U.S. markets showed solid momentum midway through Wednesday's session, with the Dow Jones climbing more than 250 points as investors digested a mix of corporate earnings and economic data.

The Dow traded up 0.61% to 47,765.87 while the NASDAQ rose 0.07% to 23,430.56. The S&P 500 gained 0.22% to 6,844.57, reflecting broad-based but measured optimism across major indexes.

Sector Performance: Energy Shines, Tech Stumbles

Energy shares jumped 1.2% on Wednesday, leading the pack as oil prices climbed throughout the session. On the flip side, information technology stocks fell 0.6%, dragging on the tech-heavy NASDAQ's performance.

Macy's Delivers a Retail Surprise

Macy's Inc. (M) posted better-than-expected sales and profit for the third quarter, offering a bright spot in the retail landscape. The department store chain reported quarterly sales of $4.713 billion, down 0.6% year over year but comfortably beating analyst expectations of $4.621 billion. The company also reported third-quarter adjusted earnings per share of 9 cents.

Big Movers on the Upside

Capricor Therapeutics, Inc. (CAPR) shares exploded 291% to $24.87 after the company announced topline results from its Phase 3 HOPE-3 Trial evaluating deramiocel cell therapy for Duchenne Muscular Dystrophy met its primary endpoint and secondary cardiac endpoint.

Shares of Virax Biolabs Group Limited (VRAX) surged 71% to $0.6709 after the company announced clinical progress and indicated it intends to report clinical data from its UK PAIS trial in 2026.

Aeva Technologies, Inc. (AEVA) shares gained 16% to $12.58 after the company announced it was selected by a Top European Passenger OEM as its exclusive LiDAR supplier for its global series-production vehicle platform to enable Level 3 automated driving.

Notable Decliners

CIMG Inc. (IMG) shares dropped 35% to $0.1200 after the company announced a 20-for-1 reverse stock split, a move that typically signals financial distress.

Shares of ADC Therapeutics SA (ADCT) fell 29% to $3.2499 after the company reported updated data from its LOTIS-7 trial evaluating Zynlonta in combination with Glofitamab in relapsed/refractory DLBCL patients.

Pure Storage, Inc. (PSTG) tumbled 26% to $69.99 following third-quarter results that apparently disappointed investors.

Commodities Rally Across the Board

Oil traded up 1% to $59.21 while gold climbed 0.6% to $4,246.90, continuing its recent strength. Silver traded up 0.4% to $58.935 on Wednesday, while copper posted an impressive 3% gain to $5.4000.

Global Markets Mixed

European shares were mostly higher during Wednesday's session. The eurozone's STOXX 600 rose 0.16%, while Spain's IBEX 35 Index jumped 1.55%. London's FTSE 100 fell 0.02%, Germany's DAX 40 gained 0.08%, and France's CAC 40 rose 0.09%.

Asian markets closed mixed on Wednesday, with Japan's Nikkei gaining 1.14%, Hong Kong's Hang Seng falling 1.28%, China's Shanghai Composite falling 0.51%, and India's BSE Sensex slipping 0.04%.

Economic Data Roundup

Wednesday brought a slate of economic indicators that painted a mixed picture. The S&P Global services PMI declined to 54.1 in November from 54.8 in the prior month, revised lower from the preliminary reading of 55. The S&P Global composite PMI fell to 54.2 in November from 54.6 in the previous month and down from the preliminary level of 54.8.

U.S. industrial production increased 0.1% month-over-month in September compared to a revised 0.3% decline in August. Meanwhile, private businesses in the U.S. lowered 32,000 jobs in November compared to a revised 47,000 gain in the previous month.

U.S. crude oil inventories rose by 0.574 million barrels in the week ending Nov. 28, compared to a 2.774 million barrel gain in the previous week.