U.S. stocks reversed course on Wednesday and ended with the best result in four years. The broader market averages gained 3.9% to 4.25% across the board, led by technology and health care names.
Elsewhere, the yield on the benchmark, 10-year U.S. Treasury note jumped 11.3 basis points, to 2.184%. The U.S. dollar index (DXY) moved 0.7% higher, while the CBOE S&P 500 Volatility index (VIX) fell more than 16%, to 30.00.
Cameron International (CAM) was the big winner on Wednesday, gaining 41%. The oil services firm received a $15 billion takeover bid from Schlumberger (SLB). Also, Express (EXPR) moved nearly 20% higher, after posting quarterly results.
In after-hours action, Guess (GES) is down 4%, after announcing quarterly results. On the other hand, Workday (WDAY) is up more than 4%, after posting better-than-expected earnings.
Looking ahead to Thursday morning, Dollar General (DG), J.M. Smucker (SJM) and Tiffany (TIF) headline the earnings calendar. On the economic front, we'll get the first revision to second-quarter GDP and the weekly initial jobless claims, before the opening bell.