Closing Bell: S&P 500, Nasdaq Score Fresh Records; Dow Holds Above 20,000 Milestone

The Dow held onto solid gains through the session on Wednesday after slaying its 20,000 milestone at the market open. The index ended with its second straight day of triple-digit gains, a streak last seen following the November election. Textron (TXT) - Get Report crumbled after posting a decline in earnings and revenue in its fourth quarter, while announcing the purchase of all-terrain vehicle maker Arctic Cat. The deal is worth just under $250 million. Texas Instruments (TXN) - Get Report rose after reporting a double-digit percentage increase in quarterly profit. Analog chip sales increased 10%, sales of embedded processors rose more than 6%. Crude settled lower after a weekly reading on inventories showed an increase for the third week in a row. Crude stocks rose by 2.8 million barrels, far higher than consensus.