Stocks rose on Wednesday despite a continued surge in oil prices surged amid the intensifying conflict between Russia and Ukraine.
The Dow Jones Industrial Average gained 228 points, or 0.7%. The S&P 500 and Nasdaq Composite added about 0.4% and 0.2%, respectively.
Oil and gas stocks and chip stocks rose, while silver and gold stocks fell.
Salesforce rose more than 3%, its fourth quarter revenue increased by 26% year-on-year, and the Q1 and full year revenue guidelines of fiscal 2023 exceeded market expectations.
Nordstrom rose more than 26%, and its fourth quarter profit soared fivefold to $200 million by the end of January.
Sofi rose more than 15%, and its new members increased by 39% to 523000 in the fourth quarter. It is expected that the adjusted revenue growth in the first quarter will be as high as 55%.
Corporate news helped push the market higher. Shares of Ford popped 4.6% in after the automaker announced it would split its electric vehicle and legacy production businesses into two separate units.