Stocks Ended Firmly Higher

U.S. stocks ended firmly higher on Wednesday, amid U.S. President Donald Trump said he issued an executive order grounding all Boeing 737 Max jets. The Dow Jones Industrial Average rose 148.23 points, or 0.58%, to 25,702.89. The S&P 500 advanced 19.40 points, or 0.69%, to 2,810.92. The Nasdaq Composite gained 52.37 points, or 0.69%, to 7,643.41.

Oil futures rallied Wednesday to settle at their highest level since November as weekly data revealed a surprise decline in U.S. crude stockpiles and a bigger-than-expected drop in gasoline inventories. April West Texas Intermediate crude rose $1.39, or 2.4%, to end at $58.26 a barrel. May Brent crude gained 88 cents, or 1.3%, to $67.55 a barrel.

U.S. President Donald Trump said he issued an executive order grounding all Boeing 737 Max jets. “We’re gonna be issuing an emergency order of prohibition to ground all flights of the 737 max 8 and the 737 max 9 and planes associated with that line,” Trump told reporters at the White House on Wednesday.