US benchmark equity indexes are on track to close higher on Wednesday after President Donald Trump exempted automakers for a month from tariffs on Mexico and Canada.
The Dow Jones Industrial Average rose 1.2% to 43,028.6, while the Nasdaq Composite gained 1.5% to 18,5554.7. The S&P 500 was up 1.2% to 5,845.7. Materials posted the highest gains, while energy and utilities declined.
Moderna (MRNA) was among the top performers on the S&P 500 after President Stephen Hoge said during an investor conference that the company continues to expect potential approval of its investigational individualized neoantigen therapy by 2027. Moderna shares were up nearly 15%.
Celanese (CE) shares were up over 11% after its unit Celanese US Holdings launched a tender offer to buy up to 500 million euros ($535.2 million) of its 4.777% senior notes due 2026 and $250 million of its 6.415% senior notes due 2027.
CrowdStrike (CRWD) was the worst performer on the S&P 500 with shares down over 6% after the company issued fiscal Q1 and full-year earnings outlooks below market estimates.
The 10-year US Treasury yield gained 6.5 basis points to 4.3%, while the two-year rate was up 4.1 basis points to about 4%.
April West Texas Intermediate crude oil was down 2.8% at $66.36 a barrel.
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