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U.S. equity markets ticked higher Wednesday as investors digested the Federal Reserve’s latest assessment of the U.S. economy. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34600.38 +25.07 +0.07%
SP500 S&P 500 4208.12 +6.08 +0.14%
I:COMP NASDAQ COMPOSITE INDEX 13756.327211 +19.85 +0.14%

The Dow Jones Industrial Average added 25 points, or 0.07%, while the S&P 500 and the Nasdaq Composite ticked up 0.15% and 0.14%, respectively as all three of the major averages inched closed to all-time highs. 

The quiet session came as the Federal Reserve’s Beige Book showed optimism over the outlook for the U.S. economy while noting pricing pressures and the difficulties companies were having in finding workers.  

This as West Texas Intermediate crude oil topped $69 for the first time in nearly three years before paring its gains. The energy component closed up $1 at $68.71 per barrel.

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 46.91 +0.58 +1.25%
XLE ENERGY SELECT SECTOR SPDR ETF 55.24 +1.00 +1.84%

BIDEN SUSPENDS ALASKA OIL, GAS LEASES IN ARCTIC NATIONAL WILDLIFE REFUGE  

In stocks, JBS SA says the “vast majority” of its nine U.S. plants will be up and running on Wednesday after the meat producer took them offline following a cybersecurity attack. The company produces about 25% of U.S. beef supplies. 

Ticker Security Last Change Change %
JBSAY JBS 12.1 -0.04 -0.33%

AMC Entertainment Holdings Inc. shares hit a record following news that hedge fund Mudrick Capital on Tuesday flipped the 8.5 million shares it had acquired earlier in the day for a profit. AMC’s stock has soared 165% since the beginning of last week. The company also announced new perks for retail investors including a communication portal and free popcorn and screenings. The stock was briefly halted by the New York Stock Exchange. 

Another so-called meme stock, BlackBerry Ltd., also saw huge gains. 

AMC THROWS RETAIL INVESTORS A BONE

Ticker Security Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 64.87 +32.97 +103.35%
BB BLACKBERRY LTD. 15.22 +3.67 +31.79%

In earnings, Zoom Video Communications Inc. reported earnings and revenue that blew past Wall Street estimates but warned the strong growth experienced during the pandemic was set to slow. 

Ticker Security Last Change Change %
ZM ZOOM VIDEO COMMUNICATIONS, INC. 327.11 -0.61 -0.19%
AAP ADVANCE AUTO PARTS 190.58 -4.22 -2.17%

Advance Auto Parts Inc said quarterly profit nearly tripled versus a year ago as sales grew by a record 23.4%. The company raised both its full-year sales and full-year same-store sales outlook. 

In deals, Etsy Inc. agreed to acquire privately-owned fashion marketplace Depop for $1.63 billion. 

Ticker Security Last Change Change %
ETSY ETSY, INC. 175.14 +11.68 +7.15%

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Overseas bourses were mixed. 

European markets rallied across the board with Germany’s DAX 30 rising 0.23%, Britain’s FTSE 100 advancing 0.39% and France’s CAC 30 climbing 0.49%. 

In Asia, Japan’s Nikkei 225 jumped 0.46% while Hong Kong’s Hang Seng index and China’s Shanghai Composite fell 0.58% and 0.76%, respectively.