Stocks settled firmly higher on Wednesday, as investors bet on a bank sector recovery and tech stocks rallied. Cooling bond yields inspired some of this optimism, with the 10-year Treasury note falling to 3.6%.

The Dow added 323 points and closed near its session highs, scoring its fourth win in five sessions alongside the S&P 500, which saw more modest gains. The tech-heavy Nasdaq also notched a triple-digit win. Wall Street's fear gauge, the Cboe Volatility Index (VIX), logged its fourth-straight loss. 

GOLD, OIL PRICES MOVE LOWER

Oil futures settled lower on Wednesday, reversing earlier gains that came after the Energy Information Administration (EIA) reported this year's biggest weekly dip in U.S. crude supplies so far. May-dated crude shed 23 cents, or 0.3%, to close at $72.97 per barrel.

Gold prices finished lower as well, as investors weighed the potential for more bank bailouts and a potential recession. June-dated gold fell $5.90, or 0.3%, to settle at $1,984.50 per ounce.

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