(CNBC) — U.S. stocks closed higher on Wednesday as oil hit highs for the year and investors continued to digest financial earnings and economic reports.
"The big highlight for today is energy," said Paul Nolte, portfolio manager at Kingsview Asset Management. "On the whole, the earnings numbers are a little better than expectations and the economic data is keeping the Fed on the sidelines."
Commodities settled at key levels, with crude oil ending up $3.10, or 5.82 percent, at $56.39 a barrel, its highest close of the year. Gold futures settled up $8.70 at $1,201.30 an ounce.
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