Home Depot Inc (HD) joined the biggest gainers among the Dow components after its shares increased 1.4%, following better-than-expected earnings results. The index increased 0.3% on Wednesday due to a late rebound in oil prices, which had a positive impact on material and energy stocks.
The Energy Information Administration reported that overall gasoline demand increased more than 5% year-over-year in the past four weeks. The Dow moved upward following gains in United Technologies Corp (UTX) and Apple Inc (AAPL) by 2.2% and 1.5%, respectively.
Elsewhere, Kraft Heinz Co (KHC) beat on earnings and revenue as the food giant continues with its savings program while also expanding organic product margins. Fourth-quarter earnings were 62 cents a share on revenue of $7.12 billion.
Anheuser Busch Inbev SA/NV (BUD) missed forecasts on revenue facing pressure from falling currencies in emerging markets. But the Belgium brewer said it’s still on track to take over London-based SABMiller Plc (SUB.L) later this year.