in manufacturing that’s primed for further advances, Federal Reserve data showed Wednesday.