The major U.S. indices all closed trading in the green Wednesday, with the S&P 500 touching its highest level since March 14.
The Dow Jones Industrial Average climbed 1.39%, or 344 points to 25,144, while the S&P 500 gained 0.85%, or 23 points to 2,772, and the Nasdaq rose 0.67%, or 51 points to 7,689.
ZTE Reportedly Reaches Deal to Lift U.S. Ban
ZTE, the Chinese cellphone maker, has reportedly reached a deal with U.S. officials to lift a ban that was imposed last month by the U.S. Commerce Department.
ZTE was originally sanctioned for allegedly violating sanctions against Iran and North Korea, but President Trump, who has been hawkish on trade policy, hinted that he would lift the ban last month.
The President tweeted that "too many jobs" in China were being lost due to the ban while urging the Commerce Department to come up with a solution.
Tesla Is Having Its Best Day of Trading in Years
Positive news about Tesla (TSLA) Model 3 production at the company's annual shareholder meeting this week is causing the stock to have its best day of trading in more than 2 years.
Shares of the electric vehicle maker were up 7.7% Wednesday afternoon after CEO Elon Musk said that the production ramp for the Model 3 will help the company meet its target of 5,000 vehicles produced per week.
Musk says that Tesla is currently producing about 500 Model 3s a day.
Ticketfly Hack Exposes Data of 26 Million Users
Hackers were able to access the names, phone numbers, home and billing addresses of 26 million Ticketfly users, according to hacking tracker Have I Been Pwned.
The ticketing website was blacked out last week with a message reading "Ticketfly HacKed by IsHaKdZ." The website has been offline since last week. The message that now appears on the website reads:
We're working to bring ticketfly.com back up as soon as possible. In the meantime, we encourage you to keep checking in on your favorite venue/promoters' websites, social media channels, or box offices. Shows are on and tickets are available online and onsite. Please visit ticketf.ly/update for additional information. You can log into your Ticketfly account atticketfly.com/account.
The hacker reportedly decided to deface the website after Ticketfly refused to pay a ransom of one bitcoin in order for the hacker to reveal a vulnerability in the company's website.
Northrop Grumman's Purchase of Orbital OK'd by Regulators
Northrop Grumman (NOC) shares were up nearly 1% premarket Wednesday after U.S. regulators provided approval for the weapon maker's $7.8 billion purchase of solid rocket motor supplier Orbital ATK (OA) .
The deal is approved on the condition that Northrop supplies the solid rocket motors to competitors for missile contracts and separates the two companies' operations with a firewall, the Federal Trade Commission said in a statement.
The EU previously approved the deal in February after Northrop announced the all-cash purchase last September.
A day after muted trading resulted in the Dow Jones Industrial Average falling and the Nasdaq closing at a new record high, U.S. futures were climbing across the board Wednesday.
Dow futures were up 0.48%, indicating an open 119 points higher, while S&P futures climbed 0.21%, indicating an open 6 points higher, and Nasdaq futures rose 0.15%, indicating an open 11 points higher.
Asian markets had a good day of trading, with the big three all closing the day in the green. The Shanghai Composite rose 0.03%, while the Hang Seng gained 0.53% and the Nikkei rose 0.38%.
In Europe, the CAC 40 was the lone major market trading in the red, falling 0.05%, while the DAX gained 0.31% and the FTSE 100 rose 0.42% with about four hours left in trading.