Stocks Ended Higher on China Trade Deal Optimism

U.S. stocks closed solidly higher on Wednesday as investors weighed U.S.-China trade updates against an impeachment inquiry of President Donald Trump. The Dow Jones Industrial Average rose 163 points, or 0.6%, to 26,971. The S&P 500 gained 18.27 points, or 0.62%, to 2,984.87. The Nasdaq Composite climbed 83.76 points, or 1.05%, to 8,077.38.

Oil futures finished with a loss on Wednesday as U.S. government data revealed a second weekly climb in domestic crude inventories. West Texas Intermediate crude for November delivery fell 80 cents, or 1.4%, to settle at $56.49 a barrel. November Brent crude lost 71 cents, or 1.1%, to $62.39 a barrel.