The EconomyThere were no macroeconomic reports during Wednesday's session. At 4:30 p.m. EDT, the American Petroleum Institute said oil inventories shed 7.26 million barrels in the week ended July 2, which was better than the 3.5 million barrel-decrease that economists polled by Platts had been expecting. The government's supply report, which was delayed by a day because of the July Fourth holiday weekend, is scheduled for 11 a.m. on Thursday.
Company NewsConglomerates and tech shares also showed strong gains alongside the financial sector. On the Dow, Cisco Systems ( CSCO), JPMorgan, American Express ( AXP), General Electric ( GE) and Bank of America ( BAC) were the top performers, while Verizon ( VZ) and AT&T ( T) were the only components to finish in negative territory. Shares of
Commodities and the DollarCrude