Stocks Ended Higher, Oil Futures Climbed

U.S. stocks ended sharply higher on Wednesday after S&P 500 briefly touched record high. The Dow Jones Industrial Average added 289.93 points, or 1.05%, to 27,976.84. The S&P 500 rose 46.66 points, or 1.40%, to 3,380.35. The Nasdaq Composite gained 229.44 points, or 2.13%, to 11,012.24.

Oil futures climbed to end at a five-month high on Wednesday, as U.S. government data showed that domestic crude supplies fell for a third week in a row. West Texas Intermediate crude for September delivery gained $1.06, or nearly 2.6%, to settle at $42.67 a barrel. October Brent crude settled 93 cents, or 2.1%, higher at $45.43 a barrel.