Investing.com -- Stocks on U.S. equities markets moved broadly higher on Wednesday, as crude oil surged to its highest level on the year creating widespread gains in the energy sector.
Stocks on the Dow Jones Industrial Average closed in the green for the fifth time in six sessions to eclipse the 18,000 level, while the NASDAQ gained more than 0.6% to return above 5,000.
The Dow Jones Industrial Average gained 75.24 or 0.42% to 18,111.94, while the NASDAQ rose 33.73 or 0.68% to 5,011.02, as it approached an all-time record-high.
The S&P 500 Composite index also edged up 10.79 or 0.51% to end the session at 2,106.63. Nine of the 10 sectors on the S&P 500 closed in the green, led by gains in the Energy, Technology and Basic Materials sectors. Stocks in the Consumer Services sector lagged.
Intel Corporation (NASDAQ:INTC) finished as the top performer on the Dow, after analysts downplayed concerns related to the tech giant's flat first quarter earnings released on Tuesday. Intel gained 1.34 or 4.26% to 32.83, one day after dropping more than 3% in after-hours trading. The worst performer wasUnitedHealth Group Incorporated (NYSE:UNH), which lost 2.63 or 2.19% to 117.29 ahead of Thursday's earning report. Analysts expect that first quarter earnings from UNH increased by more than 20% on a year-over-year basis to $1.33, Forbes reported on Wednesday.
Shares in Bank of America Corporation (NYSE:BAC), meanwhile, fell by more than 1% to 15.64, in spite of strong earnings first quarter of 2015. Earnings per share in the U.S. second-largest bank increased by 0.30 for the period that ended on March 31, compared to a 0.05 loss at the same period last year when the bank was reeling from litigation expenses that exceeded $5.5 billion.
Intel was also the biggest gainer on the NASDAQ, ahead of Mattel Inc (NASDAQ:MAT), which gained 0.81 or 3.30% to 25.37. The worst performer was Mylan (NASDAQ:MYL) Pharmaceuticals, after the Pennsylvania-based company reportedly resumed its bid to acquire Irish drugmaker Perrigo for $205 per share. Mylan fell 1.85 or 2.70% on Wednesday to 66.77.
Energy stocks dominated the S&P 500, occupying the majority of the top 10 gainers on the index. Transocean gained more than 10% to 18.90, while CONSOL Energy Inc (NYSE:CNX) and Range Resources Corporation (NYSE:RRC) each rose by more than 6%. The worst performer on the S&P 500 was Precision Castparts Corporation (NYSE:PCP) which fell 7.89 or 3.65% to 208.08.