The S&P 500 gained 0.45% on Tuesday, the Dow Jones Industrial Average rose 0.44%, and the Nasdaq rose 0.74%. The Dow and S&P 500 both closed at records.
Banks outperformed Tuesday on the prospect of an interest rate hike. Goldman Sachs Group Inc. (GS) led the Dow higher, while Citigroup Inc. (C) , Wells Fargo & Co. (WFC) , Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) had healthy gains.
2. -- In the U.S. on Wednesday, the economic calendar also includes the Consumer Price Index for May at 8:30 a.m., Retail Sales for May at 8:30 a.m., Business Inventories for April at 10 a.m., and Oil Inventories for the week ended June 9, at 10:30 a.m.
The declines followed data from OPEC on Tuesday which indicated that member states increased production in May, despite reaching an agreement to trim output. In its regular monthly oil market report, OPEC said its crude output pace in May rose by 336,000 barrels a day to just more than 32.1 million. The figures added to market pressure after a report from the American Petroleum Institute that estimated domestic crude stocks rose by a more-than-expected 2.8 million barrels in the week ended June 9.
Meanwhile, the International Energy Agency said Wednesday the current supply gut will continue through 2017, largely because U.S. oil producers have ramped up production.
4. -- Boeing Co. (BA) said Tuesday it would lay off 50 executive positions by the end of 2017 at it restructures its defense, space and security business.
"We need to be an agile organization that is more responsive to customers' needs and committed to continually improving productivity," said Leanne Caret, CEO and president of Boeing's defense, space and security division.
Boeing also said the division would be divided into smaller units -- seven instead of the present five.
Boeing's defense, space and security accounted for almost one-third of the airplane maker's revenue in 2016.
The stock rose 0.5% in premarket trading on Wednesday.
5. -- David Bonderman, a director at Uber Technologies Inc., resigned Tuesday night from the board of the ride-hailing service after he made a remark that was seen as being offensive to women.
The remark from Bonderman came during a staff meeting on Tuesday to discuss Uber's plans to transform itself following a probe into sexual harassment at the company.
Bonderman said in a statement sent to Reuters that he didn't want his comments to create distraction for Uber, which is working to rid its culture of sexual harassment and discrimination.
Bonderman's resignation came the same day that Uber founder and CEO Travis Kalanick said he would take a leave of absence. Kalanick didn't say how long his leave of absence would last, but noted in a letter to employees that he would use the time to focus on personal growth and building a "world-class leadership team." He added that he takes full responsibility for Uber's past and future.
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