Stocks Ended Higher, S&P 500 Touched 3,000

U.S. stocks ended higher on Wednesday, after remarks from Federal Reserve Chair Jerome Powell’s congressional testimony suggested the central bank remained open to a near-term rate cut. The Dow Jones Industrial Average rose 76.71 points, or 0.29%, to 26,860.20. The S&P 500 advanced 13.44 points, or 0.45%, to , with intraday high of 3,002.89. The Nasdaq Composite gained 60.80 points, or 0.75%, to 8,202.53.

Oil futures rallied Wednesday to settle at their highest since May, with U.S. prices up a fifth straight session for the longest streak of gains since February. August West Texas Intermediate crude rose $2.60, or 4.5%, to settle at $60.43 a barrel. September Brent climbed $2.85, or 4.4%, to $67.01 a barrel.