The Dow Jones Industrial Average rose Wednesday as trader pored through the latest quarterly reports and weighed recent moves in interest rates.
The 30-stock index hiked 267.27 points to 35,178.47.
The S&P 500 gained 10.43 points to 4,472.54.
The NASDAQ Composite popped 287.50 points, or 2.2%, to 13,619.66.
The moves came as Netflix fell more than 38% after reporting a loss of 200,000 subscribers in the first quarter. The news led shares of streaming companies Disney, Roku, Warner Bros. Discovery and Paramount to fall, as investors worried about buying technology stocks ahead of earnings. A slew of analysts also slashed their ratings on Netflix following its first-quarter results.
Meanwhile, IBM rose more than 5% following a beat on earnings and revenue, which helped lift the Dow. Procter & Gamble, another Dow component, reported better-than-expected results and hiked its full-year revenue guidance. Its shares gained more than 2%.
Roughly 12% of S&P 500 companies have reported first-quarter earnings thus far, with 80% of those names beating analyst expectations.
Tesla and United Airlines are slated to report after the bell.
Treasury prices dipped sharply, raising yields to 2.87%, from Tuesday’s 2.94%. Treasury prices and yields move in opposite directions.
Oil prices fell 36 cents to $102.20 U.S. a barrel.
Gold prices subsided $6.40 to $1,952.60 U.S. an ounce.