Stocks Ended Higher, S&P 500 and Nasdaq at Record Highs

U.S. stocks ended higher on Wednesday, with the S&P 500 and Nasdaq closing at all-time highs, as investors were encouraged by comments from the Federal Reserve and measures China says it has taken to help coronavirus-stricken businesses. The Dow Jones Industrial Average advanced 115.84 points, or 0.40%, to 29,348.03. The S&P 500 rose 15.86 points, or 0.47%, to 3,386.15. The Nasdaq Composite added 84.44 points, or 0.87%, to 9,817.18.

Oil futures posted their highest settlement in nearly three weeks on Wednesday, with Brent oil tallying seventh straight session advance. West Texas Intermediate crude for March delivery CLH20, +2.32% rose $1.24, or 2.4%, to settle at $53.29 a barrel. April Brent crude picked up $1.37, or 2.4%, to $59.12 a barrel.

Minutes from the rate-setting Federal Open Market Committee’s January meeting showed that Fed officials believe the U.S. economy appeared stronger in late January than they had been expecting.

Zillow Group reported better-than-expected quarterly revenue on Wednesday. Revenue from the company’s home unit, which accounts for more than half of its revenue, ballooned to $603.2 million in the fourth quarter ended Dec. 31 from $41.3 million a year earlier. Revenue from its Premier Agent Program, which promotes real estate brokers for a fee, rose 5.6% to $233.5 million.