Stocks finished higher Wednesday. The Dow added 148 points to 25,702 while the S&P 500 gained 19 points to 2,810. The Nasdaq Composite climbed 52 points to 7,643.
The S&P 500 and Nasdaq notched a three-day winning streak as investors assessed the latest economic data updates. A release showed U.S. producer prices rebounded 0.1% in February, after falling for a second consecutive month in January. Core PPI (ex-food and energy) increased 0.1% for an annualized 2.5% gain with both figures falling short of consensus estimates. In a separate report, durable goods orders unexpectedly rose 0.4% in January, the third straight monthly advance and well above the projected 0.4% decline. Mortgage applications increased 2.3% in the most recent week after falling 2.5% in the prior period.
All 11 S&P 500 sectors finished in positive territory. The Healthcare group paced the gains with CVS Health advancing 3.5% to $56.57 following positive analyst comments. Energy stocks also outperformed in sympathy of higher oil prices. In corporate news, Boeing gained 0.5% to $377.14 despite news that the U.S. was the latest country to ground the jet maker’s 737 Max model.
Breadth was positive on issues by 9:4 on the NYSE and 3:2 on the Nasdaq. Composite NYSE volume was more than 3.7 billion shares.
Treasuries were mixed with the yield on the 10-year note up one basis point to 2.61%. In commodities, NYMEX WTI crude jumped 2.6% to $58.37/barrel after a report showed a surprise decline of U.S. crude inventories. COMEX gold added 1.0% to $1,310.70/ounce amid a weaker dollar.