Oil refiners tumbled after the Commerce Department approved the export of a minimally processed form of oil. Producers rallied on the news.
A slew of broadcasters are rallying after the Supreme Court ruled against tech firm Aereo, which enables users to stream broadcast television networks over the Internet.
Energy stocks are moving higher, and four big names like Halliburton and Anadarko touched record highs.
The Dow Jones Transportation Average continues to drive to new highs, hitting its fourth in a row and its 16th for the year.
Johnson Controls is spinning off its automotive interiors business into a joint venture with a Chinese partner, and rival auto-parts makers are rallying on word of the deal.
The closely-watched index of transportation stocks switched gears on Wednesday.
Social media stocks are rallying in a big way, as new highs for the Dow Jones Industrial Average and the S&P 500 stimulate investors' appetite for risk.
Tech companies that went public in the last year, including FireEye, are getting hammered on the market.
Technology IPO stocks like FireEye, Twitter and GoGo have been hit hard recently
Which U.S. industries are seeing the biggest gains in hiring?