Wall Street closed higher on Wednesday, buoyed by strong quarterly earnings reports that boosted investor interest in artificial intelligence-related stocks. The Nasdaq, driven by its concentration in technology companies, led the gains, while the Dow Jones Industrial Average rose for a second consecutive day, adding 360 points, or 0.7%.

Apple announced that limited quantities of its new folding iPhone Duo will be available for walk-in customers when the device launches on Friday. This follows the rapid sellout of initial online orders, which were snapped up within minutes of becoming available.

In the airline sector, Southwest Airlines revised its financial outlook downward amid ongoing pressure from rising fuel costs, which continue to impact profit margins across the industry. However, the carrier reported a 21% increase in third-quarter revenue, reaching $8.42 billion, a boost attributed in part to higher ticket prices.

Regulators in the European Union have opened an investigation into whether Booking.com, the online hotel-reservation platform, is adequately addressing fraudulent listings and phishing scams. The inquiry seeks to determine compliance with EU rules governing online content and consumer protection.

Retailer Target unveiled its holiday merchandising plan, emphasizing affordability through what it described as “luxe for less” merchandise. The strategy includes items such as cashmere sweaters priced starting at $45 and faux fur throws available for $30, aimed at attracting budget-conscious shoppers during the critical holiday season.