Major US stock indices showed mixed dynamics, as the growth of shares in the base materials sector was partially offset by negative dynamics of the conglomerate and consumer goods sector.

Oil rose more than 3% on Wednesday, reacting to a report from the US Energy Ministry, which reflected a decline in oil reserves, and sources that the top exporter Saudi Arabia wants to see the price of oil closer to $ 100 per barrel. The US Energy Ministry said that in the week of April 7-13, oil reserves fell by 1.071 million barrels to 427.6 million barrels. Analysts had expected a reduction of 1.429 million barrels. Oil reserves in the Cushing terminal fell by 1.1 million barrels, to 34.9 million barrels.

A certain influence on the dynamics of trading was provided by the Fed's Beige Book. The report reported that in all 12 zones of responsibility of the US Federal Reserve Bank in March-April there was an acceleration of economic activity and employment growth, however, the growth rates of wages for the most part remained modest. Meanwhile, companies in many regions reported high demand for labor, which makes it difficult to find qualified employees.

Components of the DOW index finished trading in different directions (17 in the red, 13 in the black). Outsider were the shares of International Business Machines Corporation (IBM, -7.55%). The growth leader was the shares of The Home Depot, Inc. (HD, + 2.90%).

Most sectors of the S & P recorded a rise. The base materials sector grew most (+ 2.0%). The consumer goods sector showed the greatest decrease (-0.4%).

At closing:

Dow 24,748.07 -38.56 -0.16%

S&P 500 2,708.64 +2.25 +0.08%

Nasdaq 100 7,295.24 +14.14 +0.19%

U.S. stock-index futures rose on Wednesday, as the latest slew of solid quarterly results, including Morgan Stanley (MS; +1.8%), added to optimism about the U.S. corporate earnings season.

Global Stocks:

(company / ticker / price / change ($/%) / volume)

McDonald's (MCD) target lowered to $165 at Stifel

Altria (MO) downgraded to Neutral from Buy at Citigroup

Facebook (FB) downgraded to Mixed from Positive at OTR Global

Morgan Stanley (MS) reported Q1 FY 2018 earnings of $1.45 per share (versus $1.00 in Q1 FY 2017), beating analysts' consensus estimate of $1.25.

The company's quarterly revenues amounted to $11.077 bln (+13.7% y/y), beating analysts' consensus estimate of $10.369 bln.

MS rose to $54.20 (+1.80%) in pre-market trading.

IBM (IBM) reported Q1 FY 2018 earnings of $2.45 per share (versus $2.38 in Q1 FY 2017), beating analysts' consensus estimate of $2.42.

The company's quarterly revenues amounted to $19.072 bln (+5.1% y/y), beating analysts' consensus estimate of $18.803 bln.

The company reaffirmed guidance for FY 2018, projecting EPS of at least $13.80 versus analysts' consensus estimate of $13.84.

IBM fell to $152.75 (-5.07%) in pre-market trading.

European stocks logged the best close in about seven weeks, taking the lead from an upbeat session the prior day in the U.S., as attention shifted from geopolitical concerns to the earnings season. U.K. stocks erased an earlier loss and swung higher, after a mixed reading on the country's labor market sent the pound lower.

U.S. stocks rallied on Tuesday, with major indexes closing at the highest levels in about a month as the latest round of corporate earnings supported the thesis that valuations are supported by economic activity. The day's gains were broad, with all 11 S&P 500 sectors ending in solidly higher territory, although the technology and consumer-discretionary groups saw the biggest advance on the day.

Asian equities Wednesday largely built on gains in the U.S. and Europe the day before, but Chinese stocks continued to lag behind on concerns about trade and the country's economy. Equities there started higher, but the selling resumed by midmorning, led by small-caps as they extended Tuesday's selloff.