03:36 PM EDT, 06/26/2025 (MT Newswires) -- US benchmark equity indexes are on track to close higher on Thursday amid media reports that President Donald Trump might name a replacement for Fed Chair Jerome Powell ahead of schedule.

The S&P 500 increased 0.8% to 6,140.22, while the Nasdaq Composite was up 1% to 20,172.32. The Dow Jones Industrial Average rose 0.9% to 43,362.14. Among sectors, communications led the gainers while real estate had the steepest decline.

Enphase Energy ( ENPH ) shares were up 12%, the top gainer on the S&P 500, after a Bloomberg report said that lawmakers are talking about changes to a provision in President Donald Trump's spending bill that will cancel tax credits for rooftop panels. Sunrun ( RUN ) , SolarEdge ( SEDG ) , and First Solar ( FSLR ) were up 6.7%, 5% and 3%, respectively.

Coinbase Global ( COIN ) shares jumped 5.9% after Oppenheimer raised its price target on the company's stock to $395 from $293 and maintained an outperform rating.

Equinix ( EQIX ) shares were down 8%, the steepest decline on the S&P 500, after the company said it expects annual revenue growth of 7% to 10% through 2029. BofA Securities, HSBC, and TD Cowen were among the firms to lower their respective price target for the company.

The 10-year US Treasury yield was down 3.4 basis points to 4.26%, while the two-year rate decreased 7.2 basis points to 3.72%.

August West Texas Intermediate crude oil rose 0.7% to $65.40 a barrel.