U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 350 points on Wednesday.

The Dow traded up 0.75% to 47,466.81 while the NASDAQ rose 0.93% to 23,240.04. The S&P 500 also rose, gaining, 0.82% to 6,821.37.

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Leading and Lagging Sectors

Information technology shares jumped by 1.5% on Wednesday.

In trading on Wednesday, communication services stocks fell by 0.4%.

Top Headline

U.S. crude oil inventories jumped by 2.77 million barrels in the week ending Nov. 21, following a 3.426 million-barrel decline in the previous week, and versus market estimates of a 0.5-million decrease.

Equities Trading UP

Arrowhead Pharmaceuticals Inc ( ARWR ) shares shot up 19% to $55.90 after the company reported better-than-expected quarterly financial results.

Shares of Amber International Holding Limited ( AMBR ) got a boost, surging 58% to $2.4901 after the company reported better-than-expected third-quarter sales results and a $50 million buyback.

Petco Health and Wellness Company Inc ( WOOF ) shares were also up, gaining 16% to $3.44 after the company reported better-than-expected third-quarter EPS results.

Equities Trading DOWN

Nutanix Inc ( NTNX ) shares dropped 18% to $48.41 as the company reported worse-than-expected first-quarter financial results and cut its FY26 sales guidance below estimates on Tuesday.

Shares of Ambarella Inc ( AMBA ) were down 15% to $77.13 following third-quarter results.

Zscaler Inc ( ZS ) was down, falling 10% to $261.36 after the company reported first-quarter financial results.

Commodities

In commodity news, oil traded up 0.1% to $58.01 while gold traded up 1.4% at $4,196.60.

Silver traded up 4.3% to $53.135 on Wednesday, while copper rose 2.1% to $5.1955.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 1.12%, while Spain's IBEX 35 Index rose 1.35%. London's FTSE 100 rose 0.94%, Germany's DAX 40 gained 1.03% and France's CAC 40 rose 0.90% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Wednesday, with Japan's Nikkei gaining 1.85%, Hong Kong's Hang Seng gaining 0.13%, China's Shanghai Composite falling 0.15% and India's BSE Sensex gaining 1.21%.

Economics

U.S. durable goods orders increased 0.5% month-over-month in September compared to a revised 3.0% gain in August.

U.S. initial jobless claims declined by 6,000 from the previous week to 216,000 in the week ending Nov. 22.

The Chicago PMI declined to 36.3 in November from 43.8 in the previous month and versus market expectations of 44.3.

U.S. crude oil inventories jumped by 2.77 million barrels in the week ending Nov. 21, following a 3.426 million-barrel decline in the previous week, and versus market estimates of a 0.5-million decrease.

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