Dow Jones extended its gains after the opening, closing at a historic high of 43,077 points, up 337 points or 0.8%. The s&p 500 index rose 27 points or 0.5%, closing at 5,842 points, while the nasdaq rose 51 points or 0.3% to 18,367.
About 50 s&p 500 index component stocks have already reported third-quarter earnings, with 79% exceeding expectations. Morgan Stanley (MS.US) exceeded Wall Street's expectations for both earnings and revenue in the third quarter, with the stock rising about 7%. United Airlines (UAL.US) exceeded expectations for both earnings and revenue last quarter, with the stock rising 12%. American Airlines (AAL.US) announced its first share buyback since before the outbreak, involving a $1.5 billion share buyback, leading the stock to rise over 7%.
Nvidia (NVDA.US) rebounded on Wednesday after closing about 5% lower yesterday, closing more than 3% higher. Dutch chipmaker ASML (ASML.US) unexpectedly released disappointing third-quarter earnings a day early, causing the stock price to continue falling on Wednesday, down over 6%, making it the worst performing nasdaq 100 component stock.