U.S. stocks bounced back on Wednesday, as the broader stock market averages gained 1.8% to 2.45% across the board. Technology and industrial names led the way higher, while utility stocks lagged on the session.
Elsewhere, the yield on the benchmark, 10-year U.S. Treasury note gained 3.7 basis points, to 2.19%. On the other hand, natural gas fell more than 2% on Wednesday. The S&P 500 volatility index fell more than 16%, to 26.17.
Ariad Pharmaceuticals (ARIA) was the big loser of the session, falling 17%. According to Bloomberg News, Baxalta (BXLT) abandoned takeover talks with the biotech firm. In after-hours action, Five Below (FIVE) is down 9% after reporting quarterly results.
Looking ahead to Thursday morning, Campbell Soup (CPB), Ciena (CIEN), Joy Global (JOYG) and Medtronic (MDT) headline the earnings calendar. On the economic front, we'll get a look at Challenger job cuts, the weekly initial jobless claims and July trade balance, before the opening bell.