Stocks Ended Higher, Apple and Amazon hit Record Highs

U.S. stocks ended higher on Wednesday as tech stocks continued their run of outperformance, with shares of Apple and Amazon hitting record highs. The Dow Jones Industrial Average rose 177.10 points, or 0.68%, to 26,067.28. The S&P 500 added 24.62 points, or 0.78%, to 3,169.94. The Nasdaq Composite gained 148.61 points, or 1.44%, to 10,492.50.

Oil futures gained on Wednesday, as a rise in U.S. crude imports and a weekly fall in gasoline supplies suggested an improvement in energy demand, even as domestic crude inventories posted a surprise climb. West Texas Intermediate crude for August climbed by 28 cents, or 0.7%, to settle at $40.90 a barrel. Brent oil for September tacked on 21 cents, or 0.5%, at $43.29 a barrel.

Gilead Sciences Inc said on Wednesday it has started an early-stage study of its antiviral COVID-19 treatment remdesivir that can be inhaled, for use outside of hospitals.