Market Recap: U.S. Stocks Close Higher, Amazon and Apple Lead Dow, and Consumer Discretionary Sector Outperforms

In the last hour, major averages closed in the green as U.S. stocks finished Wednesday’s trading session higher. The S&P 500 and Dow Jones Industrial Average inched up 0.04% and 0.16%, respectively, while the Nasdaq Composite gained 0.49%. Amazon, Apple, and Home Depot were among the top performers, with Amazon rising 4.1% and Apple and Home Depot gaining over 1% each. On the other hand, Amgen declined 1.2%, making it the worst performer in the 30-stock index.

In the consumer discretionary sector, Tesla, Amazon, and Carnival outperformed, with Tesla jumping more than 4% and Amazon and Carnival up more than 3%. However, all other sectors in the broad market were negative, with energy being the biggest decliner, falling 0.8%.

In other news, Barnes Group, a 167-year-old manufacturer of aerospace and industrial parts, surged after reports suggested the company is exploring strategic alternatives, including a possible sale. FedEx also had a strong day, heading for its best day in more than three decades after beating Wall Street expectations for its fiscal fourth quarter.

Overall, the market showed signs of positivity, with some stocks hitting new 52-week highs and analysts raising price targets for companies like Nvidia. Despite some concerns about the sustainability of the bull market, there were encouraging signs for the broader market health.