The Dow Jones Industrial Average rose 152.03 points, or 0.43 percent, to 35,609.34. The S&P 500 increased 16.56 points, or 0.37 percent, to 4,536.19. The Nasdaq Composite Index decreased 7.41 points, or 0.05 percent, to 15,121.68.
Eight of the 11 primary S&P 500 sectors ended in green, with utilities and real estate up 1.56 percent and 1.55 percent, respectively, leading the gainers. Technology slipped 0.29 percent, the worst-performing group.
Netflix shares fell more than 2 percent. The U.S. streaming entertainment service giant reported third-quarter results after Tuesday's close that showed a pick-up in subscriber growth.
Shares of United Airlines struggled after the company reported higher-than-expected quarterly revenue.
Tesla posted stronger-than-expected third quarter earnings after the bell Wednesday, and the stock edged lower in after-hours trading.
As of Tuesday, 86 percent of the S&P 500 companies reporting have topped estimates, according to figures from The Earnings Scout, a macroeconomic research firm that specializes in corporate earnings trends.
U.S.-listed Chinese companies traded mostly higher on Wednesday with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
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