Stocks Ended Higher, Led by Energy and Tech

U.S. stocks ended solidly higher on Wednesday, as both energy and technology gains led broad markets higher. The Dow Jones Industrial Average gained 182.33 points, or 0.75% to 24,542.54. The S&P 500 added 25.87 points, or 0.75%, to 2,697.79. The Nasdaq Composite rose 73.00 points, or 1.00%, to 7,339.91.

Oil futures jumped nearly 3% on Wednesday, notching another 3 1/2-year high, buoyed by expectations that the U.S. decision to pull out of the Iran nuclear deal and reimpose sanctions will disrupt the flow of crude in the Middle East. June West Texas Intermediate crude oil rallied $2.08, or 3%, to settle at $71.14 a barrel. July Brent crude climbed $2.36, or nearly 3.2%, to $77.21 a barrel.

Apple Inc.’s plan to reinvent cable TV is starting to look a lot like the strategy of its rival Amazon.com Inc. For the first time, Apple plans to begin selling subscriptions to certain video services directly via its TV app, rather than asking users to subscribe to them through apps individually downloaded from the App Store.

Facebook (FB) made waves in the cryptocurrency space on Tuesday when reports surfaced that it is exploring blockchain with a new team run by one of its most visible executives.