Stocks Ended Higher on Vaccine Hopes, Upbeat Earnings

U.S. stocks ended higher on Wednesday as corporate earnings came in better than expected and positive developments around a coronavirus vaccine helped to buoy investor sentiment. The Dow Jones Industrial Average gained 227.51 points, or 0.85%, to 26,870.10. The S&P 500 rose 29.04 points, or 0.91%, to 3,226.56. The Nasdaq Composite gained 61.92 points, or 0.59%, to 10,550.49.

Oil futures climbed on Wednesday to mark their highest settlement in more than four months, buoyed by the biggest weekly decline in U.S. crude supplies so far this year. West Texas Intermediate crude for August delivery rose 91 cents, or 2.3%, to settle at $41.20 a barrel. September Brent crude ended 89 cents, or 2.2%, higher at $43.79 a barrel.